The Polygon network was founded in 2017 by experienced blockchain developers Jaynti Kanani and Sandeep Nailwal and professional advisor Anurag Arjun. Co-founder Jaynti Kanani is the CEO of Polygon.
Polygon offers high scalability and superior user experience for users of decentralized applications (DApps) and is an off/side chain scaling solution for existing platforms. Polygon provides the key components and tools to participate in an innovative and decentralized finance ecosystem.
The SEC has recently filed lawsuits against Binance and Coinbase, claiming that many altcoins are unregistered securities. This development has led to a decline in altcoins, which are considered securities. One of these altcoins is MATIC. MATIC is down about 14% in the last 7 days and 0.82% in the last 24 hours.
Polygon Labs’ announcement of Polygon 2.0, which aims to build the internet’s “Value Layer” and includes a series of upgrades that the company says will allow users to “create, exchange and program value”, has had no bullish leverage effect on MATIC. Also, eToro's announcement that it will delist ALGO, MANA, DASH, and MATIC for its U.S. customers following the SEC’s actions may have contributed to MATIC’s decline.
