$MATIC Continues to Impress

Massive acquisition for Polygon and adoption is on the rise

Welcome to the 12th Alpha newsletter. We curate alpha for you. That’s it; that’s the newsletter.

---

We used to think of Polygon (formerly Matic Network) as just an Ethereum side-chain. Well, much has changed and there is good reason to believe that Polygon is becoming one of the greatest Ethereum L2 scaling solutions.

---

---

The latest fundamentals

The major news from Polygon’s Zk-Day was that Mir Protocol has joined the Polygon suite of rollups. $400 million is a mega acquisition and puts Polygon at the forefront of scaling Ethereum using Zk-Rollups. 

Polygon | $MATIC - We're hiring! @0xPolygon

1/8 It's official: #Polygon welcomes @mirprotocol, a groundbreaking ZK startup in a $400M deal! Mir's amazing team developed the world’s fastest ZK scaling tech; we are joining hands to utilize it and build Polygon Zero - a highly-scalable, Ethereum-compatible ZK Rollup. 🦄💫

You can dive deeper into the tech here. 

Mir (🔜 Polygon Zero) @mirprotocol

We know people have lots of questions about our acquisition by @0xPolygon. We're excited to address all of them! For now, to learn more about Mir-- Check out our blog posts: mirprotocol.org/blog And our GitHub: github.com/mir-protocol More info coming soon!

github.comMir ProtocolMir is a blockchain in which each state transition is accompanied by a cryptographic proof. - Mir Protocol

There has been an increasing narrative on Twitter that many monolithic layer 1s will eventually pivot to become an Ethereum rollup.

RYAN SΞAN ADAMS - rsa.eth 🦇🔊 @RyanSAdams

It was hinted in our podcast last week...now it's here. @0xPolygon just acquired @mirprotocol an Ethereum compatible zk-Rollup. Mir is pivoting away from a standalone L1 and becoming an Ethereum rollup. Now called Polygon Zero. Bullish Polygon. Bullish Rollups. Bullish ETH.

This is a nice graphic that illustrates Polygon’s thesis and framework; and showcases the various different chains they will have aimed at scaling Ethereum.

$MATIC adoption continues and the metrics are looking better and better each week.

Raphael @RaphaelSignal

1/ @0xPolygon adds 275k+ new users! This is the 11 consecutive week w/ more than 200k addresses added. Today we take a look at $MATIC's retention metrics, including retention curves, tables, and cohort analysis. Full details👇👇👇

Uniswap is about to deploy on Polygon.

hayden.eth 🦄 @haydenzadams

The formal on-chain vote to deploy uniswap v3 to @0xPolygon is now live! Vote here: app.uniswap.org/#/vote/2/10 https://t.co/UCwFrZtmAx

Mihailo Bjelic @MihailoBjelic

We initiated the final phase of the governance process - On-chain Vote: https://t.co/PcHcnrcj2u. If the vote passes, the deployment is officially approved. 🤗 Huge thanks to the Uniswap community for the overwhelming support so far! Let's make this happen! 🦄💫 https://t.co/RePmCRaBlb

170M $MATIC is being staked by the co-founder. He must be confident.

Sandeep - Polygon - NAE (NOT Abandoning ETHEREUM) @sandeepnailwal

I am going to be staking all my existing $MATIC Tokens in the network, so will be moving 170m tokens to staking. Please don't be alarmed on the large token movement.

And it’s a sign that Polygon has the right type of founders. 

Crypto Maxi @cryptoMaxi420

Instead of @0xPolygon founders cashing out and living insane lives like some other founders 👀👀👀, they are buying up the land scape with those profits and becoming the 1 stop shop solution for ALL #Ethereum scaling

The first $MATIC ETP has been launched.

CoinDesk @CoinDesk

$MATIC jumped after @21Shares announced a @0xPolygon ETP. The crypto space is tiny even compared to @BlackRock alone, says Dean Thomas, Polygon's Head of Institutional Capital. Moves like this are "about giving people access." Presented by @NexoFinance: youtu.be/c6tO1aXBjuM

$MATIC has been one of the strongest performers during this turbulent period for the market. They do say you should buy the alts showing the most strength in market downturns.

CoinGecko @coingecko

Last week, MATIC @0xPolygon held the omicron dip really well after some high profile announcements and acquisition. It outperformed BTC and ETH. With all eyes on scaling mainstream into the metaverse, Polygon is primed to play a major role.

A key point here is revenue and bridge inflows are on the rise. This suggests much more activity is happening on Polygon.

Raphael @RaphaelSignal

1/ $MATIC sets 4th consecutive ATH in revenues!! Bridge net inflows balloon to +$535mm. DAU continue climb DAU: 354k (+4%) Tx/day: 3.9mm (-6%) Rev/day: $135k (+44.5%) Cost/tx: $0.035 (+53.8%) Net bridge inflows: $536mm (+153%) Net depositors: 25,981 (+9.73%) Full analysis 👇👇👇

The growth in VRF requests on Polygon is something to take note of. This will be linked to gaming, NFT or lottery applications. 

TheLinkHound @link_hound

Staggering number of @chainlink fulfilled monthly VRF requests on @0xPolygon 1.6 million in 4 months HUGE Aug - 315,660 Sep - 437,539 Oct - 513,306 Nov - 391,443 Credit to @GreenSockMonkey for this data 🫂 & there's lots more data where this came from 😉

A very cool pilot project on Polygon involves the NFL!

Bankless 🏴 @BanklessHQ

The @NFL is working with @0xPolygon on an NFT ticket experiment 👀

Another development that has gone slightly under the radar.

Umbra @UmbraCash

📢 A big announcement for Umbra today! We're extremely excited to share with you that Umbra is now available on @0xPolygon. With one transaction, costing less than a cent in fees, you can be configured to receive stealth payments on the Polygon network. scopelift.co/blog/umbra-is-…

If you want to go deeper with some more fundamental analysis. BillyBobBaghold has a thread for you.

Multi-Chain Maximalist (∞) @BillyBobBaghold

🧵 $MATIC is primed to enter into price discovery IMO. It’s fundamentals and technicals line up nicely so it’s a very bullish set up Like most of my threads, this one focuses on fundamental analysis, but it’s worth touching on the bullish technicals to begin with

TA ideas

Imagining a run with the Coinbase NFT marketplace launch as the climax…

THE MAYOR OF MATIC @MayorOfMatic

$MATIC ...what if

Another idea.

TechDev @TechDev_52

$MATIC 2021 looks remarkably like $ETH 2017. I review top targets for $MATIC $LUNA and $TRIAS in the latest newsletter issue. 👉 getrevue.co/profile/techde…

But, wait, is there a catch?

Because we don’t want to just live in an echo chamber, it’s important to recognise different opinions. Here is another thread and perspective on why the acquisition might not be as bullish, at least for the price, as you might think.

Adam Cochran @adamscochran

1/5 So their big announcement was that months after acquiring another ZK-rollup solution, Matic once again spent almost 200M $MATIC tokens on a separate ZK-rollup company...

The Block @TheBlock__

Polygon acquires ZK-rollups startup Mir Protocol for $400 million (via @Yogita_Khatri5) https://t.co/QCWVTAXSoa

We like the memes

Like the Dark Knight Trilogy and a fan of Polygon? This one is for you… 

Asif Khan @0xkhan_

An epoch started for @0xPolygon way back in April , with Polygon defi summer . An epoch is starting now , with Polygon Zk-verse . Exhilarating ,exciting , invigorating !

And that’s your alpha.