Polygon Launches Supernets Network To Support Web3

JAKARTA – Polygon (MATIC) as a layer 2 network has officially announced its newest project, Supernets, on April 22. Supernets are blockchain protocols intended to support Web3 technology.

Furthermore, Polygon promised 100 million US dollars (around Rp. 1.5 trillion) for early Supernet users. This is considered to be able to help accelerate the adoption process. The announcement also explains that Supernets are essentially Polygon Edge networks.

Polygon Edge is a customizable blockchain stack that allows users to launch custom blockchain networks that do specific things. Following the launch of Edge 11 months ago, the team has revealed Polygon Supernets, a project powered by Edge with less complexity.

While Supernets are still using Edge, the latest launch offers “a few important characteristics” that reduce the complexity associated with Edge. Supernets allow developers to build custom networks without all the costs associated with servers.

The Polygon team says Supernets are a custom solution, because “each Supernet is built and run for a specific application, project, or use case,” which gives users the advantage of “custom Web3 hosting.” The network can also be secured using Polygon's native crypto asset, MATIC.

To increase awareness and adoption, Polygon further revealed that it allocated 100 million US dollars for Supernet early adopters.

"Extremely excited to introduce Polygon Supernets powered by Polygon Edge," the Polygon team wrote in their official Twitter post.

“Polygon Supernets is a dedicated and scalable blockchain that aims to fuel the mass adoption of Polygon and Web3. To support this ambitious product and goal, we're announcing a $100 million endorsement fund."

Polygon has made a lot of business developments and moves over the last 12 months, and during the first week of February, the project raised US$450 million from investors such as Sequoia Capital India, Softbank and Kevin O'Leary of Shark Tank.

Last December, Polygon acquired Mir Protocol for US$400 million and in the same month Polygon started a US$200 million social media-based Web3 fund with Alexis Ohanian's Seven Seven Six venture capital.

This April, Polygon announced the launch of a zero-knowledge identity platform for Web3. According to Supernet's announcement Friday, $100 million will be distributed for things like development contracts, research contracts, grants, third-party integration and partnerships, onboarding and migration, liquidity mining, and acquisitions.

“For mass adoption of Web3 to take place, it is imperative to abstract away the complexities of blockchain development and simultaneously offer scalability and personalization capabilities. Polygon Supernets delivers all this, enabling any project to accelerate their blockchain ambitions and join Polygon's growing multi-chain ecosystem," said Polygon co-founder Mihailo Bjelic, as summarized from Bitcoin.com News.

At the time of writing Polygon (MATIC) is trading at the level of Rp. 18,932. Data from Coingecko shows that MATIC's price performance has decreased by 4.2 percent in the last 24 hours.