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Reread ethereum scalability solutions Polygon, Layer2 leading the way

2022-02-24 21:30

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After four years of development, Polygon still has a lot of room to grow.

原文标题：《【项目调研 \ Polygon】全球第一且唯一的 Layer-2 聚合器》

原文作者： CD Research，船长社区

Project background

Polygon (old name Matic Network)& NBSP; The Husband Chain project of 2017 is a layer 2 scale-out solution that leverages side chains for off-chain computation, with TPS up to 7000, while using Plasma framework and decentralized proof-of-stake (PoS) validator network to secure assets.

It is currently developing Ethereum's layer 2 network, Polygon Zero. According to the official website, what differentiates this protocol from other ZK extension solutions is the power of Plonky2, our groundbreaking proof system that generates ZK proofs faster than any other existing technology.

Plonky2 supports efficient recursive proof generation and allows polygon zero horizontal scaling, which means that the throughput of the protocol is not limited by the weakest node on the network, but only by the total amount of computation available, and it is also fully compatible with Ethereum EVM (zK rollup schemes are generally not EVM compatible).

Using Polygon, you can create Optimistic Rollup chains, ZK Rollup chains, standalone chains, or any other type of infrastructure a developer needs. Polygon effectively turns Ethereum into a full-fledged multi-chain system (aka blockchain Internet). Such multi-linked systems are similar to Polkadot, Cosmos, Avalanche, etc., and have ethereum's security, active ecosystem, and openness.

Project link

Number of Twitter users: 1.2M

Website: https://polygon.technology/

Message: https://t.me/maticnetwork

Twitter: https://twitter.com/0xPolygon

Medium: https://medium.com/matic-network

The white paper: https://polygon.technology/lightpaper-polygon.pdf

Team background

The project team is based in India, and the CEO, Jaynti Kanani, was a key contributor to the first Plasma MVP implementation. Wrote the first Node implementation of the original Walletconnect protocol. Contributed to Web3 and developer ecosystem tools such as sol-trace.

Formerly a data scientist at Housing.com. CTO and co-founder Sandeep Nailwal is a former CTO (e-commerce) at Welspun Group. Previously ran a blockchain services and products company, working with a variety of clients to design and implement their decentralized application architectures. Former Technology consultant at Deloitte, top Business school in India.

Co-founder Anurag Arjun was previously AVP (Product Management) of IRIS Business, a global leader in software products for regulators. He is also a serial entrepreneur and has quit his previous company, Dexter Consultancy. He previously worked for Cognizant Technologies and SNL Financial.

Investor background

On February 7, 2022 of this year, Polygon raised approximately $450 million through a private sale of its Native MATIC Token in a funding round led by Sequoia Capital India, SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital, Alan Howard (co-founders Brevan Howard) and Kevin O'Leary (Mr. Wonderful from ABC Shark Tank).

Polygon's first major funding round since the project was launched in 2017 also attracted Alameda Research, Transcend Fund, Makers Fund, Animoca Brands, global video game leaders and game industry investors Scopely, Dune Ventures, Union Square Ventures, 77, Elevation. Capital , Sino Global Capital , DCG , Standard Crypto , Celsius , Dragonfly Capital , Variant Fund , Blue Pool Capital,WorkPlay Ventures (led by Zynga founder Mark Pincus), Third Point, Steadview Capital, Accel, and more.

Economic models

Code: MATIC

Total supply: 10 billion

Circulation: 6.87 billion pieces

Outstanding market value: US $13.57 billion

Token 分配如下：私人销售 Token 占总供应量的 3.80%；

种子轮：以 1 MATIC = 0.00079 美元的价格进行销售，共筹集到 165,000 美元，销售 Token 总供应量的 2.09%

早期支持者：以 1 MATIC = 0.00263 美元的价格进行销售，共筹集了 450,000 美元，出售了 Token 总供应量的 1.71%。

Launchpad 销售 Token 占总供应量的 19%。它于 2019 年 4 月进行，总共筹集了价值约 5,000,000 美元的 BNB，每个 Token 约 0.00263 美元，占 Token 总供应量的 19%。

团队 Token 占总供应量的 16%。

顾问 Token 占总供应量的 4%。

网络运营 Token 占总供应量的 12%。

基金会 Token 占总供应量的 21.86%。

生态系统 Token 占总供应量的 23.33%。

Of course, Matic is no longer under pressure to sell early profit chips.

In Polygon, MATIC Token There are three key use cases:

1. 参与权益证明共识：Polygon 侧链使用权益证明 (PoS) 层执行共识，网络参与者在该层中质押 MATIC Token 以作为验证者参与。

2. 支付网络中的交易费用：Polygon 侧链上的交易费用以 MATIC Token 支付。在 Polygon 上使用应用程序的用户越多，交易量和交易费用就越高。MATIC Token 还用于向 POS 质押者支付质押奖励。

3. Polygon intends to enable a separate pledge mechanism to support ecosystem projects. This will help to create a fund from "block rewards" to help support developers who develop features and Dapps needed for the network to receive part of the block rewards. The mechanism is funded by retaining a percentage of transaction fees in the agreement to support projects built to enhance the Polygon ecosystem.

Data on the chain

As can be seen from the figure above, the number of single coin holding addresses is on a steady rise. In the past three months, about 370,000 new addresses have been added.

The number of daily active users on the Matic network has stabilized over the past month.

ecological

Matic network is a very mature public chain, currently has more than 7000 running on its network. Whether in DEX, loan, NFT or other DEFI projects, the head of the project appears.

But Matic, as a multi-chain public chain, will launch a new two-layer public chain in the future, and there will be plenty of opportunities for us to be involved.

Project data

1.100 active verifiers & NBSP;

2. The client on PoS has 13k&&ywk&p;

3. The total number of transactions reached 3.4 billion;

4.Matic pledge quantity is 2 billion & NBSP;

5. Ranking 7th among major public chains in terms of lock-in volume, it reached $5.47 billion.

Competitor pattern

The Matic network is becoming a leader in the multi-chain ecosystem and Web3.0, and has done well on the track with boca Dot and astro boy Cosmos. In terms of total lock-in value, Matic is larger than Dot and Cosmos, but Dot has a higher market cap than Matic. From the perspective of project development, Polygon Zero, the layer 2 network, has not been officially launched yet. We believe that the successful launch of the product will have a positive effect on Matic's price in the future.

conclusion

1. Matic recently raised $450 million to grow the ecosystem, and we believe that new products will be released in the future to empower Matic.

2. From the point of view of K line (daily line), the position around 1.5U is a larger pressure level, and positions should be properly built in batches at this position.

3. Matic has a large space for growth. Its two-layer public chain and ecosystem will form an internal economic circulation system and resource sharing pattern.