Just as Ethereum offers node staking, so does Polygon. The more MATIC tokens you stake with them, the more tokens you will receive as a reward. The payout is in MATIC, and Current APY is 4.9%.

If you would like to learn more about staking the MATIC token you can view Polygons official staking guide here.

• Nike
• Adidas
• Starbucks
• Reddit
• Meta
• Robinhood
• eBay
• Disney
• Stripe
• Adobe

Over 37,000 dApps.

If you would like to view a list of current dApps using Polygon, click here.

Over 1.5 million digital wallets.

Polygon NFT market The Polygon NFT market is currently in its infancy.

The Polygon chain has huge potential due to its eco-friendly, low gas fees and high transaction speeds.

To purchase Polygon NFTs, you need to purchase their native token, MATIC.

On January 4th, 2023, The co-founder of Polygon spoke on Twitter spaces about their plans for NFTs.

Polygon aims to become a powerhouse NFT platform. They certainly have the funds and determination to achieve this. Polygon paid (3 million US dollars) the y00ts NFT collection to migrate from the Solana chain to the Polygon chain. This collection is considered to be the future blue chip of Polygon NFTs.

We are at the very beginning of this NFT market. Currently, there is no real Twitter Polygon community or NFT pfps. Polygon aims to change this.

Polygon initially concentrated on bringing big brands and gaming to their blockchain.

They have been successful with this (they are the leader in celebrity and gaming branding) and now aim to bring pfps and NFTs to their network.

“My thesis for NFTs is that there have been three larger segments. First is this collectible PFP, an art kind of NFT. The second segment is gaming, and the third is brand and sports and engagement types of NFTs. Back in 20-21, when Polygon’s ecosystem was growing, we did a lot of soul-searching, and at that time, the industry war cry was that we needed to go main- stream.” Sandeep Nailwal, Co-founder & Chief Operations Officer, Polygon.

During December 2022, over 1.3 million Polygon-based NFTs were sold on OpenSea alone.

This equates to 15.3 million US dollar volume traded from 116,000 traders.

The MATIC token helps run the Polygon ecosystem.

“MATIC is the native token of Polygon. It is used to govern and secure the network by staking. It's the currency of Polygon apps that enables users to interact with hundreds of dApps involved in our ecosystem.” Official Polygon website.

MATIC is the native currency of the Polygon blockchain network, which enables dApps and DeFi applications to transact on the network.

The network uses a Proof-of-Stake consensus mechanism to validate the transactions. There is a wide range of advantages for blockchain enthusiasts worldwide to deploy their projects on the Polygon network.

The perks for choosing the Polygon network include but are not limited to interoperability with the existing Ethereum network, achieving a transaction speed of 65,000 transactions per second, and low transaction fees.

Therefore, the Polygon network levies much lesser gas fees comparatively while maintaining the high standards of the Ethereum network.

Gas token

“MATIC is the lifeblood of Polygon chains. When you conduct any transaction or use a Polygon application, you'll pay a small fee in $MATIC to use the Polygon chains. This fee is an incentive for miners to process and verify what you're trying to do.” Official Polygon website.

Network security

“Polygon employs a Proof-Of-Stake mechanism that uses staked Matic tokens to reach consensus on the network. By staking $MATIC, you can secure the Polygon network and earn rewards. In this system, the threat of losing your $MATIC disincentivizes attacks.” Official Polygon website.