How much is the circulation of Polygon(MATIC) currency?

As of an unspecified date, the circulating supply of Polygon's (MATIC) cryptocurrency was approximately 8.8 billion.

Dec 07, 2024 at 07:11 am

How much is the circulation of Polygon(MATIC) currency?

Polygon (MATIC) is a cryptocurrency that powers the Polygon network, a layer-2 scaling solution for Ethereum. The Polygon network is designed to improve the scalability and transaction speed of Ethereum by providing a separate blockchain that runs parallel to the Ethereum mainnet. MATIC is used to pay for transaction fees on the Polygon network and to reward validators who participate in the network's proof-of-stake consensus mechanism.

As of [date], the circulating supply of MATIC is 8.8 billion. This represents approximately 73% of the total supply of MATIC, which is capped at 12 billion. The remaining 27% of MATIC is held by the Polygon team and other early investors.

The circulating supply of MATIC has been steadily increasing since the launch of the Polygon network in 2017. This is due to the fact that new MATIC is constantly being minted to reward validators and to pay for transaction fees.

The circulating supply of MATIC is expected to continue to increase in the future as the Polygon network grows in popularity. This is because more and more users will be using the Polygon network to transact, which will lead to an increase in the demand for MATIC.

The circulating supply of MATIC is an important metric to track because it can impact the price of MATIC. A higher circulating supply can lead to a lower price for MATIC, while a lower circulating supply can lead to a higher price for MATIC.