Polygon Announces Supernets and a $100M Development Fund

Polygon Announces Supernets and a $100M Development Fund

April 22, 2022

To ensure security, each Supernet will see validators stake their MATIC tokens on the mainnet. The Supernet is somewhat similar to what Polkadot offers, though there is a difference when it comes to the details.

Polygon co-founder Sandeep Nailwal said spoke of the project’s mission to enable Web3 adoption, saying,

“The infrastructure tooling enables users to achieve desired outcomes easily and quickly. Polygon’s goal is to bring mass adoption to Web3 as the key to blockchain adoption is to provide a comprehensive range of options for enterprises.”

Polygon Really Gearing Up for the Future

This $100 million fund is far from the first fund that Polygon has set up. The project has set aside money for furthering all sorts of initiatives, including DeFi. The project is keen on fostering ecosystem growth as well as general infrastructure development.

It has also been expanding its team, welcoming hires from big tech firms like Amazon, Google, Electronic Arts, and YouTube. Some of these are so that it can bolster its gaming initiative. Polygon is also very keen on the blockchain gaming space.

Even in 2021, daily transactions on Polygon Network were eclipsing that of Ethereum. This is mostly because Polygon offers transactions at a much lower cost.

However, with Ethereum set to roll out its own upgrades in the near future, that could change. Perhaps that is why Polygon is expanding its focus, becoming more than just a project that offers scalability solutions on Ethereum.

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