Wednesday, February 1, 2023
    HomeBlockchainPolygon (MATIC) Throws In $100 Million To Expand Its Supernets Network

    Polygon (MATIC) Throws In $100 Million To Expand Its Supernets Network


    Polygon, the favored Ethereum scaling platform, has been broadening its ecosystem. The protocol introduced in the present day that it’s committing $100 million to advertise the event and adoption of Supernets, its application-specific blockchains with greater efficiency. 

    What are Polygon’s Supernets? 

    Supernets are Polygon’s newest addition to its multi-chain L1 blockchains powering ecosystem. In a blog post, the Polygon staff explains the important thing options of Supernets. 

    Supernets are powered by Polygon Edge, a modular blockchain stack that permits the constructing of custom-made blockchain networks. Supernets tackle these traits, added with greater efficiency.  

    The staff famous that Supernets could be constructed to run a selected software, mission, or use case whereas being secured by the Polygon protocol, maintained by licensed companions, and receiving additional upgrades from the Polygon Edge structure. Supernets are additionally suitable with one another and the Ethereum blockchain by default. 

    The $100 million funding the protocol is offering is the help tasks that may construct on the brand new framework. 

    “We envision Polygon as a massively scalable, interconnected multi-chain system, and we’re saying a $100M fund to ignite this imaginative and prescient,” the staff mentioned. 

    mission groups can apply for funds to help their R&D, mission onboarding, liquidity mining, third-party integration, and acquisition whereas constructing a Supernet.

    Polygon’s quickly rising ecosystem and MATIC

    Earlier than the emergence of Supernets, there have been already over 20 tasks constructing on Polygon Edge which first launched final 12 months. Equally, the remainder of the Polygon ecosystem is quickly increasing.

    Polygon ecosystem tasks just lately reached over $1,446 with DeFi platforms, NFT tasks, and gaming dominating their quantity.  The protocol additionally just lately announced a $20 million dedication to make use of in driving the blockchain to change into Carbon destructive this 12 months.

    MATIC, the native token of the Ethereum-compatible blockchain ecosystem, has traded like the remainder of the crypto market. MATIC is buying and selling at round $1.40, down 4.2% within the final 24 hours. The present worth marks a 52% drawdown from its all-time excessive worth of $2.91 reached in December final 12 months.



    The offered content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.

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