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Polygon

MATIC Network (Polygon) Token Analysis 31/03/2021 Fundamentals: Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance. Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts. Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem. Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain. The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain. MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens. Polygon is self-described as a Layer 2 scaling solution, which means that the project doesn’t seek to upgrade its current basic blockchain layer any time soon. The project focuses on reducing the complexity of scalability and instant blockchain transactions. Polygon uses a customized version of the Plasma framework which is built on proof-of-stake checkpoints that run through the Ethereum main-chain. This unique technology allows each sidechain on Polygon to achieve up to 65,536 transactions per block. Commercially, the sidechains of Polygon are structurally designed to support a variety of decentralized finance (DeFi) protocols available in the Ethereum ecosystem. While Polygon currently supports only Ethereum basechain, the network intends to extend support for additional basechains, based on community suggestions and consensus. This would makePolygon an interoperable As a Layer 2 solution utilizing a network of proof-of-stake validators for asset security, staking is an integral part of the Polygon ecosystem. Validators on the network will stake their MATIC tokens as collateral to become part of the network’s PoS consensus mechanism and will receive MATIC tokens in return. Members of the network who do not wish to become validators can delegate their MATIC tokens to another validator, but will still take part in their staking process and earn staking rewards. In addition to the proof-of-stake checkpointing, Polygon uses block producers at the block producer layer to achieve a higher degree of decentralization. These block producers give finality to the main chains using MATIC tokens are released on a monthly basis. MATIC currently has a circulating supply of 4,877,830,774 MATIC tokens and a max supply of 10,000,000,000 MATIC tokens. At its initial private sale in 2017, 3.8 percent of MATIC’s max supply was issued. In the April 2019 launchpad sale, another 19 percent of the total supply was sold at $0.00263 per token to generate $5 million. The remaining MATIC tokens are distributed as follows: Team tokens: 16 percent of the total supply. Advisors tokens: 4 percent of the total supply. Network Operations tokens: 12 percent of the total supply. Foundation tokens: 21.86 percent of the total supply. Ecosystem tokens: 23.33 percent of the total supply. According to the release schedule, all the tokens will be released by December 2022. Polygon (formerly Matic Network) was launched in October 2017. Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant. Before moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum. The team included co-founder of Polygon, Jaynti Kanani. Jaynti, a full-stack developer and blockchain engineer currently serves as the CEO of Polygon. Jaynti played an integral role in implementing Web3, Plasma and the WalletConnect protocol on Ethereum. Prior to his blockchain involvement, Jaynti worked as a data scientist with Housing.com. Co-founder and chief operations officer of Polygon, Sandeep Nailwal is a blockchain programmer and entrepreneur. Before jointly starting Polygon (formerly Matic), Sandeep had served as the CEO of Scopeweaver, and the chief technical officer of Welspun Group. Anurag Arjun is the only non-programming co-founder of Polygon. As a product manager, he has had stints with IRIS Business, SNL Financial, Dexter Consultancy and Cognizant Technologies. Technical Analysis: the price is in the retracement phase and soon will start its impulsive wave, there are total of 2 Targets defined by the Fibonacci expansion of the previews Bullish wave, the 1 TP is 127% the 2 TP is 161.8%
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by BitonGroup
15
MATIC, large CHANNEL breakout! But where to open LONG?Polygon (MATIC) is in a large growing channel. As the global trend is still ascending, we expect further price growth! Where should we take long positions? Be careful when price touching the lower boundary of the channel. This is where the BIG players like to collect liquidity (fool the traders and collect their stops). There should definitely be an increase in volumes - a sign of a big player! After that, it is safest point to open LONG positions. If Bitcoin continues to rise, MATIC will quickly reach the upper boundary of the channel! Friends, press the "like" button and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
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by Yuriy_Bishko
11
Matic ; Falling wedge patternOn 16 March, MATIC’s price squeeze ended as it broke out of the falling wedge, forecasting a 36% ascent to $1.95. Making this breakout interesting and adding a tailwind is the daily demand zone, extending from $1.15 to $1.36. Since the breakout, the crypto has rallied by 28% and at press time, was hovering above the $1.60-support level. Going forward, MATIC’s price could undergo a minor retracement that retests the $1.64 barrier before embarking on its uptrend. The bulls are likely to retest the target at $1.95, but in some cases, the rally might extend to the $2-psychological level. Such a move would push the total gains from 36% to 48%.
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by farzan260
Polygon (MATIC) Buy ZonePolygon (MATIC) Buy Zone -------------------- BIAS Long-Term : Bullish Risk : Medium As long as we remain this entry zone, we can expect further bullish momentum to build up over the next couple of days and eventually lead to a short-term break above $1.545 zone and higher. -------------------- $MATIC/USDT LONG SETUP Leverage : x3 - x5 Entry Price : 1.425 - 1.51 TP 1 : 1.545 TP 2 : 1.575 TP 3 : 1.6 TP 4 : 1.66 TP 5 : 1.715 TP 6 : 1.788 TP 7 : 1.84 TP 8 : 1.89 Stop Loss : 1.325 *Maximum 3% of Portfolio. *Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry. --------------------
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by Zerene
1
MATIC/USDT - H&SNo need for an introduction here. $2.51 will be a invalidation point for me. Also watching TOTAL3/BTC chart showing there may be a sign of weakness in all ALTS. So shorting ALTS will be the play but ensure you know where to TP, because once P.A reverses ALTS have a habit of ripping on bounces. I must stress that anything can happen, this may run and this may not and just pump, hence always take first priority of trading is Risk management - if you don't control this the market will get eaten alive. Trade safe and well people.
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by BullnBear_Markets
MATIC Polygon: 4H Chart ReviewHello friends, today you can review the technical analysis idea on a 4H linear scale chart for Polygon ( MATICUSD ). Polygon price has been on a downward trend with the price recently narrowing into the apex of a triangle. There are multiple Support and Resistance Lines shown. The price may make an attempt to get to the 0.236 and 0.382 Fibonacci Retracement areas with the Ichimoku Cloud possibly creating resistance. RSI, MACD and MFI look bearish. Price is below the 20, 50 and 200 SMA. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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by MillionaireEconomics
2