Question 1

### Overview of Polygon (MATIC)

Polygon (MATIC) is a cryptocurrency that offers scalability and efficiency to the Ethereum network. As an innovative solution, Polygon serves as a framework for building interconnected blockchain networks. By providing a solution to performance issues on the Ethereum blockchain, Polygon enhances transaction speed and reduces costs.

### What Makes Polygon Unique?

Polygon distinguishes itself through its multi-chain system, which is akin to other networks such as Polkadot, Cosmos, and Avalanche but with the advantages of Ethereum's security, vibrant ecosystem, and openness. Its architecture supports a range of applications and offers flexibility to developers, empowering them to construct their own customizable solutions.

For further details and metrics on Polygon's market performance, please refer to Eulerpool.

Accepted Answer

Polygon (formerly Matic Network) represents the first well-structured, user-friendly platform designed for Ethereum scaling and infrastructure development. The central component of Polygon is the Polygon SDK, a modular and flexible framework that supports the development of various types of applications.

To explore more about this project, please refer to our in-depth analysis of Polygon Matic.

Polygon enables the creation of optimistic rollup chains, ZK rollup chains, standalone chains, or any other infrastructure that developers require.

Polygon effectively transforms Ethereum into a comprehensive multi-chain system, known as the Internet of Blockchains. This multi-chain system resembles others such as Polkadot, Cosmos, and Avalanche, while benefiting from Ethereum’s security, vibrant ecosystem, and transparency.

The $MATIC token will persist and continue to play a growing role in securing the system and enabling governance.

Polygon, previously Matic Network, is a Layer 2 scaling solution supported by Binance and Coinbase. The initiative aims to foster the widespread adoption of cryptocurrencies by addressing scalability issues across various blockchains.

Polygon integrates the Plasma Framework with proof-of-stake blockchain architecture. The Plasma framework, as proposed by Ethereum co-founder Vitalik Buterin, allows Polygon to execute scalable and autonomous smart contracts efficiently.

The existing ecosystem built on the Plasma-POS chain will remain unchanged. However, Polygon introduces new features utilizing the proven technology to broaden its capability to meet the diverse requirements of the developer ecosystem. Polygon is committed to advancing the core technology to scale to a larger ecosystem.

Polygon can support up to 65,000 transactions per second on a single side chain, with an impressive block confirmation time of less than two seconds. Additionally, the framework supports the creation of globally accessible decentralized financial applications on a single foundational blockchain.

The Plasma framework provides Polygon with the capability to host an unlimited number of decentralized applications on its infrastructure without the usual drawbacks of proof-of-work blockchains. To date, Polygon has attracted over 50 DApps to its PoS-secured Ethereum sidechain.

MATIC, the native token of Polygon, is an ERC-20 token operating on the Ethereum blockchain. The tokens facilitate payment services within Polygon and act as a settlement currency for users within the Polygon ecosystem. Transaction fees on Polygon sidechains are also payable in MATIC tokens.

Question 2

Who Founded Polygon?

Accepted Answer

Polygon, originally known as Matic Network, was launched in October 2017. It was co-founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, comprised of two skilled blockchain developers and a business consultant.

Prior to transitioning to its own network in 2019, the Polygon team significantly contributed to the Ethereum ecosystem. They were instrumental in implementing the Plasma MVP, the WalletConnect protocol, and the widely-used Dagger event notification engine on Ethereum.

Among the founders is Jaynti Kanani, a full-stack developer and blockchain engineer, who currently serves as the CEO of Polygon. Jaynti played a key role in implementing Web3, Plasma, and the WalletConnect protocol on Ethereum. Before his involvement in blockchain, he worked as a data scientist at Housing.com.

Sandeep Nailwal, co-founder and chief operations officer of Polygon, is an experienced blockchain programmer and entrepreneur. Before co-founding Polygon, formerly known as Matic, Sandeep served as the CEO of Scopeweaver and as the chief technical officer of Welspun Group.

Anurag Arjun is the sole non-programming co-founder of Polygon. With a background in product management, he has worked with IRIS Business, SNL Financial, Dexter Consultancy, and Cognizant Technologies.

For more detailed information, please refer to Eulerpool.

Question 3

What Distinguishes Polygon?

Polygon stands out as a unique entity in the blockchain ecosystem due to its innovative approach toward tackling Ethereum's scalability issues. Its multi-chain system, which is often compared to other ones such as Polkadot, Cosmos, or Avalanche, provides both Ethereum’s interoperability and the sovereignty of standalone blockchains. With Polygon, developers have the flexibility to create their own scalable blockchains, while benefiting from Ethereum's robust security.

The Polygon protocol also enhances user and developer experiences by utilizing a combination of innovative technologies, including Plasma chains, zk-Rollups, Optimistic Rollups, and Validium chains. This diversity ensures high adaptability and facilitates seamless scaling solutions.

For a detailed analysis of Polygon’s market position and value, refer to Eulerpool.

Accepted Answer

Polygon is described as a Layer 2 scaling solution, indicating that the project does not plan to modify its existing foundational blockchain layer in the near future. The primary focus of Polygon is to alleviate the complexities associated with scalability and facilitate instantaneous blockchain transactions.

Polygon employs a tailored version of the Plasma framework, which operates on proof-of-stake checkpoints running through the Ethereum main-chain. This innovative technology enables each sidechain on Polygon to handle up to 65,536 transactions per block.

Functionally, the sidechains of Polygon are architecturally designed to accommodate a broad array of decentralized finance (DeFi) protocols that exist within the Ethereum ecosystem.

Presently, Polygon provides support exclusively for the Ethereum basechain; however, the network aims to expand its support to include additional basechains, guided by community feedback and consensus. This would evolve Polygon into an interoperable decentralized Layer 2 blockchain platform.

Question 4

What is the Circulating Supply of Polygon (MATIC) Tokens?

Accepted Answer

MATIC tokens are issued on a monthly basis. Currently, MATIC has a circulating supply of 4,877,830,774 tokens out of a maximum supply of 10,000,000,000 tokens.

During its initial private sale in 2017, 3.8% of MATIC's maximum supply was issued. In the launchpad sale of April 2019, an additional 19% of the total supply was sold. At that time, the price of MATIC was $0.00263 per token, generating $5 million in total.

The distribution of the remaining MATIC tokens is as follows:

* Team tokens: 16% of the total supply.
* Advisors tokens: 4% of the total supply.
* Network Operations tokens: 12% of the total supply.
* Foundation tokens: 21.86% of the total supply.
* Ecosystem tokens: 23.33% of the total supply.

According to the release schedule, all tokens were set to be released by December 2022.

Question 5

How is Polygon Secured?

Accepted Answer

As a Layer 2 solution employing a network of proof-of-stake (PoS) validators for asset security, staking is a fundamental component of the Polygon ecosystem. Validators within the network stake their MATIC tokens as collateral to participate in the network's PoS consensus mechanism and receive MATIC tokens as a reward.

Network participants who prefer not to become validators have the option to delegate their MATIC tokens to other validators. This allows them to engage in the staking process and earn staking rewards without directly validating transactions.

Beyond the proof-of-stake checkpointing, Polygon utilizes block producers at the block producer layer to enhance decentralization. These block producers ensure finality on the main chains by employing checkpoints and fraud-proof mechanisms.

Question 6

Where can Polygon (MATIC) be purchased?

Accepted Answer

As a significant contributor to the advancement of the Ethereum ecosystem, MATIC is widely recognized among online exchanges specializing in DeFi. The leading exchanges for buying, selling, and trading MATIC currently include:

* Coinbase Pro
* Huobi Global
* KuCoin

To view the live Polygon price in your preferred fiat currency, you can utilize Eulerpool's converter feature directly on the Polygon price page. Alternatively, there is a dedicated exchange rate converter page available. Popular MATIC price pairs include MATIC/USD, MATIC/GBP, MATIC/AUD, MATIC/EUR, and MATIC/JPY.

For newcomers, you can find a simplified guide for purchasing crypto, project deep dives, and additional educational content on Eulerpool Alexandria.

Question 7

Polygon (MATIC) London Hard Fork and EIP-1559 Upgrade

Accepted Answer

Polygon has announced that the highly anticipated London Hard Fork and Ethereum Improvement Proposal (EIP) 1559 upgrade will be activated on the mainnet on January 18, 2022. This upgrade will fundamentally alter the fee mechanism on the Ethereum network by eliminating the first-price auction as the primary fee calculation method. Instead, it will implement a base fee that is burned rather than sent to miners. Although transaction fees are not reduced, the upgrade provides more stability in estimating costs and helps reduce overpayment.

As MATIC tokens will be burned as base fees—and considering MATIC has a fixed supply of 10 billion tokens—this will exert a deflationary effect on the digital asset. Polygon's core team has projected that approximately 0.27% of MATIC's total supply will be burned annually, equating to around 27 million tokens. This deflationary pressure is expected to benefit validators and delegators significantly, as transaction processing rewards on Polygon are denominated in MATIC. Additionally, the base fee will automatically increase when a block is filled, leading to fewer spam transactions and reduced network congestion. The London Hard Fork for Ethereum's mainnet was implemented on August 5, 2021.

Question 8

Polygon Network Achieves Carbon Neutrality

Accepted Answer

Polygon is among the several blockchains achieving carbon neutrality as part of its Green Manifesto, which aims to prioritize sustainable blockchain development. Polygon has committed $20 million to various community initiatives utilizing Web3 technology to foster a sustainable future for all. This includes focusing on new solutions for on-chain carbon credit retirement.

In collaboration with KlimaDAO, Polygon purchased $400,000 worth of carbon credits, representing nearly 90,000 tonnes of CO2 emissions. These tokens were retired using KlimaDAO's offset aggregator tool, with BCT and MCO2 carbon credits generated from offsets certified under the Verified Carbon Standard.

KlimaDAO is a decentralized group of environmentalists, entrepreneurs, and developers striving to modernize the carbon market through on-chain technology.

Moreover, KlimaDAO and Offsetra conducted an analysis of Polygon's network energy footprint to identify emission hotspots and determine an effective mitigation strategy. This analysis includes examining emissions from staking node hardware, the energy consumption of staking operations, and more.

Achieving carbon neutrality marks the initial step for Polygon towards sustainability. Although the network operates on proof-of-stake, which is significantly more energy-efficient than proof-of-work, it still impacts the environment. This applies to both activities exclusive to Polygon and native smart contracts interacting with the Ethereum blockchain.

Polygon and KlimaDAO have also retired carbon credits from various network-native projects, including the Bull Run Forest Conservation Project, the Ghani Solar Power Project, Moss.Earth, and the wind power project at Jaibhim, India.

Exchange	Market Pair	Price	Depth +2%	Depth -2%	Volume 24H	Volume %	Type	Liquidity Rating	Freshness
PayBito	MATIC/USD	0.22	2.81 M	1.95 M	4.91 M	0.53	cex	1	3/20/2025, 6:26 AM
PayBito	MATIC/ETH	0.22	526,355.3	712,639.95	2.32 M	0.25	cex	1	3/20/2025, 6:26 AM
PayBito	MATIC/USDT	0.22	259,092.45	308,918.62	1.8 M	0.2	cex	303	3/20/2025, 6:26 AM
Coinbase Exchange	MATIC/USD	0.22	56,671.15	68,037.37	1.21 M	0.03	cex	484	3/20/2025, 6:27 AM
PayBito	MATIC/SGD	0.22	235,039.64	266,086.03	870,559.09	0.09	cex	365	3/20/2025, 6:26 AM
Coinbase Exchange	MATIC/EUR	0.21	21,331.84	25,187.62	364,232.68	0.04	cex	412	3/23/2025, 6:26 AM
Kraken	MATIC/USD	0.22	61,213.36	73,525.53	113,479.7	0.01	cex	500	3/20/2025, 6:27 AM
Qmall Exchange	MATIC/USDT	0.22	58,001.25	43,756.07	111,783.34	0.04	cex	401	3/20/2025, 6:27 AM
Bitstamp	MATIC/USD	0.22	6,648.33	30,886.03	92,506.03	0.02	cex	358	3/20/2025, 6:27 AM
Niza.io	MATIC/USD	0.22	40,347.98	53,144.8	55,291.58	0.01	cex	32	3/20/2025, 6:27 AM

The edge that pays for itself.

Polygon

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Polygon FAQ