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About Miden
Miden, a privacy-focused blockchain spun out of Polygon Labs, has reached several key milestones. In March 2025, it completed a $25 million seed round led by a16z crypto, with participation from 1kx, Hack VC, and others, marking its independence. The project, originally incubated within Polygon, leverages ZK-proofs for client-side execution, enabling private yet compliant transactions. Its mainnet is slated for Q4 2025, positioning it to compete with Solana, Sui, and Aptos while serving as a native chain for cross-chain liquidity on Agglayer. Early use cases include treasury management and OTC trading, with a long-term focus on institutional and governmental adoption.
Miden (0xMiden) has made significant progress in the past six months (2026-03-01 to 2026-09-01).
In March 2026, Miden deployed v0.14 testnet, which introduced a fundamental refactoring of the asset model. The new programmable asset system enables asset callbacks, allowing issuers to impose custom logic (e.g., compliance checks for regulated stablecoins) on transfers. This version also enabled bi-directional bridging between Miden and Ethereum Sepolia testnets via AggLayer, and switched the VM's proving backend to LiftedSTARK (built on Plonky3), improving performance.
In June 2026, v0.15 testnet was released, focusing on completing the foundational smart contract library (including authentication schemes, token standards, and access control). OpenZeppelin completed a security audit of Miden's smart contracts (May-June 2026), finding 60 issues (0 critical, 0 high, 11 medium), with most resolved.
Looking ahead, Miden plans to launch its mainnet in late August 2026, simultaneously releasing USDCx, a privacy-enabled stablecoin built on Circle's xReserve infrastructure. USDCx maintains a 1:1 peg with USDC and leverages Miden's client-side proving for private transactions. Future development will focus on integrating Miden into the AggLayer as a validium chain, further improving VM performance, and expanding the smart contract library.
Co-founders and key executives of Miden:
Azeem Khan: Co-founder. Previously co-founded Morph, worked at ConsenSys. Contributor at Forbes, columnist at CoinDesk, consultant to UNICEF CryptoFund.
Dominik Schmid: Co-founder and Product Manager. Previously at Polygon Technology, ConsenSys, and Raiden Network. Background in mathematics, philosophy, and software.
Akshit Sharma: COO. Previously Chief of Staff at Polygon Labs, Senior Business Analyst at Flipkart. MBA from NITIE Mumbai.
Bobbin Threadbare: Co-founder. No further public details available.