Polygon (MATIC) Polygon is an Ethereum scaling solution desig | Crypto Great | Bitcoin | DeFi

Polygon (MATIC)

Polygon is an Ethereum scaling solution designed to increase transaction speeds while minimizing transaction costs.

On March 7, the Polygon team announced that DraftKings, a popular American sports betting and media company, will be the first corporate node operator and validator in the Polygon Network.

This marks the first time a publicly-traded company has taken an active role in blockchain governance, which is an important adoption milestone for the blockchain industry. With this collaboration, DraftKings is optimizing its liquidity through staking rewards as it operates a validator node that contributes to Polygon’s governance and network security. This means DraftKings is generating a revenue stream that can influence the future of Web3 development on Polygon. The more development there is, the more usage can occur on the Polygon platform, thus increasing the price of MATIC tokens in due time.

Additionally, according to Paul Liberman, co-founder at DraftKings, gaining exposure to staking technology supports DraftKings’ broader strategy of building a sustainable, decentralized infrastructure to help futureproof aspects of its business in Web3.

DraftKings will take its place among existing validators as an equal community member, solidifying Polygon’s desire to achieve a decentralized, community-run consensus network. In other news MATIC has now been listed on Robinhood, a popular stock trading app with 22.5 million users. This brings more eyes and awareness onto Polygon which may lead to more demand for MATIC tokens. Most importantly, this may lead to a bigger trend of traditional stock brokerage firms, such as Charles Schawb, adopting crypto. These moves have the potential to bring a huge influx of new users into crypto.

As we mentioned last month, Polygon is experiencing a surge in mainstream adoption. And now with the addition of one of the biggest sports betting tech companies in America, Polygon continues to show us healthy signs of long-term success, which gives us conviction to keep holding MATIC tokens for higher prices.