MATIC strong rally 300%, Polygon ecology do not understand?

Unlike Solana public chain which focuses on high performance transactions, Polygon ecological projects mostly focus on social, NFT and other Web3 applications.

On May 19, Bitcoin once again flashed down 10,000 knives, the cottage collectively dived 80%, the total market value of cryptocurrency evaporated nearly $50 million overnight, and the market sentiment panicked to the extreme. This historic plunge completely extinguished the “animal coin” orgy.

After the “frightening night” of 519, Bitcoin quickly rebounded to $40,000, and MATIC (Polygon) became the strongest coin to rebound after the market stabilized, gaining nearly 300%.

Why has MATIC had such a bright market performance?

The congestion of Ether, the weakness of exchange public chains, and the slow development of Ether’s competing chains have made Polygon, a sidechain born to solve Ether’s congestion, a hot topic in the crypto space. And the booming ecosystem is the main reason why Polygon is getting a lot of attention in the market.

Just last week, Polygon became the first ethereum two-tier network project to exceed $10 billion in circulating market capitalization, successfully ranking among the top 15 cryptocurrencies in terms of market capitalization.

Polygon is called India’s “Ether” and belongs to the Ether sidechain. The team has adopted the Plasma framework and PoS authentication mechanism to ensure asset security, and is committed to improving the throughput of Ether, solving scalability and usability issues, providing a good operating experience for DApp users and allowing developers to deploy scalable smart contracts without the need for high fees.

What are the advantages of Polygon?

  1. Scalability: Fast and low-cost transactions on the sidechain and confirmation on the main chain. Ethernet is its first compatible base chain.
  2. High throughput: Up to 10,000 TPS on a single sidechain, with multiple sidechains further helping to scale horizontally.
  3. User Experience: Smooth user experience and development layer from the main chain to the Polygon chain, with WalletConnect-enabled mobile application and software development SDKs.
  4. Security: The operator of Polygon chain is also the owner of the rights and interests of the PoS system.
  5. Public sidechain: Polygon sidechain is a public unlicensed chain and can support multiple protocols.

Recently, Polygon’s growth has been explosive, with over $10 billion in value locked up and new protocols being deployed and old protocols migrated every day. Awesome Polygon data shows that the current number of DApps within the Polygon ecosystem has reached 273, and the number of infrastructure and development tools has reached over 60.

MATIC strong rally 300%, Polygon ecology do not understand?

These technical advantages of Polygon can be well applied in Ether-related networks. For example, on payment methods, Polygon can provide payment API / SDK for DApps, merchants and users, and the settlement speed is greatly improved and the experience is smoother. Another example is the application in decentralized exchange, the current Ethernet network Gas fee is too expensive and the network is congested, and with Polygon’s technical support, it can greatly improve the DEX experience and save users’ transaction costs.

Such a performance public chain naturally breeds an ecosystem suitable for itself. In the official ecological chart, we find that most of the current infrastructure of Polygon ecology is the native protocol of Ether, and there are relatively few native applications based on Polygon.

MATIC strong rally 300%, Polygon ecology do not understand?

But how do you get involved in its ecosystem through the Polygon sidechain? Here I will take you to try these Polygon projects for yourself and see how they are really developing.

How to use Polygon?
Before using Polygon, you need a few steps: first, configure the Matic network in your wallet, and then you need to use the asset bridge to transfer funds from Ether Layer 1, Coinan Smartchain or other chains.

Let’s take the example of transferring assets from Ether mainnet to Matic network.

  1. Add Matic mainnet to MetaMask
MATIC strong rally 300%, Polygon ecology do not understand?

You can visit Chainlist.org and add the Matic network with one click.

  1. Use Matic’s cross-chain asset bridge to migrate funds
MATIC strong rally 300%, Polygon ecology do not understand?
MATIC strong rally 300%, Polygon ecology do not understand?

The cross-chain bridge between the main Ethernet network and Polygon’s main network is located at: https://wallet.matic.network/

Open the cross-chain bridge website, connect to MetaMask wallet and select the Ethernet main network address, follow the steps in the diagram and then click twice to confirm, it costs part of the Gas fee and takes about 5-15 minutes waiting time, but overall it is still fast.

  1. Switch to the Matic network on MetaMask to see the cross-chain assets, when you cross back to Ether the operation is the same, except that the Gas fee needs to pay MATIC, and a particularly small percentage of the cross-chain assets will be deducted.

What protocols are available on Polygon?
The official ecological map given by Polygon we find that Polygon ecology involves games, NFT, DeFi and many other areas.

It is understood that in 2020 alone, Polygon ecology has added more than 80 Dapps, including 18 DeFi projects, 34 games and NFT projects, and 28 other applications.

Examples include Easyfi Network, a collateralized lending protocol; Oropocket, a synthetic asset protocol; QuickSwap, a decentralized trading protocol; NeonDistrict, a cyberpunk RPG adventure game; Terra Virtua, an immersive digital collectibles platform; and more.

Here we take a look at what protocols are worth watching and participating in the Polygon ecosystem.

  1. QuickSwap: A decentralized exchange that requires no license

Powered by Polygon’s Layer 2 network scalability infrastructure, QuickSwap is the native decentralized trading platform on Polygon and is currently the most active application among users.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://quickswap.exchange/

  1. Polywhale: Aggregate revenue platform

Polywhale is a decentralized revenue aggregator native to Polygon, and is also the first platform to support single-coin lock-in mining. polygon’s announced development route plan will also collect lottery pools, IDO, NFT and many other features.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://polywhale.finance/

Tellor: decentralized prophecy machine

Tellor deployed a decentralized prophecy machine, “Tellor Optimistic Oracle”, on Polygon last November, which is able to obtain asset prices from Tellor Too’s prophecy machine price stream.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://www.tellor.io/

4.EasyFi: A Lending Protocol for Layer 2 Networks

EasyFi is a Polygon-based DeFi lending protocol for Layer 2 networks, designed to address the challenges inherent in first-generation DeFi solutions in areas such as transaction speed and cost, and to open up the foundation for micro and small lending.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://easyfi.network/

  1. CyberFi: Intelligent Asset Management Platform

CyberFi is a DeFi trading tool that allows users to manage assets through a display interface provided by an automated intelligent asset management system and in a quick and easy way.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://www.cyberfi.tech/

  1. Polymarket: Prediction Market Protocol

Polymarket is a prediction platform built on Polygon, where anyone can place bets against controversial topics via the stablecoin USDC.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://polymarket.com/

7.NIFTEX: NFT fragmentation platform

NIFTEX is an NFT fragmentation creation and trading platform that aims to provide smooth NFT high frequency transmission for platform users. Last November, NIFTEX received $500,000 in funding led by 1kx Capital.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://www.niftex.org/

  1. Showcase: Digital Collection Platform

Showcase is a digital collectible merchandise platform built on Polygon and designed to connect creators with supporters.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://showcase.to/

9.0xUniverse: Open Economy Space Themed Game

0xUniverse is an open economy space-themed game launched by the 0xGames team in 2019, in which players can build spaceships and explore the galaxy. However, due to funding issues, the project shifted to community autonomy in September 2020.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://0xuniverse.com/

10.Decentral Games: Decentraland-based virtual reality gaming platform

Decentral Games is a Decentraland-based virtual reality gaming platform that has chosen to use Polygon in 2019 to expand its games and offer instant transactions during gameplay.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://decentral.games/

  1. AnRKey X: DeFi+NFT Gaming Platform

AnRKey X is a platform designed to fuse DeFi, eSports and NFT.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://anrkeyx.io/

  1. DcENT HUMANS: Automated NFT Issuance System

DcENT HUMANS is a Phygital (physical + digital) encryption lifestyle brand that aims to introduce a fully automated NFT issuance system.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://dcentlife.io/

  1. MahaDAO: MakerDAO on Polygon

MahaDAO is a decentralized algorithmic stablecoin project that is currently building an Indian version of the DeFi stablecoin on Polygon.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://mahadao.com/

  1. Bella Protocol: DeFi’s multifunctional platform

Bella Protocol is a DeFi product aggregator and capital management platform that currently includes tools to automate liquidity mining, lending agreements, one-click savings accounts, smart machine investment advisors and more.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://bella.fi/

  1. Swirge: A Decentralized Media, Marketplace and Payments Platform

Swirge, a decentralized media, marketplace and payments platform, has brought its suite of decentralized products to Polygon, including Swirge Pay, Swirge Marketplace and Swirge Social Media.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://swirge.com/

16.OroPocket: Precious Metals Investment App

OroPocket, a DeFi app specializing in precious metals investing, launched the OpFi protocol on Polygon to connect synthetic assets on the chain with real-world assets.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://opendefi.finance/

  1. Alethea AI: A decentralized synthetic medium

Alethea AI a decentralized synthetic medium that is experimenting with digital masks that counter facial recognition algorithms, allowing creators, developers, and fan communities to be able to use their own virtual economy in order to create intelligent, interactive AI avatars.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://alethea.ai/

  1. Zawadi: Mobile Ticketing Payment Platform

Zawadi is a mobile ticket delivery platform powered by Polygon that provides event organizers and ticketing companies with tools and APIs to deliver tokenized event tickets to attendees via a social media app. Zawadi is currently in Beta testing.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://zawadi.co/

  1. Zon Directory: decentralized multifunctional platform

Zon Directory is a decentralized multifunctional platform on Polygon that features an ebookstore, software store, audiovisual store, blogging platform, science archive site, and more, as well as hosting all content so authors, content creators, software developers, and businesses can easily interact with their target audience and sell their products.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://zondirectory.com/

20.0Chain: Decentralized Cloud Storage Platform

0Chain is a decentralized cloud storage platform that will integrate with Polygon’s high-speed scalable architecture. 0Chain’s storage solution is currently available to developers on Polygon.

MATIC strong rally 300%, Polygon ecology do not understand?

Official website link: https://0chain.net/

In fact, there are not only the projects listed above, but also new protocols deployed on Polygon like BeyondNFT, a project that allows users to create definitions using HTML/CSS and JavaScript code, Somnium Space, an open social platform, Privi Protocol, a multi-chain social finance platform, and so on, as well as decentralized Injective Protocol, decentralized lending protocol Aave, stable coin exchange protocol Curve, decentralized trading protocol SushiSwap, and other quality protocols from the original ethereum ecosystem have chosen Polygon as the expansion solution for their Layer 2 network.

A key reason for Matic’s rapid ecological development is the team’s support for developers: the team has launched a fund of over $100 million to support the development and adoption of DeFi protocols. And as a native Layer2 of Ether, Polygon’s excellent EVM compatibility allows DeFi projects built on one layer of Ether to easily migrate to the network with just a few simple tweaks, while Polygon is also able to offer far higher performance than one layer and almost negligible on-chain operational costs.

Messari researcher Mira Christanto has previously noted that the Polygon network has reached three times the transaction volume of the main Ethernet network, but the total network-wide cost is only 0.01% of the former.

MATIC strong rally 300%, Polygon ecology do not understand?

In terms of partners, Polygon has also worked with several outstanding teams, including Chainlink, Bluzelle, REN Protocol, LTO Network, Razor Network, MoonPay, Transak, API3, KardiaChain, Ankr, and others. Among them, Chainlink became Polygon’s official recommended solution for prophecy machines, and Polygon became one of the first alliance members to join Ren Protocol for cross-chain asset support. Recently, Polygon also harvested an investment from Mark Cuban, owner of NBA team Dallas Maverick.

It is worth mentioning that unlike the Solana public chain which focuses on high-performance transactions, the projects in Polygon’s ecosystem mostly focus on social, NFT and other Web3 applications. At present, the prototype of Polygon’s ecosystem has also been formed, and it is foreseeable that more and more native applications will appear as Polygon’s ecology flourishes.

However, like Solana ecology, Polygon’s protocol building from atomic layer, middleware to application layer still needs at least several months of sedimentation to form a complete ecological system. However, with the innate advantages of the Ethernet sidechain and the huge resources, the prosperity of the whole ecology will come sooner than expected.

Finally, the evaluation of each protocol in this article is only a personal opinion and does not constitute investment advice. In addition, the development and changes of blockchain projects are very rapid, and we should not judge their future development entirely by the shape and progress of the current products.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/matic-strong-rally-300-polygon-ecology-do-not-understand/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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