We are excited to announce the launch of Polygon (MATIC) on Abra. MATIC is now available for trading in the app.
Polygon, formerly known as MATIC Network, is built as a layer 2 protocol that allows developers to scale and build infrastructure on the Ethereum blockchain. With Ethereum’s scaling issues tied to robust security and decentralization, Polygon has emerged as an alternative for many blockchain projects that want the best experience on the Ethereum blockchain network.
History of Polygon
Polygon launched in October 2017 on the Ethereum blockchain before moving to its mainnet in 2019. Polygon received support from the Ethereum team and also contributed to the Ethereum ecosystem. They helped integrate a Plasma MVP and the widely popular Dagger event notification engine on the Ethereum network.
Since moving to its side-chain network in 2019, Polygon has been focused on developing its ecosystem with numerous partnerships and upgrades to its architecture.
Why did MATIC rebrand to Polygon?
Polygon was previously known as MATIC Network before it was rebranded in February 2021. This was done as a strategic play as they shifted ideology towards becoming the “internet of blockchain” on Ethereum. Polygon incorporates an all-inclusive ecosystem for Ethereum. It will be cross-chain compatible and drive Ethereum’s migration into a third-generation blockchain network.
In summary, if you’re a long-term HODL’er of Ethereum, MATIC presents a strong value proposition to complement that network.