Matic Network – Project Updates #6

9 min read

Project Updates as of September 24th, 2019

To gain a better understanding of Matic’s role in fulfilling its mission to develop the global blockchain ecosystem, we invite you to read this month’s Project Updates.

We’ve never been more excited for what the future holds.

-The Matic Network team

Major Highlight: Mainnet Staking

On September 18th, Matic Network launched its Staking Economics details for community members interested in Mainnet Staking. The document detailed:

Matic’s account-based variant of More Viable Plasma guarantees the security of assets on the main-chain and ensures the security of generic transactions by using a decentralized network of Proof-of-Stake validators, built on top of Tendermint. The system is designed to enable quicker (~1 sec) partial confirmations for better user experience while the final confirmation is attained once the checkpoint is committed on the main-chain. 

Validators stake their MATIC tokens as collateral to work for the security of the network and in exchange for their service, earn rewards. 

Integrations & Partnerships:

Adoption is one of our core priorities. Our goal is to serve as more than simply a scaling solution, but as an entire collaborative ecosystem of developers and dapps running on Matic Network which will become stronger together as the ecosystem expands.

Decentraland Builds First-Ever Virtual Casino on Matic Network

On September 4th, Decentraland opened their first virtual casino in their universe, Chateau Satoshi, powered by Matic Network. The casino, built by blockchain-based gambling games company, Decentral Games, allows users to enjoy casino gameplay. The gameplay is facilitated by Matic Network’s sidechains to ensure instant transactions and throughput that result in streamlined user experience.

Matic Partners with Constant for Secure P2P Loans

On September 9th, Matic Network also announced another partnership with Constant, a platform on the cutting-edge of DeFi. Constant enables users to secure loans at favorable rates by leveraging their crypto asset holdings as collateral. Through the collaboration, MATIC tokens can now be used as collateral without the need for credit checks or paperwork. This partnership further cements Matic Network’s role in establishing itself as a driver of decentralized finance (DeFi).

Matic Joins BEPSwap as a Launch Partner

On August 19th, THORChain chose Matic Network to become a Launch Partner for its BEPSwap platform. As a BEPSwap Launch Partner, Matic will be one of the first pools on the platform. Having attained “BASE PAIR” status, Matic will allow BEPSwap token holders to swap in and out of MATIC to any other token and view token prices pegged to $MATIC. Through this partnership, $MATIC token holders will also be able to stake their $MATIC tokens to earn on-trade commissions daily!

BEPSwap is the first go-to-market platform for the THORChain protocol meaning any BNB or BEP-2 holders are capable of swapping BEP-2 tokens instantly from their wallet. 

Binance Margin Trading Platform Adds Matic

On September 24th, Matic Network announced that Binance would adding $MATIC onto its Margin Trading platform. Users now have the ability to margin trade $MATIC through $MATIC/BTC & $MATIC/USDT pairs. More information can be read on Binance’s official support article here.

Matic Network Partners with Korea-based Layer-2 Solution, Tokamak Network

On September 6th, Matic Network announced that it would be partnering with Tokamak’s privacy-focused solution. This partnership will provide an enhanced layer of privacy for enterprise solutions building on top of Matic network, and Tokamak will receive insights into scaling research to further network capabilities.

Nestree Announces Migration onto Matic Network

Using Matic Network’s Layer-2 solution, Nestree will be able to scale their blockchain-integrated rewards messaging applications to new levels, providing their growing user base with low-cost, near-instant transactions. Nestree’s messaging app provides one of the most optimal gateways for end-users unfamiliar with the cryptocurrency space. Nestree’s on a mission to accelerate the mainstream adoption of blockchain in South Korea, and Matic will be playing a key role in supporting that mission. 

Prometeus Utilizes Matic Network to Achieve Scale for Payments

In order to best facilitate a high volume of transactions at rapid speeds and low cost, Prometeus decided to move forward with migrating onto Matic Network’s MoreVP version of the original Plasma framework. Prometeus provides a mechanism that will prevent individuals from accessing valuable data in their ecosystem, and has a long list of clients that utilize its data brokerage system. The list includes Reebok, Whole Foods, Nielson, Sony Music, & Viacom. 

Matic Network Lists with Coinone, Launches Pre-Staking Initiative

On September 4th, Matic Network announced its entrance into the Korean market by partnering and listing with Coinone. Hailed by many as the “Coinbase of Korea,” Matic Network partnered with Coinone in particular because of its regulatory-compliant relationship with the Korean government, as well as its CertiK-audited protocols. Korea, in particular, is a thriving hub of blockchain innovation and home to one of the world’s largest and most-rapidly growing crypto communities.

The Matic Community Pledges $1.6 million to CERE Private Sale

On September 24th, Matic Network made light to the fact that the Matic Network community pledged over $1.6 million in the CERE private sale, 16x the subscribed fundraising amount of $100,000. Cere will be reviewing applications and will reach out to participants to finalize the sale. More information about the pledging process can be found here.

As a community engagement effort, Cere Network also worked in tandem with Matic Network to give away $250 worth of tokens to community members. To participate, click here.


The real challenges to blockchain adoption are barriers to entry in terms of education regarding blockchain development and challenges in gaining recognition in the fledgling space.

Matic intends to play a key role in the spearheading of decentralized movement.
Below is the list of Hackathons Matic team has supported:

Matic Network Lands in Germany for Berlin Blockchain Week

On August 20th, the Matic Network team landed in Germany for ETHBerlinZwei. Throughout a series of events, the Matic Network team had the opportunity to engage with Ethereum developers from all over the world. During Berlin Blockchain Week, the Matic Network team held a live stream on Reddit to track the team as it made its way throughout Berlin. 

Throughout the week, the Matic Network team hosted a booth at DappCon to engage with developers who had questions about Layer-2 solutions. In the evening hours of the conference, much of Matic’s executive team spoke on panels hosted by GeoProtocol, Binance X, Blockchain Game Alliance, Consensys Labs & Cherry Ventures. 

Matic Network supports Ethereal Blocks Summit

On August 16th, the Matic team went on live stream for the launch of the virtual hackathon on Gitcoin for Ethereal Tel Aviv.

The Livestream was hosted on Gitcoin, one of the world’s leading open-sourced communities and code repositories for developers.

Shortly, after the Ethereal Summit Tel Aviv 2019, Gitcoin & Ethearal launched the Ethereal Blocks Hackathon.

Matic Network offered a wide range of bounties at the event, including:

  1. Enable a set of decentralized protocols onto Matic Network
  2. Building a Mobile app for remittances
  3. Building a Cocos 2D SDK equivalent of Matic.js
  4. Building a Unity SDK equivalent of Matic.js

Matic Announces Winners of Ethereal Blocks Hackathon

During the week of September 21st, Matic Network announced the winners of the Ethereal Summit Tel Aviv 2019. Matic held bounty prizes, totaling over $7,000 USD. The winning entrants of each bounty prize comprised of projects who enabled a set of decentralized protocols on Matic, & building a mobile app for remittances.

Preparing for the Game Oasis Hackathon in Bangalore

With the aim of accelerating the decentralized gaming movement, Game Oasis Hackathon is a global gaming hackathon co-hosted by Binance Labs, Matic Network, Cocos-BCX, Celer Network, Marlin Protocol, and Ankr Network. The hackathon will take place in 4 cities; Shanghai, Seoul, San Francisco, and Bengaluru.

Matic network would be managing Bangalore Hackathon in partnership with other prominent projects. The 2-day event will begin on October 5th at 11AM (IST) and ends at 5PM (IST) on October 6th.

Matic Network Participates in Hack to the Moon Hackathon in Prague

On September 10th, Matic Network announced that it would be participating alongside Binance, Oasis Labs, & TOP Network at the Hack to the Moon Hackathon in Prague. Scheduled from September 28th to 29th, the two-day event will provide prizes (equivalent to 12,000 Euros). The Matic team will mentor the attendees as they utilize Matic Network’s Layer-2 scalability framework.

Matic Network Announces Visit to MNNIT Allahabad, Prayagraj, India, for Webster Hackathon

On September 16th, the Matic Network team announced ongoing efforts to introduce mainstream developers to blockchain technology, via the Webster Hackathon at MNNIT Allahabad, India. Webster is a web development event organized to introduce students of the MNNIT Allahabad Institute to develop tools & resources.

Proud Supporters of IITD Institute in Delhi, India

On September 18th, the HackIIITD Hackathon at the IIITD institute in Delhi, India launched as an overnight software hackathon for undergraduate developers & hobbyists. The Matic team attended to promote career opportunities in the blockchain development space. The talent was astounding to say the least. Huge congratulations to Anshuman, Zubin, Shreyas, & Tunap for rinning our Rs20,000 prize.

Matic Network Rewards Team Vercious Codefest Haxplore

On September 19th, Matic Network announced that it would be supporting Codefest Haxplore at the Indian Institute of Technology (IIT) Beneras Hindu University. During the event, attendees battled it out for Matic’s first-place bounty; Team Veracious come out victorious by creating a decentralized journalism platform. For more information on the hack, click here.

Supporting the First-Ever HackInIt Hackathon

On September 20th, Matic also made news of its support at the first-ever HackInIt hackathon. The event, which took pace at Baghwan Parshuram Institute of Technology (BPIT), New Delhi, was a 24-hour coding sprint which centered around tech-oriented designing, building and creating. Attendees left the conference with some awesome Matic swag!

Community Updates


Matic Network Stop by Jakarta, Indonesia

On September 12th, Matic Network broadcasted its efforts in Jakarta, Indonesia, as the Matic team made its way to attend a Super Meetup co-hosted by Binance. The event, which took place during Empowering Blockchain Summit, was a forum for discussion of the up-and-coming Indonesian Crypto Space.

Matic Network also co-hosted a meetup with Harmony Protocol, as Matic’s VP of Operations & Marketing, Chandresh Aharwar, joined Harmony’s Head of Marketing, Garlam Won. Both projects provided insights on their latest technical developments, roadmap progress, and wider updates.

Matic Network Visits Tel Aviv

On September 14th, Matic Network announced that it would be visiting Tel Aviv, Israel for the Ethereal Summit Tel Aviv 2019. To support the Tel Aviv Blockchain Week, Matic Network COO & Co-Founder delivered a workshop on “Building Scalable Dapps on Ethereum using Matic.” He was also a panelist alongside others as they spoke on the “Differences Between Private Funding and IEOs for Web3 Entrepreneurs.”

Matic Mitra Rewards

After careful planning & deliberation, the Matic Network core team unveiled its Matic Mitra rewards program on September 21st. The core Matic team will be looking for individuals all over the world to evangelize Matic Network’s Layer-2 scalability framework. To read more about the rewards program, click here.

To apply to become a Matic Mitra, please fill out the application form below. Candidates chosen to be the first round of Mitras will be personally reached out to through their provided contact information. Best of luck!

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Interviews & AMAs: 

Matic COO Sandeep Nailwal hops onto an AMA with Binance Korea

On Wednesday, August 28th at 5:00 PM IST, Matic Network COO, Sandeep Nailwal hopped onto an AMA with the Binance Korean Telegram. Korea is a bustling hub of blockchain innovation with one of the most forward-thinking governments to help facilitate the growth of the ecosystem. Matic launched a $300 $MATIC giveaway for active participation in the AMA. 

Panama Crypto Hosts Q&A for Matic Network

On August 19th, Panama Crypto hosted a Q&A session on its platform by interviewing Matic Network’s Co-Founder & COO, Sandeep Nailwal, and VP of Marketing & Strategy, Chandresh Aharwar. The Q&A shed light on Matic Network’s core mission, and its unique value proposition when compared to other solutions in the scaling arena. 

Matic COO Sandeep Engages with the Binance Filipino Telegram Channel

The Philippines is home to a growing cryptocurrency and blockchain community, thanks to an increasingly crypto-friendly legislation. On August 30th, Matic Network COO and Co-Founder Sandeep Nailwal engaged with the Filipino community to speak more about Matic’s mission of scaling decentralized applications on its Layer-2 framework. $300 in $MATIC tokens were up for grabs for community members with the best questions. 

Matic & Cere Network Co-Host an AMA

On August 22nd, at 3:00 PM IST, Matic Network joined Cere Network to invite both projects’ communities to ask questions about team member backgrounds, project missions, and their partnership within the blockchain space. This AMA followed an announcement made by Matic Network on August 10th. From that announcement, it was detailed that Cere Network would use the Matic side chain to create the first accelerated enterprise solution for customers. 

Live AMA #38 on Coin98, with Sandeep & Chandresh

On September 5th, Matic Network COO Sandeep Nailwal and VP of Marketing & Strategy, Chandresh Aharwar, spoke with Grace Pham, Representative from Kiwi Group. Coin 98 is a cryptocurrency research group, based in Vietnam, that provides insights and analytics for an audience of 10,000+ crypto enthusiasts.

Sandeep Sits Down with HashTalk Podcast

On September 7th, Matic Network COO Sandeep Nailwal sat down with HashTalk Podcast to speak about Matic Network’s value proposition as a Layer-2 solution as well as the current state of affairs within the blockchain space. He also dove deep into Matic’s background, and elaborated deeply on the technological advantages for decentralized applications building on top of Layer-2 solutions.

Matic Network Joins MoNoico AMA

On September 11th, COO & Co-Founder Sandeep Nailwal joined the MoNoico Telegram community for an AMA session. A total of $200 USDT was rewarded equally amongst 20 community members with insightful questions.

Matic Network Chats with Crypto Koala

On September 13th, Matic Network COO & Co-Founder Sandeep Nailwal sat down with Australian-based Youtuber, Crypto Koala to deliver insights on a wide range of topics including partnerships, adoption progress, gaming development & decentralized finance (DeFi).

“Because of the inherent benefits of Matic Network, especially in terms of scalability, speed and very low-cost transactions, we are seeing hugely growing interest in Matic Network.”

Sandeep Nailwal, COO & Co-Founder of Matic Network

Discussing the “Future of Blockchain Technology” with Chico Crypto 

On September 1st, Matic Network joined other executives from Holochain, CreditsCom, & Quark Chain to discuss the future of blockchain technology, and its impact on existing industries within the next several years. Chico Crypto currently has about 55,200 subscribers on Youtube. In the AMA, the panel discussed the current state of development in the blockchain space and their insights on how space could reach maturity. 

Features & Mentions:

Blockfolio Gives Matic Network a Shoutout

On August 30th, 2019, Matic Network was given a shoutout on Blockfolio’s blog about that week’s top projects.

The blog primarily covered Matic Networks partnership with Prometeus, and its data brokerage platform, and how it would leverage Matic Network’s Layer-2 solution to scale up its services for clients such as Viacom, Sony Music, L’Oreal, and Reebok, among many other Fortune 500 companies.

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