Matic Network strives to solve the scalability and usability issues while not compromising on decentralization and leveraging existing developer community and ecosystem. Matic Network is built on the foundation of PLASMA philosophy as an off/side chain scaling solution for existing platforms and provide scalability and superior user experience to Dapps/user functionalities built on top of these platforms.
Key Features & Highlights
- Scalability: Fast, low-cost and secure transactions on Matic sidechains with finality achieved on mainchain and Ethereum as the first compatible Layer 1 basechain.
- High Throughput: Achieved up to 7,000 TPS on a single sidechain on internal testnet; Multiple chains to be added for horizontal scaling.
- User Experience: Smooth UX and developer abstraction from mainchain to Matic chain; native mobile apps and SDK with WalletConnect support.
- Security: Matic chain operators are themselves stakers in the PoS system.
- Public Sidechains: Matic sidechains are public in nature (vs. individual dApp chains), permissionless and capable of supporting multiple protocols.
Token Sale & Economics
- Project website: https://matic.network
- Project whitepaper: https://whitepaper.matic.network/
- Token sale start time: April 24, 2019 15:00:00
- Token sale end time: April 24, 2019 15:00:00
- Ticker: MATIC
- Token type: ERC20 as TGE
- Total hard cap: $5,600,000
- Total supply: 10,000,000,000 MATIC
- Initial circulating supply: 32.3% of Total
- Public sale token price: 1 MATIC = $0.00263
- Public sale allocation: 19%
- Individual cap: $300 per Ticket
- Private sale token price: 1 MATIC = $0.0026
- Private sale allocation: 1.71%
- Private sale vesting period: 50% unlocked in the first month of TGE, remaining 50% unlocked in the seventh month
- Seed sale token price: 1 MATIC = $0.00079
- Seed sale allocation: 2.09%
- Seed sale vesting period: 50% unlocked in the first month of TGE, remaining 50% unlocked in the seventh month
- Token distribution: Within 15 days after end of token sale
Token Release Schedule
Roadmap & Updates
- Q3 2018:
- Matic testnet released to developers (closed alpha)
- Plasma MVP contracts on testnet
- Full ERC20 support for fast and cheap transfers
- Plasma exits tokenized for fast exits
- Dagger (real-time Ethereum events notifications engine) released
- Dagger integration with Zapier (ERC20 transfers)
- Q4 2018
- Matic mobile app (with Plasma support) - internal release
- Quarters (games platform integrated with Matic testnet)
- WalletConnect support on mobile app (Ethereum & Matic testnet)
- Q1 2019
- ERC721 support on Matic testnet PoS implementation for Staker nodes for sidechain - internal release
- Matic testnet v2 released to developers (closed beta)
- Asset swaps PoC on Matic testnet (for Decentraland marketplace)
- Tokenized staker slots for PoS implementation
- Dagger integration with Zapier (generic contract events)
- Cryptostaw (Burner wallet) integrated with Matic testnet
- Hermione (realtime, scalable Ethereum data processor) - internal release
- Q2 2019
- Matic Network Mainnet release (alpha)
- Allow Deposits and withdrawals of Ethereum-based assets using the Matic Plasma implementation in alpha
- Plasma - Cross-asset swaps between ERC721-ERC20, ERC20-ERC20, ERC721-ERC721) on testnet
- Proof-of-Stake Validator onboarding
- dApps developer program
- Matic Wallet - WalletConnect for dApps (Ethereum & Matic Network transactions)
- Q3 2019
- Matic Network Mainnet release (beta)
- Plasma - Asset swaps (ERC721-ERC20, ERC20-ERC20, ERC721-
ERC721) support on mainnet
- Generic smart contract support (with PoS guarantees)
- Plasma Fast exits implementation on testnet
- Plasma Watcher nodes
- Q4 2019 & Q1 2020
- Matic Network Mainnet release
- Plasma Fast exit services on mainnet
- Transaction relay pool (perform transactions without ETH) - for enabling easy asset/state movement from Ethereum to Matic
- Generic smart contract support (with Plasma guarantees) - Proof-of-Concept
- Plasma - NFT Marketplace platform release for Ethereum assets
Arpit Agarwal - Blockchain engineer - Previously software engineer at Google and Semantics3. IIT-Jodhpur alumnus. Winner at ETH-India and ETH-SF hackathons. MakerDAO prize winner at ETH-Singapore. Twitter, Github, Linkedin.
- Ari Meilich - Project lead at Decentraland - Previously Co-Founder of Benchrise, Inc. Twitter, Linkedin.
Decentraland: a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications using a developer toolkit that works on any platform (all VR headsets and web browsers) and is designed to create virtual environments and applications. Matic is collaborating with Decentraland to scale the transactions that will occur as a result of user interactions within the virtual universe. This will include payments, NFT sales and eventually general game states and other data.
Quarkchain: an innovative permissionless blockchain architecture that aims to provide a secure, decentralized, and scalable blockchain solution. Matic Network and Quarkchain intend to collaborate on L2 scaling research by exploring and developing Plasma sidechain solutions on top of Quarkchain. Matic will also be working with Quarkchain to build notification services like Dagger and Mobile Wallet capabilities for Quarkchain.
Ankr Network: a distributed computing platform that aims to leverage idle computing resources in data centers and edge devices. Matic will collaborate with Ankr to explore building a decentralized web 3 stack in which Ankr can provide Distributed Cloud Computing services for Decentralized Application Development on the Matic Network.
Portis: a technology company that wants to make sure any person in the world can use decentralized applications, just as easily as they use "regular" apps.Matic is working with Portis to help these dApps using Portis achieve scale and an enhanced user experience.
Maker DAO: the organization behind the DAI Stablecoin. Matic Network is partnering with MakerDAO to explore and jointly support teams for the development of dApps which use DAI on Matic Network sidechains. Matic Network intends to integrate DAI as the first ERC-20 token on Matic sidechains.
- Ripio Credit Network: a peer to peer credit network that connects lenders and borrowers located anywhere in the world.Matic is working with Ripio to enable Micro loans on its plasma sidechains. Matic along with RCN is also researching faster plasma exits where exit NFT’s will be used as collateral for loans on the RCN platform.
|Matic - Layer 2||POA - Layer 2||Loom - Layer 2||EOS - Layer 1||Zilliqa - Layer 1|
|Block times conduciveness for Dapp UX||High - 1 second||Low - 5 second||High||High - 0.5 second||Low - 2 minutes|
|Consensus Algorithm Efficiency for Scale and Security||High (3 Layers - POSA+POS+POW)||Low (POA)||Medium (DPOS+POW)||Medium (BFT-DPoS)||Medium(POW+PBFT)|
|Degree of Decentralization||High||Low||High||Low||Medium|
|Interopoerability (Multiple Basechains)||High||Medium||Medium||Low||Low|
|MainChain Security||High (Plasma+Ethereum)||Low||High (Plasma+Ethereum)||Low||Low|
|Fraud Proofs on Basechain||Medium (only Assets)||Low||Medium (only Assets)||Not Required||Not Required|
|Unpermissioned nature of Blockchain||High||Low||Medium||Low||High|
|Feasibility of hosting a DEX||High||Medium||Medium||High||High|
|Ethereum Ecosystem compatibility (EVM/ERC20 Compatibility & Dev Docs)||High||High||Medium||Low||Low|
|Focus on User Experience||High||Low||Medium||Medium||Medium|
|Developer Experience for existing ETH Developers||High||High||Medium||Low||Low|
|Smart Contract Support||High||High||Medium||High||High|
|Ethereum Protocol Support (0x, Kyber, etc)||Medium||Low||Low||Low||Low|
|Ease of migration / Popular Programming Language Support||High||High||Medium||Low||Low|
Skale Labs: Skale plans to run a network of sidechains called S-chains.These chains are run by Validators nodes which contain a number of containers. S-Chains utilize the Skale Parallel Asynchronous Consensus (SPAC), unlike the PoS consensus used by Matic Sidechains. Like Matic network, Skale plans to run its own version of EVM on its sidechains; however, Skale’s goal is to enable separate dAppchains, while Matic is designed to create "public sidechains" that can host any number of dApps.
- Plasma Group: Plasma Group wants to create an Open Plasma implementation that helps people deploy their own instance of an individual Plasma chain. Matic Network on the other hand is focused on building a permissionless, public Layer 2 Plasma based sidechain system where everyone can enjoy easy deployment of apps and smart contracts.