Polygon Team
- Jaynti Kanani: Prior to co-founding Polygon (Formerly Matic Network), Jaynti Kanani worked as a blockchain engineer. During the CryptoKitties boom, he recognized Ethereum’s scalability challenges and shared these insights with Sandeep Nailwal and Anurag Arjun. Together, they co-founded Matic in early 2018.
- Sandeep Nailwal: A software engineer, Sandeep Nailwal launched ScopeWeaver in 2015, India’s largest professional services marketplace built on blockchain infrastructure. He has worked with industry giants like Welspun, Asia’s largest textile company, and served as a consultant for Deloitte.
- Anurag Arjun: With extensive experience in software product management since 2006, Anurag Arjun has held key roles in leading Indian companies. In 2008, he worked as a Product Manager at Dexter Consultancy, and in 2013, he joined IRIS Business Services as Associate Vice President of Product Management, where he improved product UX and performance.
- Mihailo Bjelic: Another co-founder of Polygon, Mihailo Bjelic holds a degree in Information Systems Engineering from the University of Belgrade. He is a prominent figure within the Ethereum community and a close collaborator with Ethereum researchers.
The Function of the POL
POL is Polygon’s native token used to interact with tens of thousands of dApps on the Polygon blockchain and to secure the network through staking.
- Gas Token: POL is primarily used to pay for fees generated by transactions or applications built on Polygon PoS. It also incentivizes validators to process and verify transactions, ensuring the network’s functionality and security.
- Security Token: Polygon PoS uses a Proof-of-Stake mechanism secured by staked POL. Holding POL helps secure Polygon PoS and earns rewards. Validators are disincentivized for malicious behavior, maintaining network integrity.
- Governance Token: Validators play a key role in Polygon PoS, using Polygon Improvement Proposals (PIPs) and participating in a decentralized manner to ensure the network operates according to community consensus.
- Community Fuel: POL tokens drive sustainable growth through an emission model, where a portion of token emissions funds community-driven projects to support ongoing Polygon development.
- Hyperproductive Tokens: POL tokens are highly efficient, allowing validators to secure multiple chains and play multiple roles on the Polygon network, enhancing security, scalability, and overall efficiency.
References