What is Polygon Network (MATIC)? Detailed information about MATIC token

• Overview of the Polygon Network project
• Basic things you need to know MATIC token
• Should I Invest In MATIC Or Not?
• Conclude

Overview of the Polygon Network project

What is Polygon Network?

Polygon (first called Matic Network) was launched in October 2017. This project is developed by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic (Co-Founder). Polygon Network is a SideChain-based Layer-2 scaling solution for public blockchains with open source code supported by Binance & Coinbase.

More simply, Polygon was born to help Ethreum increase its applicability in practice. But it still provides a good user experience as well as the security and decentralization of the blockchain.

Features of Polygon Network

Swap:  Investors can Swap, send or receive any crypto-asset on the cross-chain network.

Payment:  Users can trade and pay for crypto assets quickly. Those assets can be ERC20, ERC721 tokens, ETH, ..

Provide liquidity:  Matic Network uses 0x's Pool Liquidity feature to provide liquidity to 3rd parties participating in the network.

DEX support:  Matic Network can provide a solution for DEX decentralized exchanges to make transactions faster and cheaper.

Authentication feature:  The Open-Identity system in the Matic network makes investors' transactions more secure.

Functions of Polygon (MATIC)

Scalability:  Fast transaction speed, low cost and secure on Matic sidechain.

High Throughput : Up to 7000 TPS possible on a single sidechain on internal testnet.

User experience:  With an eye-catching interface, fast transaction speed has brought the best experience to users.

Public sidechains:  Polygon Network is a SideChain-based Layer-2 scaling solution based on the public blockchain and capable of supporting many other platforms.

Project founding team

This project is developed by 4 main members including: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic (Co-Founder).

• Jaynti Kanani is a blockchain engineer. Currently holding the position of CEO of Polygon. He played a key role in the development of Web3, Plasma and the Wallet Connect protocol on Ethereum.
• Sandeep Nailwal, co-founder and chief operating officer of Polygon. Previously, Sandeep served as Technical Director of Welspun Group. 
• Anurag Arjun is currently the product manager of Polygon.
• Mihailo Bjelic (Co-Founder): Technology developer on Ethereum.

Basic things you need to know MATIC token n

What is MATIC token used for?

Matic is the foundation token (governance token) of Polygon Network, so it can be used by investors as transaction fees and staking. In addition, token holders have the right to participate in the system administration process as well as they can contribute ideas to help developers build the network.

Basic information about MATIC token

• Token Name : Polygon.
• Ticker : MATIC.
• Blockchain : Ethereum, Polygon.
• Token Standard : ERC-20.
• Contract : 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0.
• Token Type : Utility.
• Total Supply : 10,000,000,000 MATIC.
• Circulating Supply : 6,105,590,937 MATIC.

Distribution of MATIC tokens

Token Allocation

Token Sale : 19%.

• Seed Sale : 2.09%.
• Members who support the project in the early stages : 1.71%.
• Team : 16%.
• Advisor : 4%.
• Established fund : 21.86%.
• Ecosystem : 23.33%.
• Staking Reward : 12%.

MATIC token storage wallet

MATIC is an ERC20 token, so you will have a lot of wallet options to store this token. There are three common types of wallets:

• Floor wallet.
• Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, etc.
• Cold wallets: Ledger, Trezor, …

How to earn and own MATIC tokens

Currently, investors can buy and sell MATIC tokens on exchanges such as: Binance, FTX, Coinbase Pro, Kucoin, Uniswap V2, Gate.io, Kraken, Huobi Global, Poloniex, Bittrex...

Investors can also contribute to the Matic Network and receive MATIC Tokens as rewards.

Should I Invest In MATIC Or Not?

Matic has had a very strong growth recently. The value of MATIC coin has reached ATH with $2.4 USD in May, although there has been a slight correction, the growth potential is still quite positive because Polygon is an important complement to the stage of raising Ethereum to Ethereum. 2.0. Polygon is still in the process of being completed, the value of MATIC tokens increases or decreases depending on many factors such as: Development roadmap, vision and efforts of the project team in the future.

Conclude

Polygon Network is one of the few projects supported by Binance Launchpad and Ventures. Through this article, you must have somewhat grasped the basic information about the project to make your own investment decisions. What do you think about the future and potential of MATIC? Please share it with TraderH4 team.

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