With a mission to scale Ethereum, Polygon has been one of the fastest-growing blockchain ecosystems in the world. Polygon’s use cases span Decentralized Finance (DeFi), gaming, and non-fungible tokens (NFTs). In total, Polygon is a suite of about a half dozen protocols that each have a different focus within the world of Layer-2 technology that helps to scale Ethereum. Polygon has announced it is working with Starbucks, Disney, and Reddit across a wide range of projects. Additionally, developers use Polygon because it provides a cost effective test environment for Ethereum-built applications.
*Stated Annual Percentage Reward (APR) is estimated based on reported network data. APR stated is not guaranteed and may fluctuate overtime.
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What is Polygon (MATIC), and what is it used for?
MATIC is used to pay transaction fees, distribute staking rewards, and make governance decisions on Polygon’s Proof-of-Stake blockchain. Polygon’s main focus is to build highly scalable and interoperable solutions that are Ethereum-compatible.
What are Polygon staking rewards?
Staking rewards in the form of native blockchain tokens (MATIC) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest Polygon staking reward figures.
What are the current use cases of Polygon?
Polygon’s robust range of use cases includes powering the Web 3.0 arm of some of the world’s largest tech and consumer companies, including Reddit, Starbucks, and Coca-Cola.
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