Matic wants its incubator fund to incentivize promising DeFi projects to build on its scalable sidechain, rather than directly onto Ethereum itself.
The first iteration of Matic Network's staking program is now live and has already allocated 12% of its token supply to the project.
The exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of "high gas costs."
Matic, a sidechain scaling solution for Ethereum, has deployed the first 10 nodes of its mainnet after several years in development.
The Matic Network cryptocurrency (MATIC) plunged significantly in the past 48 hours, erasing a four-week rally.