What is a Matic token & how does it work?

The MATIC token is used for a variety of purposes in the Polygon ecosystem, including participating in network governance by voting on Polygon Improvement Proposals (PIPs), contributing to security through staking, as well as paying gas fees.

What is polygon Matic?

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. To learn more about this project, check out our deep dive of Polygon Matic.

Why should you choose Matic?

By avoiding a mandatory web connection, Matic can stay clear of the privacy nightmares that have been associated with numerous smart home devices and offer a unique package for people interested in an autonomous cleaning machine but don't want to give away their sense of privacy.

What percentage of Matic's supply was sold in 2017?

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. The MATIC price was $0.00263 per token, and $5 million was generated. Team tokens: 16 percent of the total supply. Advisors tokens: 4 percent of the total supply.