Polygon’s zkEVM, formerly known as Hermez, was a zero-knowledge Ethereum-compatible chain developed to scale onchain transactions but ultimately failed to meet expectations and was shut down in 2025.

Quotes that support claims

Soon Polygon zkEVM will shut down. Quick recap: >Polygon acquired Hermez for $250M in 2021 >Rebranded to Polygon zkEVM >Development quietly abandoned >Never upgraded to use Blobs, chain runs at 1M$+ loss/y >Announce chain will shut down

In a separate X thread, researcher and founder of the student-run RWTH blockchain, Lorenz Lehmann, noted Polygon bought Hermez for $250 million in 2021, rebranded it as zkEVM, and then "quietly abandoned" development, leaving the network to rack up more than $1 million in annual losses.