The Polygon (MATIC) network is among the smart contract blockchains that are well-prepared to withstand the test of time due to its development and strategic partnerships.
With a valuation of $6.6 billion, the Polygon network had a total value locked (TVL) in its ecosystem of around $944.38 million.
However, the figure is expected to grow exponentially in the coming years as the Polygon network is utilized by leading DeFi protocols in the Ethereum ecosystem, including the decentralized exchange Uniswap and the lending protocol AAVE.
As a result, the core developers of Polygon, in collaboration with Ethereum developers, have been working on how to securely scale communication between L2 and L1. In a recent post by Ethereum co-founder Vitalik Buterin, both networks are collaborating to ensure the safe adoption of smart contracts by mainstream users.
According to Flux, a decentralized Web3 computing network, direct interaction with Polygon (MATIC) is made possible through FLUX-MATIC, a parallel asset that enables Web3 scalability across both networks.
According to the announcement, users of the Polygon network can seamlessly participate in the Web3-focused Flux economy through staking, hosting Flux nodes, and earning mining rewards by exchanging the parallel asset for the native Flux token.
On the other hand, Flux-Matic parallel tokens will enable users in the Flux ecosystem to experience the immense power of the Polygon network through hybrid Proof of Stake and Plasma-enabled sidechains.
“Flux and Polygon share many commonalities. Therefore, this parallel asset will go a long way in increasing the adoption of blockchain technology for different use cases and improving the accessibility of these services to a global population,” noted Flux in a post.
In particular, Flux-Matic tokens will be available on various multi-asset exchange wallets that offer non-custodial services, including Zelcore, with the airdrop already underway since June 19.
The Flux protocol has already partnered with several blockchains to issue parallel assets on Ethereum, Binance Smart Chain (BSC), Kadena, and Algo. With Flux parallel assets, users can seamlessly access different blockchains with affordable transaction fees.
As a result, the Web3 industry can securely scale through decentralized cross-chains via L2 and L1.