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Polygon Commits $100M to ‘Supernets’ as Layer 1s Stand Up Application-Specific Blockchains
Polygon has announced Supernet chains, pledging to invest $100 million to attract the development of customizable networks.
Updated May 11, 2023, 4:28 p.m. Published Apr 22, 2022, 1:26 p.m.
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Polygon plans to invest $100 million in customizable "Supernet" chains, customizable networks that projects will be able to run without cost.
- The tool aims to fast-track blockchain adoption by reducing the barrier of entry for developers who previously used Polygon Edge.
- On each Supernet, validators will stake MATIC tokens on the mainnet before going on to validate the network to ensure a robust level of security.
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- "The infrastructure tooling enables users to achieve desired outcomes easily and quickly," Polygon co-founder Sandeep Naliwal said in a statement. "Polygon's goal is to bring mass adoption to Web3 as the key to blockchain adoption is to provide a comprehensive range of options for enterprises."
- In March, Avalanche committed $290 million to a Multiverse Fund, some of which will be used to develop "Subnets," a similar concept to Polygon's Supernets.
- Both efforts ultimately aim to scale application-specific blockchains, particularly those focused on consumer or enterprise use cases.
Read more: Avalanche Commits $290M in AVAX to Attract Gaming, DeFi and NFT ‘Subnets’
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