MATIC soars 40% after billionaire’s investment in Polygon

The aggregator of scaling of the Ethereum network, Polygon, attracted investments from billionaire Mark Cuban, which triggered the growth of the MATIC token by 40%

The native token of the Polygon project (MATIC) has soared in price by 40%. Growth is happening on the background of the announcement the development team announced that the project was included in the investment portfolio of billionaire Mark Cuban. At the time of writing, the MATIC token is trading at $2.27.

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Source: nomics.com

The billionaire’s website reports that solutions from Polygon have already become widespread and are represented by such indicators as 250+ DApp applications, ~76 million transactions and ~790 thousand unique users. As stated by Cuban, he is a user of Polygon and uses it “more and more often”. However, exactly how much Cuban plans to invest in Polygon remains unknown.

It is noteworthy that the Polygon zoom aggregator has been attracting more and more attention in recent months. For example, well-known decentralized finance (DeFi) platforms like Curve Finance, Aave and mStable have already launched their protocols in the project network.

See also: The volume of perpetual swaps on MATIC for six months soared by 140,000%

Polygon is expected to provide the DeFi protocols with a cheaper architecture. Recall that the prices for commissions on the Ethereum network have fallen, but according to Etherscan, the average commission for a token swap on Uniswap will still cost $ 15.

Speaking about Mark Cuban’s investment, Polygon Chief Operating Officer Sandeep Nailwal called it “mind-blowing,” adding:

“It was impressive to find out that he [Кьюбан] I was aware of all the nuances of the industry, technologies and implementation that we had been working on for several months.”

Moreover, the owner of the Dallas Mavericks basketball team noted that he is integrating Polygon into Lazy.com, a portfolio company that allows people to showcase their non-exchangeable Tokens (NFT) and personal galleries.

In late April, Polygon announced the creation of a new $150 million DeFi fund. The goal of the fund is to expand the reach of the young financial sector to a wider user base. Earlier, the volume of transactions on Aave increased by 50%. Read about how the solution from Polygon helped this in the BeInCrypto article.

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