loader image

Polygon (MATIC), is a cryptocurrency that has gained a lot of attention recently. This blockchain technology aims to provide faster and cheaper transactions, while also improving the scalability of Ethereum. In this article, we will delve deeper into the history, founders, and tokenomics of the MATIC / Polygon Coin.

History

Polygon was launched in 2017 by three co-founders: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. It started as a layer-2 scaling solution for Ethereum, called Matic Network. The goal was to solve some of the scalability issues that Ethereum faced by providing faster and cheaper transactions. However, as time went on, the team realized that their technology could be used for much more than just scaling Ethereum.

In February 2021, the team rebranded Matic Network to Polygon. This rebranding was done to reflect the platform’s new focus on providing a multi-chain system that could be used by different blockchain projects. This rebranding was a major turning point for Polygon, as it helped the platform gain a lot of attention from the cryptocurrency community.

Founders

As mentioned earlier, Polygon was co-founded by three individuals: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

Jaynti Kanani is the CEO of Polygon. He has a background in computer science and engineering, and he has previously worked as a software developer at companies like Reliance Industries and Infosys.

Sandeep Nailwal is the COO of Polygon. He has a background in computer science and engineering, and he has previously worked as a software engineer at companies like Samsung and Qualcomm.

Anurag Arjun is the CMO of Polygon. He has a background in marketing and has previously worked as a marketing consultant for companies like Amazon and Samsung.

Together, these three individuals have helped to build one of the most innovative blockchain technologies in the world.

Tokenomics

Polygon’s native cryptocurrency is called MATIC. The token is used to pay for transaction fees on the network, and it is also used as a governance token. MATIC has a total supply of 10 billion tokens, with around 6 billion currently in circulation.

One of the most interesting things about MATIC is its tokenomics. The team has implemented a deflationary mechanism that burns a portion of the transaction fees paid in MATIC. This means that the supply of MATIC will gradually decrease over time, which could potentially increase the value of the token.