In this article I’ll discuss;
- Polygon Ecosystem Overview
- Polgon Use case
- Financial metrics
- Tokenomics
- Summary (Conclusion)
POLYGON ECOSYSTEM OVERVIEW
Matic (Polygon) is an ecosystem that strives to solve ability & usability issues, while not compromising on decentralization and leveraging the existing developer community and ecosystem.
It is an off/side chain scaling solution for existing platforms to provide scalability and superior user experience to Dapps/User functionality
Features of Magic
-The scalability: The matic network solves the problem of scalability by using a throughput blockchain with consensus provided by a selected set of block producers, chosen for every selected checkpoint by set of stakers.
This helps ins achieving a level of decentralization while maintaining extremely fast (<2 seconds) block confirmation times.
- High transaction fees: The magic network enables low-cost transactions by achieving economics scale by doing a large number of transactions on the block produce, which later ensures low cost and subsequently batching the proofs of the magic block using the Merkle root of blocks.
- Dapp's usability: The magic development is expected to work on various mobile and Webb browser integration and pioneering tools on the domain.
POLYGON USE CASE
- Payments: The matic network provides an interface for users, payments APIs, SDKs, DApps, Marchant and users to instantly pay in Crypto asset
- Atomic Swap: The contract allows users to pay with Crypto tokens and receive payment in assets they prefer.
- Liquidity providers: The matic network
allows third parties to exchange tokens for any other tokens by leveraging 0x liquidity pool or other liquidity providers while transferring the crypto assets.
- Decentralized exchanges: The network is capable of supporting decentralized exchanges and enabling trustless, able, and easy crypto traders.
- Lending and credit scoring: The network enables platforms for merchants to access credit worthless of connected users via their transaction history
- Games: The network design integrates in-games assets represented as NFTs (ERC-721) which are bought, sold, and traded in a huge number of sidechains
- Infrastructure: Major web 3 Infrastructure use Matic network to build user-friendly wallets for individuals and merchants, pay will dashboard, payments SDKs, and other open source tools.
A few Defi protocols integrate polygon chain Aave, Quickswap, Balancer V2, Uniswap V3, Beefy, Tetu, Curve, Gamma, Stargate, Klima DAO, and many more.
FINANCIAL METRICS
Circulating market cap - $10.41b
Fully diluted market cap - $11.32b
Fees (30 days) - $3.74m
Revenue (30 days) $2.05
The major source of revenue for polygon (matic) networks is transaction fees. A majority of the fees go to the validators who secure the network.
TOKENOMICS
Demand
The native digital cryptographically secured utility token of the (matic token) is a major component of the ecosystem on the matic network & it's designed to be adopted for use as the primary token on the network.
The token is designed to be a utility token that functions as the unit of payment & settlement between participants who interact with the ecosystem on the thematic network.
The token does not represent any shareholding, participant, right, or interest in the governing body of the ecosystem
Supply
Circulating supply - 9,194,469,069
Total supply 10,000,000,000
Max supply 10,000,000,000
Initial distribution of the token
- 12.00% is allocated to staking rewards
- 23.33% is allocated to the ecosystem
- 21.86% is allocated to the foundation
- 4.00% is allocated to the advisors
- 16.00% is allocated to the team
- 3.80% is allocated to private investors
- 19.00% is allocated to the Binance launch pad
Summary (Conclusion)
The Matic (polygon) stands to be on the 10th position on market size, this is as a result the potential use case of the network.
It's serves different Dapps and makes sure user of Crypto experience a throughput in transaction process.
It's designed to scale Ethereum ecosystem and bring in more adoption to the potentials of blockchain.
I look forward to exploring more on the polygon ecosystem in the future.
