Polygon (MATIC): Price Updates, Recent Developments, Future Events, Community
- Polygon has reached remarkable heights in 2021, recently celebrating 100 million unique addresses on the network
- Amun has announced the launch of PECO, the first index token designed to track the performance of the top projects on Polygon
- Polygon has announced several partnerships to expand its reach, including Agri10x, Amun, and DraftKings (NASDAQ:)
- Axion Network and Vesper Finance have begun works to integrate the Polygon Network
Polygon’s scalability ensured its ascension up the crypto hierarchy in 2021. By breaking a network up into a series of chains, Polygon operates the “Internet of Blockchains.” It also utilizes layer-2 scaling to bypass transactions clogging on a single chain.
The Polygon Network offers exciting functionalities for developers and users alike, which has seen its community snowball into one of the biggest in the crypto space. So how has this fast-growing network performed in recent times?
While the price of Polygon (MATIC) may have hit a temporary roadblock, the network hasn’t. Polygon has announced that the number of unique addresses on its network has recently hit a new all-time high above 100 million.
The Polygon PoS Chain Unique Addresses Chart. Source: PolygonScan
The Polygon Network is growing in popularity because of its low transaction fees and access to decentralized finance (DeFi) applications. However, early in October, Polygon increased its transaction fees by 30x (from 1 gwei to a minimum of 30 gwei).
While members of the Polygon community had criticized the move, questioning the development team whether any feedback was collected before the move was implemented, co-founder of Polygon, Sandeep Nailwal, stated that the move was necessary to deter spam transactions on the network.
In more community-pleasing news, Amun has announced the launch of the Polygon Ecosystem Index — PECO. This is the first index token designed to track the performance of the top projects on Polygon.
By collaborating with Polygon Foundation and other top projects in the ecosystem, PECO looks to provide an easy and low-cost way to invest in Polygon’s vibrant and growing ecosystem of DeFi and NFT projects.
Polygon has partnered with India’s largest B2B e-marketplace, Agri10x. The partnership will see both heavyweights work together to give a facelift to the agriculture sector.
Polygon Studios has announced a partnership with DraftKings, a leading digital sports entertainment and gaming company. The partnership will see Polygon develop to accelerate the adoption of NFTs and Web 3.0.
Polygon will leverage the expertise DraftKings has acquired in the digital sports sector to introduce a whole new NFT audience to Polygon Studios: Polygon’s gaming and NFT arm, which focuses on bridging the gap between Web 2 and Web 3 gaming.
Axion Network, a high-yield interest rate platform for long-term investing, will…