Polymer Labs, an L2 project focusing on the interoperability of the IBC protocol, released a picture with a specific time (June 10) and captioned it "something is about to happen", with the community speculating that a TGE may take place.

In January of last year, the IBC infrastructure Polymer Labs completed a $23 million Series A financing round, led by Blockchain Capital, Maven 11, and Distributed Global, with participation from Coinbase Ventures, Placeholder, Digital Money Group, North Island Ventures, and Figment Capital.