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.

AccessTimeIconApr 22, 2022 at 1:26 p.m. UTC
Updated Apr 22, 2022 at 3:16 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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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Polygon Supernets (Polygon)

  • "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.

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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.