Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.




Market leadership


  • Polygon is a popular "layer two" (L2) blockchain scaling solution running on Ethereum sidechain

  • $456M investments are raised in total

  • MATIC is Polygon's native token used to govern and secure the network by staking

  • 37,000+ decentralized applications (dApps) are running on the network

  • Social media presence is growing substantially with 63% and 59% new followers attracted on Twitter and Reddit respectfully in the past year


Overall rate

Team expertise


Fundrising experience




Industry influence


Social impact


Polygon is an efficient blockchain scaling solution with a skilled team of professional developers and experienced founders who work on building a close community of supporters, users and investors. By being a Layer 2 solution, Polygon allows thousands of developers to create decentralized solutions (dApps) on its network and solve the main problem of Ethereum - scaling. Polygon is one of the leading projects in the Ethereum scaling solution segment. Its token, MATIC, is a desirable asset for investors because of the team and technology behind it. Although enterprises are only starting to implement Polygon solutions, its potential to grow the network and market influence is undoubted.

Market-wise, Polygon operates in a high-demanding and competitive market, leading the whole pack of next-gen blockchain scaling solutions.
Market leadership
Project goal
The main goal of the project is to solve Ethereum scaling problem by providing tools to improve the speed, cost, and complexity of transactions on the Ethereum network.

One of the core problems with the Ethereum network, which can process 15 transactions per second, is scalability. As more and more decentralized apps (dApps) are built on the network and the number of transactions increases, so do the gas fees.

Polygon, being a Layer 2 solution, processes transactions faster than Ethereum's mainchain and has significantly lower gas fees. Polygon sidechains can handle up to 72,000 transactions per second, while the Ethereum blockchain can handle only around 30 per second.
Project Objectives
  • To provide tools to improve the speed, cost, and complexity of transactions on the Ethereum network.
Polygon is a layer 2 scaling solution on the Ethereum network. While it exists alongside the original chain, it creates a separate chain that is faster, maintains higher TPS (transactions per second), and lowers fees per transaction.

  • To provide access to new kind of internet services that are built using decentralized blockchains, called Web3, for all.
They attempt to achieve this by providing developers a scalable user-friendly platform for building decentralised applications (dApps) with low transaction fees and without sacrificing security.
Starkware, Arbitrum, Loopring, and Matter Labs, Optimism - all of them create solutions designed to enhance blockchain scalability through increased network throughput and reduced transaction costs.
Polygon's team of 500+ professionals from different backgrounds is led by experienced entrepreneurs with deep knowledge in software development and blockchain technology. Several points were taken off because none of the original co-founders had proven experience in the financial sector. But overall, Polygon has a strong and fast-growing team building widely-used tech products.
Team expertise
Founded in 2017, Matic Network's team mostly consist of software developers from India and overseas. Matic Network, which is now called Polygon, is the first made-in-India cryptocurrency unicorn.

  • 500 employees are listed on LinkedIn
  • 80+ job openings
  • Accelerated hiring during 'Crypto winter' of 2022
  • HQ: Bengaluru, India
Jaynti Kanani
creator and co-founder
  • Experience in IT:
    11 years in software development (Persistent Systems, Housing.com).

  • Experience with blockchain:
    has been a part of the ethereum and bitcoin blockchain communities since long.
Sandeep Nailwal
co-founder and COO
Sandeep Nailwal is a co-founder and COO at Matic Network.

  • Experience in IT:
    12 years in software development (Deloitte Technology, Welspun Group).

  • Experience with blockchain:
    In 2016, he founded ScopeWeaver, a firm that provides blockchain products and dApp architecture design. Interviews with Sandeep are on Binance and Entrepreneur
Anurag Arjun
co-founder and CPO
Anurag Arjun is a co-founder and CPO at Matic Network. He is a serial entrepreneur, one of the first crypto billionaires in India.

  • Experience in IT:
    15 years in project and product management (IRIS Business, SNL Financial and other companies).

  • Experience with blockchain:
    has been a part of the ethereum and bitcoin blockchain communities since long.
The first investment rounds displayed lower interest than some of Polygon's main competitors, but after 2021 everything changed. After tech billionaire Mark Cuban openly supported the project, Polygon raised an astonishing $450 million. This round was led by investment titans, such as Sequoia Capital India, Galaxy Digital, Tiger Global, and other A-class VCs.
Fundrising experience
Total investments raised

  • Initial Exchange Offering (IEO). Polygon conducted its MATIC token sale on Binance Launchpad platform in April 2019. Polygon raised $5 million through the sale, an average MATIC price was $0.0026

  • Seed Round. Coinbase Ventures became the first seed investor of Matic Network in 2019. The estimated investment is $450k, an average MATIC price was $0.0026

  • Round A. In 2020, John Lilic invested $1M in Polygon, he is currently a Polygon's Product Development Advisor.

  • Angel Investment Round. In May 2021, US-based entrepreneur and tech billionaire Mark Cuban invested in Polygon. The amount of investment is undisclosed.

  • Venture Round. Polygon raised about $450 million through a private sale of its native MATIC token in a funding round led by Sequoia Capital India with participation from SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and prominent investors like Alan Howard (co-founder, Brevan Howard) and Kevin O'Leary (Mr. Wonderful from ABC's Shark Tank).
Polygon was selected as one of six companies in Disney's 2022 Accelerator program to expand its Web3 infrastructure via a new project with media conglomerate the Walt Disney Co. (DIS). Polygon was the only blockchain-native platform chosen for Disney program. Discover more on Bloomberg.
Limited emission, fast transaction speed and lowered cost per transaction help MATIC to remain a desirable asset for crypto investors.
MATIC ticker: $MATIC

Max Supply:

Token Release Schedule: end of 2023

TPS (Transactions per second): 72,000 (estimate)

Developer Activity: High

For the first time, Polygon's MATIC cryptocurrency went public in 2019. Then, during the IEO - the initial placement of the coin on the exchange - the company sold 3.2 billion tokens, which is about 32% of the total supply.

The initial token distribution is as follows:

  • Private Sale: 3.80%
  • Binance Launchpad Sale (IEO): 19% of the total supply.
  • Team: 16%
  • Advisors: 4%
  • Network Operations: 12%
  • Foundation: 21.86%
  • Ecosystem: 23.33%

After the rebranding, Polygon retained its MATIC cryptocurrency, the digital coin at the heart of the network. MATIC is used as a unit of payment and mutual settlements between participants who interact within the network.

Polygon is actively expanding its market influence with community-driven projects and its products that allow developers to build tens of thousands of decentralized applications. Although the project has shown its' undeniable efficacy with web3 projects, several points were taken off because enterprises are only starting to get their foot in the Polygon ecosystem.
Industry influence
Technology Usage
  • In August 2022, there were 37,000+ decentralized applications (dApps) running on the network (x2 since March 2022)

  • 11,800 monthly active teams build on Polygon Proof of Stake (POS) sidechain

  • 74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum

  • Popular Web3 projects: Aave, Uniswap V3, OpenSea, The Sandbox, etc.

  • Enterprises involved: Adobe, Stripe, Atari, Telefonica, Dolce Gabbana, etc.
Polygon actively engages with its audience and supports software development initiatives through several projects, including developers events, hackathons, and an advocacy program for dedicated community members who want to engage in Polygon work processes in growing the platform and Ethereum in general.
Polygon has a strong following base on Twitter and grows its relatively smaller communities in other platforms, such as Reddit, Telegram, Youtube and others. Polygon founders are also building personal brands on Twitter.
Social impact
1.62M followers on Twitter (+63% in the past year)*
52k users on Reddit (+59% in the past year)
70k+ members on Telegram
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