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1.91%Polygon Commits $100M to ‘Supernets’ as Layer 1s Stand Up Application-Specific Blockchains
Polygon has announced Supernet chains, pledging to invest $100 million to attract the development of customizable networks.
Updated May 11, 2023, 4:28 p.m. Published Apr 22, 2022, 1:26 p.m.
Polygon plans to invest $100 million in customizable "Supernet" chains, customizable networks that projects will be able to run without cost.
- The tool aims to fast-track blockchain adoption by reducing the barrier of entry for developers who previously used Polygon Edge.
- On each Supernet, validators will stake MATIC tokens on the mainnet before going on to validate the network to ensure a robust level of security.
STORY CONTINUES BELOW
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- "The infrastructure tooling enables users to achieve desired outcomes easily and quickly," Polygon co-founder Sandeep Naliwal said in a statement. "Polygon's goal is to bring mass adoption to Web3 as the key to blockchain adoption is to provide a comprehensive range of options for enterprises."
- In March, Avalanche committed $290 million to a Multiverse Fund, some of which will be used to develop "Subnets," a similar concept to Polygon's Supernets.
- Both efforts ultimately aim to scale application-specific blockchains, particularly those focused on consumer or enterprise use cases.
Read more: Avalanche Commits $290M in AVAX to Attract Gaming, DeFi and NFT ‘Subnets’
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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