Matic Network – Project Updates #13

13 min read

For insights into Matic’s progress on our mission to scale the global blockchain ecosystem, we invite you to read our Project Updates covering all areas of our activities over the past month.

We’ve launched staking on Matic Network, enabled deposits and withdrawals on the Matic mainnet, launched our large-scale developer initiatives for mainnet adoption, been listed on a new exchange, hosted and supported a wide range of industry events, and much more.


Major Highlights

Staking for Matic Network Mainnet is Now LIVE! Stake Your MATIC to Start Earning Rewards!

June 29: MATIC holders can now delegate their tokens to validator nodes on the Matic mainnet and receive staking rewards for helping to secure the network.

The delegation process is simple: head to the Staking Dashboard, connect your wallet, choose the Ethereum network, delegate to a validator and start earning. Staking rewards are received regularly, at every checkpoint.

Delegation Instructions guide: https://buff.ly/3eJUOeH

Staking Dashboard link: https://wallet.matic.network/staking/

Staking UI & Delegation support chatroom: https://t.me/maticwalletweb

Note: Following our mainnet rollout strategy, you can currently only delegate to Matic Foundation nodes (zero commission).


Deposits and Withdrawals on the Matic Network Mainnet are Now Enabled!

June 20: Using the Matic Web Wallet, you can deposit MATIC and ETH to the Matic Network mainnet from Ethereum and make near-instant transactions to other wallets for a small fraction of the cost of the gas fees on Ethereum.

We’ve released a step-by-step walkthrough guide, complete with tutorial videos, to take you through the process.

The guide will teach you:
• How to log in to the Matic Web Wallet
• How to deposit funds from Ethereum to the Matic mainnet
• How to transfer funds on the Matic mainnet
• How to withdraw funds from Matic Network to Ethereum

Full guide: https://buff.ly/37RZQDp

In case you have any queries, please leave a message in the dedicated Telegram group here: https://t.me/maticwalletweb

Experience the power of Matic Network today ⚡️


Launching our Large Scale Developer Initiatives for Mainnet Adoption

July 8: Now that the Matic mainnet is live and is progressively moving towards decentralization, we are launching large scale initiatives for developer adoption.

These include:
• DApp deployments on mainnet
• Build-n-Earn program on Gitcoin (launching soon)
• Gitcoin hackathons
• Devfolio monthlong hackathons
• Devfolio college hackathons
• HackerOne Bug Bounty
• Accelerators & Incubators like T-Block
• Developer Support Program

Full details: https://bit.ly/3e8PiRR

The mainnet launch signals the beginning of the next exciting chapter for Matic Network, and things are heating up on all fronts.

We’re currently preparing to launch our biggest developer-focused initiative yet. There will be an update on that this week, stay tuned!


Ecosystem & Integration

Blockchain Cuties Released a Blockchain Gaming 101 Guide in Preparation for Launching on Matic!

June 16: Collectible NFT creature game Blockchain Cuties will be integrating Matic Network as their fifth blockchain due to our in-game transaction mechanisms, which will provide a more seamless user experience and allow developers to introduce more sophisticated game mechanics.

They’ve released a guide giving an overview of blockchain gaming, how to get started playing Blockchain Cuties, the advantages of onboarding to Matic Network, market trends, and much more.

“We can’t wait to welcome Matic’s community and make this launch the most important event of Summer 2020.”

Blockchain Cuties team

Read more: https://medium.com/blockchain-cuties/what-gaming-on-matic-will-be-like-671d56fcab72

We’re excited to welcome Blockchain Cuties to Matic and push blockchain gaming a step closer to mass adoption!


Ethernal Alpha 2.0 is Now Live on the Matic Testnet!

June 16: It was revealed during our recent Dapp Week that fully on-chain multiplayer dungeon explorer game Ethernal was onboarding to Matic Network. Now being powered by Matic, the Ethernal team is able to provide a supremely intuitive and smooth player experience, with more feature-rich gameplay.

Ethernal has now released the second version of their Alpha, running on the Matic testnet, which is packed with updates, new features, and a superior UX.

Ethernal Alpha 2.0 includes a new map & navigation, character classes, new combat features, and an updated player interface for web and mobile. Their in-game NFT economy is also becoming increasingly complex, with the ability to now trade and transfer items.

Click here for more details about their new Alpha and to find out how you can become an Ethernal Alpha tester: https://buff.ly/2YH1VxE


Neon District, One of the Most Highly Anticipated Blockchain Games, is Onboarding to Matic!

July 7: Neon District is a cyberpunk adventure RPG and the flagship of the leading blockchain game development studio, Blockade Games. Players strategize and fight to progress through a sci-fi dystopia while collecting NFT items.

Blockade Games has decided to onboard Neon District to Matic Network in order to power their game with the performance required to achieve the mainstream adoption aimed for. Neon District will run entirely on Matic, including its in-game NFT system.

In addition, as Blockade Games’ recommended platform partner, we will provide the infrastructure for Blockade Games community developers to build high-performance blockchain games.

We share the common goal of creating an experience which will bring blockchain gaming to the mainstream. Together, we will #BUIDL the future of mainstream-level blockchain gaming.

Read More: https://t.co/1DOdalj3M9


Staking Updates

We Conducted a Live Staking Tutorial with the Matic Community

June 26: In preparation for staking on Matic Network which went live on June 29th, our Co-founder & COO, Sandeep Nailwal, and Product Manager, Delroy Bosco, connected with the Matic community for a live video tutorial covering how to delegate tokens for staking on Matic Network.

Sandeep and Delroy were happy to be there to answer the many questions the community had regarding staking and delegation.


Hardware Wallet & Coinbase Wallet Support Added for Staking

June 30: You can now delegate your MATIC tokens for staking via hardware wallets and Coinbase Wallet. We’re continuously working on ways to make the staking process as seamless and user friendly for the community as possible.


Matic Network Staking 4-Day Summary: Off to a Flying Start

July 3: In the 4-day period since our staking launch on June 29th up until July 3rd, we saw a huge influx of MATIC holders delegating their tokens to take advantage of the high staking rewards APR.

• 14.7% of the MATIC circulating supply locked
• 464m MATIC tokens staked (~$9.1m)
• 13.4m MATIC tokens distributed as rewards (~$260k)
• Current rewards APR more than 67%

The amount of tokens staked continues to increase.

If you’re a MATIC holder and you still aren’t staking, what are you waiting for?! You won’t find a comparable APR anywhere else 💪

Learn how to delegate here: https://buff.ly/3eJUOeH


Matic Staking Unbonding Period Has Been Reduced to 8-10 days!

July 6: Whereas the unbonding period for staked MATIC tokens was previously at 888 checkpoints (18-21 days), we have now reduced this period by more than half, to 424 checkpoints (8-10 days).

This means that delegators who would like to withdraw their staked MATIC tokens from the Staking Dashboard now have to wait only 8-10 days before their tokens will be released from the staking contract back into their wallet.

We also have a dedicated support group on Telegram for any Staking Dashboard questions https://t.me/maticwalletweb

If you’re not staking your MATIC already, learn how to do so here: https://buff.ly/3eJUOeH


Staking Update: APR Still More Than 57%

On July 10 we released our most recent staking update:

🔒17.2% of the MATIC circulating supply locked
📈 543m MATIC tokens staked (~$10.9m)
🎁19.8m MATIC tokens distributed as rewards (~$400k)
👥 Over 1000 $MATIC holders staking

We will also extend staking support to exchanges during the upcoming Step 3 of our mainnet rollout strategy.

In the meantime, staking via the Staking Dashboard is super easy! Follow the simple instructions here and start earning the high APR today: https://buff.ly/3eJUOeH

As of the day of publishing this Project Update, July 15th, the APR is still over 53%!

The quicker you begin staking, the higher your realized APR. Don’t delay!


Education

Learn how to Enable Gasless DApp Transactions Using Matic + Biconomy!

June 16: Sameep Singhania, Founder of India-based blockchain development and consulting company Ginete Technologies, has released an in-depth guide on how to enable gasless transactions in a DApp deployed on Matic using Biconomy.

Biconomy enables meta transactions to negate the need for gas fees. DApp users can therefore transfer assets/tokens back and forth without having to pay any fees, making DApp usage as seamless as traditional applications.

Ginete’s article guides developers through the whole process:

  1. Setting up the development environment
  2. Developing the smart contract
  3. Deploying the smart contract to Matic
  4. Registering contracts to Biconomy
  5. Developing the front-end with gasless transactions

Full guide: https://bit.ly/GaslessTransfers

Start developing seamless DApps with Matic + Biconomy today!


Sandeep Delivered a Blockchain Product Workshop for T-block Accelerator

June 17: We recently announced that we’ve joined the T-block Accelerator program, organized by Tech Mahindra and the Telangana government, to help provide promising Indian startups with the support and tools required to flourish and thrive.

Our COO & Co-founder, Sandeep Nailwal, recently delivered a workshop to educate developers about product development on blockchains, as a precursor to the training module that will appear in T-block Accelerator’s Bootcamp.

Sandeep discussed the importance of identifying a solid blockchain use case, and how Matic Network can help these ideas come to fruition.

Topics included:
• Mapping out a blockchain use case
• Building your solution on Matic Network
• Walkthrough of Matic Network and its features


We were Excited to Host Andrei Anisimov from Coinbase for our Masterclass on ‘Coinbase Pro Oracle’

June 19: For the debut of our oracle-focused Masterclass series, Andrei Anisimov, Senior Software Engineer at Coinbase, joined us for a live webinar on the topic of ‘Coinbase Price Oracle’.

With close to $1B in assets pooled in DeFi protocols and applications, many of which rely on trusted price feeds, oracles are critical to the rapidly expanding DeFi ecosystem.

As part of their mission to grow the cryptoeconomy, Coinbase has recently launched their own oracle service. Andrei delivered a hands-on workshop demonstrating how Coinbase Oracle works.

Provided by one of the most trusted and secure institutions in the industry, Coinbase Oracle is poised to add huge value to the DeFi revolution.


‘Planning the Best Crypto Portfolios’ Blockchain eWeekend Webinar, Powered by Matic!

June 19: On the panel for the webinar was Sachin Jain of Amesten Asset, Mohak Agarwal of WolfEdge Capital, and Steven Enamakel of Matic ecosystem project CryptoControl. The panellists discussed ‘Planning the Best Crypto Portfolios’.

With new investment opportunities continuously appearing, the crypto landscape can be daunting for traditional investors. This webinar aimed to simplify crypto and provide tips for established crypto investors and those new to the space.

Talking points included:
• What does it mean to have a ‘good’ investment portfolio?
• Useful portfolio management tools
• Identifying good crypto investment opportunities
• Risk management advice

Those who joined us were able to get way ahead of the curve with ther portfolio management!


Matic Masterclass on ‘Crypto and Developing Nations’, Delivered by Nick Fett of Tellor

June 25: Nick Fett, CTO of Ethereum-based decentralized oracle solution Tellor, joined us to discuss impactful use cases of blockchain and crypto in developing nations.

Blockchain and crypto have many more use cases other than banking the unbanked and providing hedges from inflation. The emerging technology can also help to assist people in developing nations to overcome hurdles to prosperity.

Talking points included:
• Circumventing labor laws
• Why DAOs are better than corporations
• How imaginative local currencies can kick-start economies
• Privacy and true ownership to avoid corruption


Blockchain eWeekend Webinar, ‘Bringing Real-World Assets onto Blockchain’, Powered by Matic!

June 26: On the panel for the Blockchain eWeekend webinar on ‘Bringing Real-World Assets onto Blockchain’ was Tarusha Mittal, Co-founder & COO of Matic ecosystem project OroPocket, and Tushar Aggarwal, Co-founder & CEO of Persistence.

Traditional financial assets companies such as J.P. Morgan, Fidelity Investments, and others, have not only been researching but also creating POCs to move into asset-based tokenization.

Blockchain not only enables unparalleled liquidity and secure and quick transactions, but also enables fractional ownership and allows asset trading without third-party brokers, providing security and immutability of asset transactions on a global scale.

It was a pleasure for Matic to facilitate helping our community to learn more about one of the most important emerging use cases of blockchain!


‘From Ideation to IEO’ Blockchain eWeekend Webinar with Sandeep Nailwal

July 4: Our Co-Founder & COO, Sandeep Nailwal, and Evangelist Investor Ajeet Khurana, shared their insights on the blockchain startup journey in a webinar entitled ‘From Ideation to IEO’.

Whilst we all want to see the blockchain industry grow and thrive, the space can be daunting for innovators with great ideas but little experience of the industry.

Sandeep and Ajeet discussed how companies & developers can take their blockchain project from its ideation phase through to the funding stage via an initial exchange offering.


Exhange Listings

MATIC is Now Listed on Popular Crypto Exchange ZebPay!

June 16: ZebPay is a well known cryptocurrency exchange with a huge following in India. They provide trading services for 162 countries and have been operating since 2014, serving over 3 million users across the globe.

Trading for MATIC went live on June 17th. ZebPay users can now trade MATIC via the MATIC/INR pairing.

Happy trading!


Binance.US Has Enabled Recurring Buys for MATIC!

June 24: Binance.US users are now able to set up recurring buys for MATIC!

Users can set recurring buys weekly, bi-weekly, or monthly in which they are able to obtain MATIC via ACH, debit card, & USD balance purchases at current market prices. The trade will execute immediately when scheduled.

Learn more about recurring buys here: https://buff.ly/2Z2WFF2

We’re thrilled to be getting more user features on Binance US! This is another way that Matic is becoming more integrated into the Binance US community.


CoinDCX Has Now Enabled Deposits and Withdrawals for MATIC

July 1: CoinDCX is a leading Indian exchange with a large following of over 27,000+ monthly active traders, offering a range of trading features such as spot, margin, & futures trading, in addition to lending for their growing user base.

MATIC is currently listed on CoinDCX via MATIC/BTC, MATIC/USDT, MATIC/BNB pairings.

Deposits and withdrawals of MATIC have now been enabled for CoinDCX users. You can now deposit MATIC for trading, and withdraw to hold in your personal wallet or take part in Matic Network staking to earn staking rewards.

Trade MATIC on CoinDCX here: https://coindcx.com/trade/MATICBTC


MATIC Deposits and Withdrawals Now Enabled on WazirX Exchange!

July 2: WazirX is one of the largest Indian cryptocurrency exchange boasting over 400,000+ active users with instant INR deposit and withdrawal options. WazirX also supports over 80+ different types of cryptocurrencies with over 100+ trading pairs.

MATIC is currently listed on WazirX via MATIC/BTC, MATIC/USDT, MATIC/INR pairings.

On the request of the Indian community for Matic staking, deposits and withdrawals of MATIC have now been enabled for WazirX users. You can now deposit MATIC for trading, withdraw to hold in your personal wallet, or take part in Matic Network staking to earn staking rewards.

Trade MATIC on WazirX here: https://wazirx.com/exchange/MATIC-BTC


Non-Custodial Exchange Aggregator Swapzone has Added Support for MATIC!

July 4: Swapzone users can now seamlessly browse and compare MATIC exchange rates on a range of instant swap exchanges, such as ChangeNOW, and exchange directly from the Swapzone website – all in a non-custodial manner and without the need for registration.

Swap your crypto for MATIC on Swapzone here: swapzone.io/?to=matic


Hackathons

Encouraging Blockchain Innovation at the Code2Create hackathon

June 21: We were proud to recently support the Code2Create BUIDLers at Vellore Institute of Technology, India! The 36-hour hackathon was attended by some of India’s most talented young developers seeking to build innovative solutions for tomorrow’s world.

Speakers provided insights to the attendees before the hackers began building solutions within a range of interesting tracks – including Social Transformation, Disaster Mitigation, FinTech, and, of course, Blockchain.

We assisted the devs to create their hacks, and provided bounties to incentivize the development of advanced decentralized solutions utilizing Matic Network.

It was encouraging to see so many hackers try their hands at blockchain development using Matic. India’s decentralized future is bright indeed!


Interviews, AMAs, Community Outreach

We Teamed Up with Sapien for a Joint AMA Livestream to Kick-Start Matic’s New Tribe on the Sapien Platform!

June 20: Joining the AMA was Matic’s COO, Sandeep Nailwal, & Sapien’s CEO, Ankit Bhatia, who answered all your burning questions about Matic, Sapien, Ethereum, DApps, blockchains, crypto, social media, decentralized finance (DeFi) and more!

Join Matic’s tribe on Sapien here: https://www.sapien.network/t/maticnetwork/


Sandeep Nailwal Joined the Binance US Community for an AMA

June 24: Our Co-Founder & COO, Sandeep Nailwal, made a special appearance in the Binance US Telegram group to answer any questions the community had about the recent Matic Network mainnet launch, upcoming staking, and much more!

Binance.com has partnered with BAM Trading Services to bring cryptocurrency trading services to the United States via Binance.US. Binance US currently has over 70+ trading pairs including MATIC/USD & MATIC/BUSD.

We were thrilled to connect with the Binance US community!


AMA with the Trust Wallet Community Featuring our VP of Marketing, Chandresh Aharwar

July 4: Our VP of Marketing & Strategy, Chandresh Aharwar, joined the Trust Wallet Telegram group to answer any questions the community has about the recent Matic Network staking launch, DApps migrating over to Matic, and much more!

Trust wallet currently has over 1 million users and is also available in all mobile play stores. They also offer their mobile users with a suite of tools such as token swaps, buying cryptocurrencies, staking, and much more!

It was a pleasure to connect with the Trust Wallet community!


Industry Events

Sandeep Nailwal Presented at the 2020 Digital Games Conference

June 26: Our Co-founder & COO Sandeep Nailwal, presented at the 2020 Digital Games Conference showcasing how Layer 2 will power the future of blockchain Gaming.

Sandeep explained how Matic’s Layer 2 sidechains offer games and users a “real-time gaming experience as good as you see in traditional world with blazing fast transaction speeds but at 1/1000th the normal cost of using the main Ethereum blockchain”, while still maintaining the security and decentralization.

Sandeep explained the potential of Layer 2 blockchain gaming for the user, including that micropayments are now possible. and permanent ownership of assets that cannot be taken away if a gamer is banned.

The entire presentation includes a list of over 20 games already built on Matic Network, plus Sandeep’s list of reasons “Why Developers Love Matic”.

Check out this great full presentation given by Sandeep at DCG Live! https://bit.ly/DGCMatic


Providing Insights at the Namma Blockchain Developer Meetup

June 28: We supported Namma Blockchain’s Developer Virtual Meetup to encourage the spread of blockchain education. The meetup was a developer focused session on topics like Lighting Network, IPFS, HyperLedger, Ethereum scalability, and much more!

Speakers included our Developer Evangelist Angela Gilhotra, Ganesh Kumble – Tech Lead at Aicumen Tech, Kamlesh Nagware – VP of Technology at Snapper Future Tech, and Prashant B – Founder of Lastbit.

The speakers covered:
• How devs can leverage Matic Network to build scalable DApps
• Introduction to IPFS & decentralized storage
• Introduction to Hyperledger
• Introduction to Lightning Network


Tominoya x Matic Live VR Meetup, Powered by Matic Network and in Association with Decentral Games!

July 8: With the emergence of COVID, industry events have shifted to an online format. However, we wanted to host a meetup beyond the typical livestream. We therefore teamed up with Decentral Games to host a gaming-focused live event directly within Tominoya Casino in Decentraland’s VR metaverse!

The event featured some of blockchain’s most prominent gaming personalities, including Miles Anthony – Decentral Games, Shaban Shaame – Spells of Genesis, Jiho – Axie Infinity, Andrew J. – Blockchain Cuties, Ben Heidorn – Neon District, & Emma Liu – Chain Guardians!

Talking points included:
• Seamless Dapp UX
• Blockchainization, the feature that brings high retention
• Multi-blockchain use in Blockchain Games
• Play to Earn Gaming
• The Evolution of Blockchain Gaming
• Blockcade Games and Matic

Pannel discussions:
• Challenges balancing Investors and Players
• How Play to Earn is Evolving

Thank you to everyone who joined us for this groundbreaking event!


Matic is Entering the quarter finals of Decentraland’s Moonshot Soccer Tournament! ⚽️

July 11: As part of our continued efforts to help to foster the growth of Decentraland, we are sponsoring the Moonshot Soccer Tournament, taking place within the Decentraland metaverse. 24 teams are battling it out in the 5 vs 5 tournament.

Matic has won in the group stages and will now proceed to the quarter finals!

ℹ️ Event details: https://buff.ly/38KPDsW


Community Updates

It was a Pleasure to Announce Drdent as our MVCM for the Month of June!

July 3: Drdent has been a valuable member of the Matic community for the past year, with a significant acceleration of his participation the past few months. He’s hit the ground running after joining our exclusive Matic Mitra community.

In his short time as a Matic Mitra, drdent has connected the Matic team with developers, created forum discussions, designed content that’s been shared on Twitter, has offered guidance to community members, and much more.

Check out drdent’s amazing work:
https://buff.ly/2NPQDCn
https://buff.ly/2O3coyV
https://buff.ly/38tW2bN

The strength of our community never ceases to amaze us. We’re keeping our eyes out for the next MVCM and Guard of Honor!


Thank You to our Amazing Community for Creating this Video Showcasing Some of the Major DApps Onboarding to Matic!

July 10: We have over 60+ DApps onboarding to our mainnet, beginning this month. Examples include:

💣 Neon District – cyberpunk trading card game
🌎 Decentraland – decentralized VR world
🐱 Blockchain Cuties – NFT Collectibles
🔗 Chain Guardians – anime-style NFT game

These are just a select few of the awesome DApps in our rapidly growing ecosystem.


Matic Team Updates

Announcing our Newest Addition to the Matic Network Team: Hridam Basu – Blockchain Researcher!

July 9: Hridam has recently joined the Matic Network team as part of our latest expansion round. As Blockchain Researcher, he will be playing a major role in helping us to research and analyze trends within Matic.

Hridam has gained extensive experience in Cryptography and Blockchain research during his career working with major companies including NJIT & AT&T Labs. Hridam is also pursuing PhD from New Jersey Institute of Technology.

Some of his previous blockchain experiences include:
• Ring Confidential Transaction on Monero
• Utilizing zk-SNARKS for Efficient Computation on blockchains
• Privacy of crowd-shared data
• Securing multiparty computations
• Other Applications of Cutting-Edge Cryptography & much more!

It’s our pleasure to welcome Mr. Hridam Basu into the Matic team.


Thank you for reading. To keep up-to-date with our upcoming announcements please follow us on our Blog, Twitter and Telegram announcement channel