Thread by @Momentum_6

@0xPolygon addresses some of the challenges that face the @ethereum network. There's been a lot of buzz around $MATIC lately, but the chain was down for 8 hours last week.

Read more about the sidechain (or Layer 2??) in our latest article: bit.ly/37DCo0L

1/ Polygon has various scaling solutions, and users are at liberty of selecting the scaling solution that suits them best. Some of these solutions are already working, while others are still developing.

2/ Polygon performs most of the tasks you enjoy from Ethereum but avoids the low throughput and high transaction fees. Polygon started as a simple scaling solution, but it has now evolved to a broad ecosystem with various use cases.

3/ We can already see various successful projects on Polygon, such as yield generating protocols (@CurveFinance and @AaveAave), top NFT marketplace (@opensea), and decentralized exchanges (@SushiSwap).

4/ Even after rebranding, the team decided to keep $MATIC as the native #token that powers the entire Polygon ecosystem. The rebranding boosted its growth in price as the protocol also implemented new features. $MATIC is now among the top 20 currencies in terms of market cap.

5/ @polygonstudios seeks to attract big franchises and brands looking to launch NFTs and games on a secure protocol while maintaining scalability. Data from Polygon shows that more than 100,000 #gamers are already on the #protocol and more than 500 #dApps running.

6/ Polygon launched the #DeFiforAll Fund in the first quarter of 2021 to onboard the “the next million users” to DeFi. The funding is in MATIC tokens and will be deployed over the next 2 to 3 years.

7/ Even though we have seen tons of projects that have been dubbed “Ethereum killers,” Polygon is not one of them. Its advanced dApp infra gives a competitive advantage as existing Ethereum projects can easily port their code on Polygon, enabling new projects to launch on-chain.

8/ Read more content on our Medium: medium.com/momentum6

Contributor ✍🏾: @Crypto_Clarke