Polygon developers will get support from $21M fund released by Polygon and AU21


TL;DR Breakdown

  • Polygon ecosystem has a lot of upcoming projects.
  • The recent spike in Polygon’s coin MATIC has increased its demand.
  • The ecosystem and AU21 Capital are now joining hands.

Polygon is one of the most promising blockchain institutions that seek to remove scalability issues and promote faster and efficient crypto transfers. It has a lot of upcoming projects lined up as it gears up to implement new developments in its functioning. To promote development, a huge number of changes need to be made. Therefore, a large chunk of capital was generated by the ecosystem as it teamed up with AU21 Capital.

The development of Polygon

A huge amount of funding is needed for development in any organization and for this purpose, the partnership between Polygon and AU21 Capital seems to be quite amazing. The two blockchain giants have decided to work together and raise money for the development of the network. The amount raised by the companies comes around at $21 million. This is indeed a hefty amount.

This funding will be used to develop the blockchain and design it with improvements. This will make it easy to include all the projects that are currently being built on the network chain. It is very important to make these developments and improvements before the owners decide to go ahead with the projects. The funds are intended to provide support in the development and improvement of the network along with marketing support too. The marketing support will give the network the boost that it needs to launch the projects that are being built.

“First, Polygon’s coordination with Ethereum allows us to capture an already active ecosystem. Second, Polygon’s exceptional development potential has already been realized through a number of partnerships with top DeFi protocols, creating an important framework for future development on Polygon’s infrastructure.”

Alexi Nedeltchev, the officer who is the manager of AU21-Polygon Fund

The network has grown in demand and keeps growing each day. Its interaction with Ethereum also gives it a better advantage than other coins and therefore, it can be said that the network has a brilliant future ahead. Within just a week in the month of May, the network was able to attract 75,000 new users to its network which is laudable.

Another huge personality behind the network is the billionaire and also the person who owns Dallas Mavericks, Mark Cuban. He has come forward as a humongous entity that uses the network and also believes in its importance. With Mark Cuban’s stance, it can be seen that he is definitely looking forward to the Polygon network’s growth and is actively playing a huge role in it.

Not only this, it can be speculated that the Polygon network has the financial backing of Mark Cuban as well. In all, the AU21 Capital and Polygon together will fund the developing of the network allowing other serious projects to be built on it with great ease and higher efficiency.

[wp-faq-schema title="FAQs" accordion=1]
Parth Dubey

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

Related News

Hot Stories

Bitcoin, Ethereum, Maker, and Helium Daily Price Analyses – 5 October Roundup
Did authorities freeze Do Kwon's assets?
Neo price analysis: is NEO/USD gearing up for positive action above $8.6?
Crypto Exchange OKX blacklisted in Russia due to unclear grounds
LCX Price Prediction 2022-2031: Why is LCX a Good Investment?

Follow Us

Industry News

Did authorities freeze Do Kwon's assets?
Crypto Exchange OKX blacklisted in Russia due to unclear grounds
Hollywood star teams up with a crypto firm to give out free NFTs
BUSD turns 3. Here's a recap on how it all happened
What’s next for LUNC after Binance burns $1.8M in tokens?