Is Polygon A Good Investment?

Note: Polygon’s MATIC token was upgraded to its new Polygon Ecosystem Token (POL) token on a 1:1 basis, becoming the network’s native gas and staking token as of Sept. 4.

Polygon Price Performance So Far

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Last 7 Days	+7.8%
Last 1 Month	-5.3%
Last 12 Months	-59.6%
Quality Of Investment	Poor

Compare whether Polygon is a better or worse investment option than other Cryptocurrencies

Is Polygon A Good Investment?

Polygon is a layer 2 blockchain that is a solution for Ethereum’s Scaling, Speed, and Transaction Fee issues. Polygon’s fix to these problems makes it a viable scaling solution for Ethereum. Polygon provides Security as a Service either through Ethereum’s blockchain or through Polygon’s pool of professional validators. Key Features –

• GAS Fees: It has placed its transaction fees in the range of $0.0005 to $0.2 which is minuscule compared to ETH’s $12. Polygon has saved more than $140 M in GAS fees till now.
• Polygon also helps in minting NFTs and staking with the help of its native token POL.
  • Polygon blockchain enables NFT trading. Due to its lower transaction cost, it becomes attractive for NFT developers. One of the biggest NFT platforms Opensea uses is the Polygon blockchain. Apart from it, the other NFT platform running on Polygon is Aavegotchi.
• Some of the Defi apps using Polygon are Compound, Aave, etc.
  Polygon Network is also used in the field of digital payments. Some of the payment apps using Polygon blockchain are atomic swap, jelly swap, etc.
• Polygon has also ventured into the field of Gaming with its own platform called Polygon Studios. A polygon with this division helps in the transition of gaming from Web 2.0 to Web 3.0.

Overall, Polygon is a fairly formidable blockchain well-ranked in use cases.

Pol ex-Matic Token

The POL Token has 2 purposes

• It is used as a gas fee which means every time a transaction goes through the Polygon network, apps will need to pay a certain number of POL Tokens as fees
• POL is also used for rewarding participants in the Proof of Consensus system. POL can be staked to earn rewards

While Polygon has been a Good Investment over the last many years, it has struggled during the last 12 months.

Polygon network is well funded. In 2022, it has raised fresh capital this year that gives the founders the flexibility to build Polygon into a profitable blockchain that drives POL Token demand even higher. Polygon is faster and has the capacity to process 7,000 transactions per second.

Who are the Competitors of Polygon?

One issue with Polygon has been growing competition. Several new players are coming up and several new players already exist. Here are some competitors to the Polygon network:

• Solana Labs
• SKALE Labs
• Immutable
• Dragonchain
• Forte Labs

Note: Please consult a registered investment advisor to guide you on your financial decisions.