Thursday, September 29, 2022

Polygon issued 140 crore MATIC tokens in 1 hour

On Tuesday, Polygon unlocked 1.4 billion (140 crore) MATIC tokens from its planned vesting contract. Polygon had already informed about this unlocking plan. The amount of 140 crore tokens unlocked is equivalent to 14% of the total token supply. According to a popular crypto price tracking platform, the total circulating supply of MATIC tokens is 8.035 billion (approximately 800 crores) equivalent to MATIC.

Polygon has unlocked 140 crore MATIC tokens under its already set plan. The report states that Sandeep Nailwal, the co-founder of Polygon, informed through a tweet that the plan of Unlock [पहले ही] was created and these tokens were blocked a year ago. Polygon’s vesting period ended in April this year, but despite that the token is now claimed.

In addition, Polygon has Post The 1.4 billion unlocked MATICs are divided into three groups, of which 640 million MATICs belong to the project team, 546.6 million go to the project team, and 200 million MATICs are distributed as rewards for staking.

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According to CoinMarketCap, the total circulating supply of MATIC tokens is equivalent to 8.035 billion (approximately 800 million) MATIC.

Apart from this, let us tell you that last month one of the leading blockchains Ethereum scaling network Polygon launched its new scaling solution zkEVM. It can work with all existing smart contracts, wallets and developer tools. This will allow developers to release their projects using Ethereum’s programming language.

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