The Flux-Matic tokens will be available on several multi-asset trading wallets that offer non-custodial services with the airdrop already underway since June 19.
The Flux protocol has already inked partnerships with several blockchains to issue parallel assets including on Ethereum, Binance Smart Chain (BSC), Kadena, and Algo.

The Polygon (MATIC) network is among the smart contract blockchains that are well poised to stand the test of time based on its development and strategic partnerships. Valued at approximately $6.6 billion, the Polygon network had a total value locked (TVL) on its ecosystem of about $944.38 million. However, the figure is expected to grow exponentially in the coming years as the Polygon network is used by top DeFi protocols on the Ethereum ecosystem, including Uniswap decentralized exchange and AAVE lending protocol. 

As a result, the Polygon core developers in collaboration with Ethereum developers have been working on how to scale communication between L2 and L1 securely. In a recent post by Ethereum Cofounder Vitalik Buterin, both networks are collaborating on how to ensure the safe adoption of smart contracts by mainstream users.

Flux and Polygon Collaborates for Web3 Development 

According to Flux, a Web3 decentralized computing network, direct interaction with the Polygon (MATIC) network has been established via the FLUX-MATIC, a parallel asset that enables Web3 scalability on both networks. 

According to the announcement, Polygon network users can seamlessly participate in the Web3-focused Flux economy through staking, hosting Flux nodes, and earning mining rewards by swapping the parallel asset for Flux native token. 

On the other hand, the Flux-Matic parallel tokens will enable Flux ecosystem users to experience the immense power of a Polygon network via hybrid proof of stake and plasma-enabled sidechains. 

“Flux and Polygon share many commonalities. Hence, this Parallel asset will go a long way to increase the adoption of blockchain technology for different use cases and enhance the accessibility of these services to a global population,” Flux noted in a medium post.

Notably, the Flux-Matic tokens will be available on several multi-asset trading wallets that offer non-custodial services including Zelcore, with the airdrop already underway since June 19.

The Flux protocol has already inked partnerships with several blockchains to issue parallel assets including on Ethereum, Binance Smart Chain (BSC), Kadena, and Algo. With the Flux parallel assets, users can seamlessly access different blockchains at affordable transaction fees.

As a result, the web3 industry can safely scale through decentralized inter-chains through L2 and L1.

Market Outlook

The Polygon network remains an integral part of the Web3 industry, particularly in the Ethereum ecosystem. With global crypto users at around 420 million according to a recent Triple-A research, the Ethereum and Polygon networks, which have a combined dominance of more than 20 percent, are well positioned for mainstream adoption. The launch of Flux-Matic parallel tokens will significantly open up the Web3 industry that runs into billions of dollars.

Meanwhile, Polygon (MATIC) traded around $0.66 on Friday having gained approximately 14 percent in the past seven days.

 

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Filed under: Bitcoin - @ June 23, 2023 5:03 pm