When was MATIC coin issued? Learn about the origin of MATIC coin in one article

Originating in 2017, MATIC coin emerged as the governance token of Polygon, a layer-2 scaling solution that addresses Ethereum's scalability limitations.

Oct 07, 2024 at 01:48 pm

The Genesis of MATIC Coin: Exploring Its Origins

Inception in 2017:
MATIC coin has its roots in 2017, when a team led by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun founded Polygon.
Initial Coin Offering (ICO) in 2019:
In April 2019, Polygon conducted an ICO to raise funds for its project. During the ICO, 25% of the total MATIC supply was sold, raising $5 million.
Mainnet Launch in May 2020:
On May 20, 2020, Polygon deployed its mainnet, officially launching the MATIC coin. The mainnet consisted of two blockchains: Polygon Classic and Polygon Proof-of-Stake.
Governance Token:
MATIC serves as the governance token for the Polygon network. Holders of MATIC can vote on proposals to improve the network's features and functionality.
Utility and Ecosystem:
MATIC is used for various purposes within the Polygon network, including:
- Staking to secure the network
- Paying transaction fees
- Participating in governance
- Building and deploying decentralized applications (dApps)
Adoption and Partnerships:
Since its launch, Polygon has gained significant adoption, attracting partnerships with major companies like Stripe, Coinbase, and Mark Cuban. MATIC's use across different applications and industries has contributed to its growth.

Additional Insights:

MATIC is an ERC-20 token built on the Ethereum blockchain.
The MATIC coin has experienced significant price fluctuations since its inception, but it has maintained a strong presence in the cryptocurrency market.
Polygon's solution to Ethereum's scalability and cost issues has made MATIC a valuable asset for developers and users.

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