Polygon Labs’, Polygon’s research and development division, saw 2024 as a year of breakthrough, largely due to the mass adoption of Polymarket during the US Presidential Elections.
Polygon Labs and Jio Platforms of Reliance Industries teamed up to deliver Web3 to more than 450,000,000 Jio subscribers, increasing mass adoption.
Polygon PoS TVL reached a record high in 2024 of $1.3billion. This was achieved by Polygon PoS TVL on November. MATIC’s market capitalization has dropped 67% in the last year, due to increased competition with Arbitrum and Optimism and its conversion to POL.
“Market cap is just one metric–it doesn’t capture real-world adoption, developer activity, or ecosystem growth,” Marc Boiron, CEO of Polygon Labs told ICD in an interviewTHESTREET.COM
Boiron spoke about the impact of Donald Trump’s election on global blockchain. He also discussed Europe’s MiCA regulations. Boiron also discussed Polymarket’s popularity, despite the scrutiny it has received, as well as debates over Solana resurgence and Layer-2 fragmentation. He then addressed how Agglayer intends to address these issues.
Excerpts edited:
Jio partnership unlocks real-world blockchain adoption
Invezz: You partnered recently with Jio Platforms. This is an important development. What changes has this brought about for you? More partnerships like this (included government) are on the cards
Polygon is a blockchain platform that was created in India. Its mission: to make the technology scalable, and accessible for everyone.
Jio Platforms’ collaboration with Jio is perfectly aligned with the vision to bring Web3 technology to all.
The Polygon PoS blockchain (Proof of Stake), offers speed, low costs, and the scalability required to seamlessly onboard large numbers of users.
The integration of Jio unlocks blockchain adoption on a scale never before seen.
Web3 has the power to change digital experiences in India and other fast-growing markets.
MiCA is a model of balanced regulation
Invezz says Donald Trump’s victory has been a turning point for cryptocurrency. What do you think will happen to the Blockchain industry in India and globally?
The four NFT drops by President Trump on Polygon PoS show how major politicians are recognizing the power of this technology.
We expect more clarity in the regulatory framework and more building.
MiCA in Europe, a model of balanced regulation for the rest the world is MiCA. If the US, or other markets, follow this example, they will have the confidence needed to grow Web3.
The right Indian framework can position India as the global leader for blockchain innovations.
The regulatory change will increase the demand for institutions to develop their applications on Polygon PoS.
Institutions in the payment space have already felt this momentum.
Polygon’s role in tokenizing real-world assets (RWAs)
Invezz says that tokenization of real-world assets (RWAs) is on the rise. Polygon’s role in this new trend
Tokenizing real-world assets makes it easy to move traditional assets onto blockchain.
Polygon PoS provides low transaction fees, strong security, and fast transactions–everything you need to tokenize real estate, commodities, and other assets.
PoS already powers projects such as fractional ownership of real estate and commodity tokenization. This helps unlock liquidity and brings more transparency.
Polygon PoS offers the cost-effectiveness and scalability these projects require.
Platforms like Courtyard are driving the growth of tokenization by increasing sales and bringing assets off-chain on-chain.
Growing regulatory scrutiny of Polymarket after Super Bowl and US Elections
Invezz’s Polymarket is the new betting site for Superbowl. It has drawn the attention of regulators, such as the CFTC, in the US. Some countries, including Singapore and Thailand, have even blocked the website. What are your thoughts?
Polymarket’s success during the US election and Super Bowl highlights the increasing demand for prediction markets.
This is a great example of the way blockchain technology can improve transparency and efficiency in markets that are traditionally controlled by central players.
As the market evolves, regulatory scrutiny will be expected. However, we think that well-defined frameworks – like MiCA in Europe – can provide a way forward.
Clarity is key to fostering innovation and addressing concerns about compliance.
It is more likely that this will happen when you have a strong application, such as prediction markets.
Always, we want to find a more reliable source of information.
The US election showed that prediction markets such as Polymarket provide better information than the traditional media. This is why regulators want this innovation to flourish.
The problem of fragmentation does not only affect Ethereum, but all crypto currencies.
Invezz :How would you react to the claim that Solana, and other Layer-1s have gained momentum while Layer-2s fragment?
This is the type of challenge we face as core Agglayer collaborators.
It’s important to note that no single chain is capable of serving as the foundation for a blockchain powered internet.
No matter how much momentum Solana, or other L1 networks may have, it’s impossible to scale mass adoption by a single network.
Right now, massive pools of value are locked within isolated ecosystems–Ethereum, Solana, Bitcoin, and beyond.
The fragmentation problem is not just Ethereum-specific. It affects the entire crypto industry.
It is not possible to seamlessly interoperate between these two ecosystems in a native and safe way.
Agglayer is the perfect solution.
It is the mission of Unify Crypto, regardless of stack or chain architecture.
Jupiter’s “Aggregate Everything”, a recent push for the Solana eco-system, echoes Agglayer’s vision from the very beginning.
This is an important game changer for chains such as Polygon PoS.
Connecting to Agglayer means tapping into a larger network of dApps, users, and liquidity across all connected chains, with a uniquely safe architecture for native asset transfers and frictionless cross-chain interoperability–something no other solution offers today.
Solana’s success is great news for Web3, however, we will need to find a way to integrate many different chains to meet the growing demand for Blockchains.
Cryptography’s future requires open and seamless connectivity, just like today’s internet.
MATIC’s market capitalization is not a true reflection of real-world adoption
Invezz :MATIC’s market capitalization has declined, while Mantle Arbitrum Optimism and others have taken over… what do you think of the competition?
A healthy ecosystem is one that encourages competition. Mantle arbitrum Optimism and other scaling solutions for Ethereum are contributing to a broader adoption.
The market capital is only one of many metrics. It doesn’t reflect real-world adoption or developer activity.
Polygon is a leader when it comes to scaling. It has the most widely adopted ZK Technology, many enterprise partnerships and an active developer community.
Polygon will be the most connected scaling solution with Agglayer, which is a new technology that unifies liquidity between chains.
Our focus is on the long-term, and not just short-term ranking.
Polygon is the network that continues to be at the forefront of innovation and on-chain activities.
Invezz : How long will the POL token be used in the Polygon 2.0 eco-system?
The final decision will be made by the community.
After consensus was reached, MATIC has been upgraded to POL. This will bring about changes in emissions and the future utility of an aggregated eco-system.
Discussions in the community will shape this service’s roll-out.
Polygon 2025 is all about breaking through by aggregation
Polygon: what will be the 2025 theme? What do you think Polygon will look like in 5 years? Will it be more decentralized, or enterprise-focused, for example?
The year 2024 saw dApps such as Polymarket and Courtyard.io achieve mass adoption.
These platforms, built on Polygon PoS technology, demonstrated the role of the network as a platform for utility and scale. Breakout through aggregation is the theme of 2025.
Polygon PoS is one of the chains that has the highest usage, and the statistics prove it.
AggLayer, the new industry connective tissue that seamlessly links chains, states, and users, is also emerging.
In five years, Polygon PoS is going to be the keychain within Agglayer. Agglayer will drive payments and adoption of stablecoins at scale.
Polygon Labs’ vision is progressive decentralization.
The community governance already shapes the direction of the network, and its influence is only going to grow.
The ICD published this interview: “No single chain is capable of serving as the foundation of a Blockchain-powered Internet,” says Marc Boiron, Polygon Labs.
This site is for entertainment only. Click here to read more
