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Polygon Launches "Supernet Chains", Invests $100M in Web3

 


Polygon, a blockchain network designed to scale Ethereum, is providing $100 million in funding for developers to drive adoption of its platform.


As the blockchain project announced on Friday, separate "supernet chains" will also be launched in this context, on which developers can try out as they please and at almost no cost. The programmers can create their projects either on the Supernet Sovereign Chain or the Supernet Shared Security Chain. The former is managed by just one validator, making operational costs significantly lower, while the latter offers greater decentralization, with professional validators locking their assets in Polygon ( MATIC ) into the staking of the network.


Although the Supernets are based on Polygon Edge, a developer framework for projects wanting to design their own blockchains, the Supernets go far beyond its functionality by incorporating more security and decentralization into it. To encourage the use of these supernets, Polygon is now making $100 million available to developers who want to build their projects on the network.


Polygon co-founder Sandeep Nailwal thinks that the supernets will be an important tool to “make Web3 suitable for the masses”, because projects in this area in particular could make a major contribution to ensuring broad adoption of blockchain technology.

Accordingly, it was primarily Web3 that brought in $450 million in investment capital from investors such as Sequoia Capital India, SoftBank Vision Fund 2, Galaxy Digital and Tiger Global in a recent round of financing for Polygon . In addition, Polygon has partnered with Reddit co-founder Alexis Ohanian to launch a $200 million social media initiative for Web3 .


After a total of more than 25 billion US dollars were invested in blockchain startups in 2021 , the investors in 2022 have so far mainly focused on Web3. Framework Ventures alone this week designated half of a $400 million investment fund for use in Web3.

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