{"id":466801,"date":"2021-07-03T23:33:34","date_gmt":"2021-07-03T23:33:34","guid":{"rendered":"https:\/\/wncen.com\/?p=466801"},"modified":"2021-07-03T23:44:42","modified_gmt":"2021-07-03T23:44:42","slug":"polygon-vault-makerdao-matic-tokens","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/polygon-vault-makerdao-matic-tokens\/","title":{"rendered":"Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens"},"content":{"rendered":"
Polygon has announced the integration of yield optimization vaults on the Maker Network. The blockchain-enabled protocol, formerly referred to as the Matic Chain, tweeted on Wednesday that it “will be opening a vault on Maker” and investing $50M of MATIC tokens<\/a> as agreed liquidity from the treasury.<\/p>\n With the recent integration, it means the protocol has now broadened in scope, vision, and transformation to become an Ethereum scaling aggregator.<\/p>\n Related Reading |\u00a0<\/em><\/strong>Scaramucci’s Skybridge Capital Launches Ethereum Fund<\/em><\/strong><\/a><\/p>\n Such feet, among others, would see the protocol network providing developers with L2 solutions. This will be in addition to the POS\/Plasma chain – mainnet, launched in April 2020.<\/p>\n Polygon provides the core components and tools to join the new, borderless economy and society. Two key platforms materialize it: The polygon framework and the Polygon protocol.<\/p>\n With these technologies, any project can quickly spin up a dedicated blockchain network that combines the best\u00a0features<\/a>\u00a0of “stand-alone blockchains (sovereignty, scalability, and flexibility) and Ethereum (security, interoperability and developer experience).”<\/p>\n Plus, these blockchains are friendly with all the existing Ethereum tools such as Metamask, MyCrypto, Remix, etc. So again, the exchange of information among themselves and with Ethereum is facilitated.<\/p>\n Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program<\/a><\/em><\/strong><\/p>\n Summary<\/em>: Polygon is a blockchain protocol and a framework for creating and connecting Ethereum-compatible blockchain networks.<\/p>\n One is collapsing together scalable solutions on Ethereum and supporting multiple chains in the Ethereum ecosystem.<\/p>\n MATIC, the native token of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem.<\/p>\n <\/p>\n This has turned out to be quite positive for the MATIC community as the token as hovering in the green-zone marking 1% of growth at the time of writing this article.<\/p>\n As an integral part of the announcement, $50M of MATIC tokens have been committed by Polygon on the newly opened vault on Maker.<\/p>\n MakerDAO<\/a> is an organization developing technology for borrowing, savings, and a stable cryptocurrency on the Ethereum blockchain.<\/p>\n It has created a protocol permitting anyone with ETH and a MetaMask wallet to loan themselves money in the form of a stable coin referred to as “DAI.”<\/p>\nKey Terms Explained<\/strong><\/h2>\n
About The Polygon<\/h3>\n
What Is Matic Token?<\/h3>\n
MATIC set to follow an upward trend in the daily chart. Source: MATICUSD Tradingview<\/a><\/pre>\n
About MakerDAO<\/h3>\n