Polygon (MATIC) announced the launch of a new blockchain project “Avail”
Today’s press release is very hot because Polygon has announcements to the left and right. The platform announced “Avail”-described as “a powerful universal scalable data availability layer.” In addition, the platform also announced the launch of Pickle.Finance, a revenue aggregator.
The latest news from Polygon: Avail
in a Press release At the beginning of this week, Polygon stated that Avail will focus on independent chains, side chains, and off-chain scaling solutions. The platform has been dedicated to Avail since the end of 2020, and is currently in the development network stage, “test network is under development.”
The press release continues to break down the three main types of peers in today’s Ethereum-like ecosystem: validator nodes, full nodes, and light clients, as well as the execution architecture between the three.
Avail seems to have taken a unique approach, which is likely to be included in Ethereum 2.0, using data availability checks. As the team described, “Avail simplifies the problem of block verification to data availability verification”, so a consensus block is only valid when the data behind the block is available.
Avail looks to change the common architecture seen in many ethereum-based blockchains. | Source: Polygon Medium
Related Reading | Polygon (MATIC) releases Ethereum Connected Chain Development Kit
Pickle.Finance: Revenue Aggregator
in Another announcement Starting this week, Pickle Finance will be launched on Polygon, which previously operated mainly on Ethereum.
Pickle uses “Pickle Jars” to compound the rewards users get from other protocols, and “Pickle Farms” to reward users for staking their Jar tokens. Multiple farms allow users to earn PICKLE token rewards with multiple pledged assets.
As part of the announcement, Polygon will provide $12,500 in MATIC rewards every week for eight weeks.
The chain continues to grow
Polygon was tearful this year and continues to announce new projects, user growth, and DeFi engagement. After the $MATIC token hit an all-time high less than two months ago, today’s announcement continues this sentiment of the team. Despite “returning to the earth”, the $MATIC token has risen by nearly 6,000% this year, and it looks expected to continue to grow.
The adoption rate has also remained stable, user growth has been strong, and investment has come from celebrities such as Mark Cuban, who is integrating the platform into his NFT website Lazy.com. DeFi has always been the main throughput of the platform, and the low cost relative to the Ethereum mainnet makes the chain an attractive choice for many people. Cuban said in a statement on Polygon investment, “I found myself using it more and more.”
The $MATIC token has seen substantial success this year. | Source: MATIC-USD on TradingView.com
Related Reading | Polygon ($MATIC) active users increased by 75,000
Featured image from Pixabay, Charts from TradingView.com