AMA Recap: CRYPTO MINERS X POLYGON

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts. Polygon is self-described as a Layer 2 scaling solution, which means that the project doesn’t seek to upgrade its current basic blockchain layer any time soon. The project focuses on reducing the complexity of scalability and instant blockchain transactions. Polygon uses a customized version of the Plasma framework which is built on proof-of-stake checkpoints that run through the Ethereum main-chain. This unique technology allows each sidechain on Polygon to achieve up to 65,536 transactions per block. As a Layer 2 solution utilizing a network of proof-of-stake validators for asset security, staking is an integral part of the Polygon ecosystem. Validators on the network will stake their MATIC tokens as collateral to become part of the network’s PoS consensus mechanism and will receive MATIC tokens in return.

We hosted an AMA session with Polygon DAO on 11th August.

Mr. Ramsy was the host from Crypto Miners and Miss Astha was the guest. She shared us with the features and functions of Polygon DAO.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to the Crypto Miners #Special AMA session With Polygon Dao

To help us learn more about Polygon Dao, We are lucky to be joined By Miss Astha Gupta

Hey Astha 👋

Astha | Polygon:
👋 gm gm everyone

Ramsy | Crypto Miners:
GM Mate 🤝

Welcome here

Thanks for joining with us today ❤️

Astha | Polygon:
Thanks for having me! So excited

Ramsy | Crypto Miners:
So do we 😃

How are you doing today mate?

Hope all are fine

Astha | Polygon:
very well, thank you! Hope you and everyone around are doing okay

Eth is all green! so exciting days :)

Ramsy | Crypto Miners:
So without wasting any time let’s get started our Introduction segment if you’re ready!!

Astha | Polygon:
yes yes totally!

Ramsy | Crypto Miners:
First of all Please make a concise and brief introduction about Polygon. Why its name was changed from Matic Network? How Is the Polygon Secured?

Astha | Polygon:
Polygon is a platform designed to support infrastructure development and help Ethereum scale. Its core component is a modular, flexible framework (Polygon SDK) that allows developers to build and connect Layer-2 infrastructures like Plasma, Optimistic Rollups, zkRollups, and Validium and standalone side chains like the project’s flagship product, Matic POS (Proof-of-Stake)..

In 2017, the Matic network was one of the only players in the scaling game and by far the most prominent, this allowed us to gain quite the head start as the demand for Ethereum rose. On February 9th, 2021, the Matic team decided to rebrand as Polygon, as they felt the name was better suited for global recognition as their popularity started to grow :)

Ramsy | Crypto Miners:
Thanks Astha For this great start about Polygon 👍

2. What are the features of Polygon that makes it superior and special as compared to its competitors? How is Polygon different from other implementations of Plasma?

Astha | Polygon:
Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.

-It is able to fully benefit from Ethereum’s network effects
-It is inherently more secure
-It is more open and powerful
Polygon along with Plasma has technology solutions for all use cases- from enterprise to developer use cases, zk, optimistic rollups..

Polygon uses decentralisation layer of Eth and combines with its own security and scalability layer

Ramsy | Crypto Miners:
3. Now tell us about the Polygon DAO. How someone can join it and vote for ecosystem?

Astha | Polygon:
Polygon DAO is the centerpiece of Polygon’s long-term strategy of progressively decentralizing the protocol and turning over control to the community.
Polygon DAO has several objectives:

- Represent the Polygon ecosystem

- Progressively decentralize its functions

- Build a neutral party to support the growth of the ecosystem

- Delegate and decentralize the functions of the Polygon’s internal teams, allowing Polygon to scale

- Evangelize to developers and communities

- Support DAO open-source initiatives

Anyone can join DAO on Polygon Discord channel.. Currently we are in phased decentralized zone and voting will be made available by implementation of Polygon id

Ramsy | Crypto Miners:
Alright 👍, Let’s move to our next question from this segment

4. What is Polygon Village and how developers can join it? What benefits they’ll get in it?

As a polygon village lead I think you are the best person to describe it well 😃

Astha | Polygon:
Polygon Village was launched in April as a one-stop-shop where developers get access to everything they need to build, grow, and showcase their Web3 initiatives. The program was born from Polygon’s desire to offer comprehensive, quality support to the projects building on Polygon.

The Village is managed by the DAO for two reasons:

to allow for a progressive decentralization

because the DAO represents the ecosystem and the support program is dedicated to the ecosystem itself

Support comes in many forms,
- including grants,
- a voucher program for services useful to project development,
- mentoring support offered by various experts.
- Village Wonders- 3 month pre-acceleration support program for selected 12 projects!
- Job board- find your best web3 jobs under one platform
You can learn more about Polygon Village here- https://village.polygon.community/ will all important application links

In last month, we had 1800+ projects application and we offered support to more than 1200 projects

Ramsy | Crypto Miners:
Impressive 👌

5. Now tell us shortly about Polygon Hermez, Avail and Miden.

Astha | Polygon:
Hermez: Hermez 2.0 is designed to seamlessly process smart contracts and efficiently verify state changes. It is promising not only to be secure and efficient, but also to accomplish competitive decentralization.

In the effort to achieve high-speed proving and succinct proofs for quick verification, the team is focused on the optimization of the zkProver.

The team also leverages the synergies among the different Polygon teams that are also looking into zk-rollups solutions for achieving Ethereum scalability.

Although development is still underway, it was important for this document to be released in keeping with the transparency of open-source projects, as well as keeping the Polygon community of developers and users of Hermez 1.0 updated.

AVAIL: Avail takes the data availability part off their plate. Any execution environment can use Avail for data ordering and availability. That includes standalone chains, off-chain scaling solutions, and any other type of execution environment. The applications hosted on these execution layers enjoy the full security of Avail from day one. No more bootstrapping validator sets. No more tokenomics.

Miden: Polygon Miden is layer 2 scaling solution for Ethereum. Miden relies on zero-knowledge technology (zk-STARKs) to “roll-up” thousands of layer 2 transactions into a single Ethereum transaction, thus, increasing throughput and reducing transaction fees. At the heart of Polygon Miden is Miden VM: a Turing-complete STARK-based virtual machine which provides a level of safety and supports advanced features currently not available on Ethereum.

Ramsy | Crypto Miners:
Lastly, what important updates and developments we’ll get in coming months and years in Polygon ecosystem?

Astha | Polygon:
Technology- Updates to follow in launch developments for Polygon id, zkevm and its major adoption, AVAIL and enterprise adoption and so much more
- After Coca-cola, Meta, Stripe, Mercedes etc developing on Polygon, there so many major companies and many major announcements to follow
- We are growing big time and hiring for all major roles
- We are in phased decentralization and DAO is growing very powerful

To keep updated, do follow us on Twitter, discord and our blog!

Ramsy | Crypto Miners:
Thanks Astha for this well detailed introduction about Polygon Dao:)

And that’s the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you’re ready for that!!

Astha | Polygon:
yes yes! totally

Ramsy | Crypto Miners:
So let’s roll…

Segment 2️⃣: Twitter Questions

1)You said that The Polygon DAO aims to decentralize, grow and innovate the Polygon community. Can you give us detailed information on your DAO governance system? How does one become a member of the governance system? What voting structure do you deploy in Polygon DAO?

Astha | Polygon:
Currently, Polygon DAO is on path of phased decentralization. Polygon DAO’s governance will be based on Polygon ID- which will form core layer for identity verification and voting layer.
more details here: https://blog.polygon.technology/polygon-id-x-polygon-dao-integration-launches-to-create-new-zk-based-governance-frameworks/

Ramsy | Crypto Miners:
2)You mentioned that “Polygon combines the best of Ethereum and sovereign blockchains into an attractive set of features”, but really which set of features are you referring to? And this will require assuming the cost rates of both chains?

Astha | Polygon:
Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.

-It is able to fully benefit from Ethereum’s network effects
-It is inherently more secure
t-It is more open and powerful
Polygon along with Plasma has technology solutions for all use cases- from enterprise to developer use cases, zk, optimistic rollups..

Polygon uses decentralisation layer of Eth and combines with its own security and scalability layer. This helps in scalability as gas fee is nearly neglibile in case of Polygon .

Polygon PoS serves as a hub for some of the most important Web3 projects, including Aave, Uniswap V3, and OpenSea, as well as the Lazy.com and Mark Cuban-founded Lazy.com. Polygon’s thriving ecosystem is one of the reasons why companies such as Meta, Adobe, Stripe, Telefonica, and Dolce Gabbana have chosen Polygon as their default gateway to Web3.

The PoS chain is only one part of Polygon’s suite of products that also includes Polygon Supernets, a fast-track for building application-specific chains, Polygon Avail scalable data availability layer and a number of zero-knowledge projects that will make network congestion a thing of the past. Last month, the team unveiled the ultimate Ethereum scaling solution — a fully EVM-equivalent zkEVM.

Ramsy | Crypto Miners:
3)During the project development, is everything going according to your plan? Are there any technical barriers that you think could pose limitations for mass adoption and expansion of POLYGON DAO?

Astha | Polygon:
DAO offer us interesting space to try and learn. Not everything goes as per plan but thats beauty where we can iterate and learn and develop on a continuous path.
Technically, Polygon is doing great as it has solution covering all use cases and soze of organisation.. Our $1b investment in zk is just an example to show our commitment

Ramsy | Crypto Miners:
4)I noticed the Polygon Village feature of the Polygon DAO, which is A full-stack ecosystem for developers to build and grow. What are the requirements for developers to get funding from Polygon Village?

Astha | Polygon:
Entire details on grants and vouchers are available on https://village.polygon.community/
Here’s application link to grants: https://new.questbook.app/explore_grants/about_grant/?grantId=0xd0557bee9a7c99aefaea92e236fa669ed428f5b7&chainId=137

Entire details on grants and vouchers are available on https://village.polygon.community/
Here’s application link to grants: https://new.questbook.app/explore_grants/about_grant/?grantId=0xd0557bee9a7c99aefaea92e236fa669ed428f5b7&chainId=137

Details

Benefits:
Grants ranging upto $15k under starter pack
Welcome vouchers ranging upto $40k across technical, marketing, legal, hosting, audit services, API services, design offerings etc- application form here- https://airtable.com/shrCIvexLWtuH1dJh
Dedicated Telegram groups for all grantees for real-time support and ecosystem connects
AMAs and marketing opportunities with wider Polygon community
Polygon investments and connect with VCs
Post bounties/ jobs to hire across Polygon wider community
Timeline: Monthly batches of grants
Monthly Applications submission closing date: 10th of every month
Evaluation- Between 11–20th
Processing & disbursements- by 30th of every month, we aim to distribute funds before the end of every month.
Evaluation process:
All grant evaluations are carried by DAO contributors spread across L1, L2, L3 reviews
Benefits disbursements are decided by DAO review committee based on projects stage

For any queries, you can join our TG channel- https://t.me/+Grpv3qzYnrs3MWY1 or join our Discord channel
All grantees will have to go through KYC/ KYB process (powered by Synapse)
Please share your TG handles in form- our team will reach out to you in case of any query
Detailed criteria's can be found here — https://docs.google.com/document/d/1LMnI90qCI-xuZM1g3RluhZgmRdsNZ6GOPnQ16yJLnow/edit?usp=sharing

Ramsy | Crypto Miners:
Let’s hear our last question from Twitter

5)Could you really give us more detail about the “Adapter modules”? What are its functionalities and how does it help in the compatibility of ETH with other projects?

Astha | Polygon:
Sorry, i didnt get this question.. Is it w.r.t to zkEVM? I would request to join our discord for this question

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Astha, Are you ready for our most excited segment? @GuptaAstha

Astha | Polygon:
Absolutely!

Ramsy | Crypto Miners:
lets go then

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Esra:
I am a regular user of the Polygon Ecosystem. So, can you tell me what is the benefit of being a normal user in joining the Polygon DAO? Are there any perks when I’m a DAO member? Will I be able to vote and share my opinions with the entire Polygon Ecosystem??

Astha | Polygon:
Within Polygon- whether you are a developer and non-techy- you can contribute, build and earn. We have job roles available across both within Polygon and our ecosystem partners. Polygon DAO is a great place to join and start learning from day 01- you can build content, get mentoring sessions, expert talks, mentoring sessions, grants & funding support and so on..

2) Asha.QI:
🛑Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?

Astha | Polygon:
Totally yes! Community can post question on twitter, discord as well as our forum- https://forum.polygon.technology/
We implement new sugggestions, asks and other events based on community involvement. Recent one is DeSci where based on community voting, we will be investing and promoting a lot in this space

3) Jarvis $BTC:
Many projects are already using Polygon architecture, I’ve seen most of them are related to in-game and NFTs features, how does Polygon can integrate to these kind of platform and make them sucessful? Is Gamified DeFi one of your core areas?

Astha | Polygon:
Polygon is invested in all domains- nft, gaming, metaverse, infra, defi, dao and toolings. As per latest Alchemy report, Polygon is home to more than 37,000 dapps so that majorly covers all areas.. https://blog.polygon.technology/polygon-is-now-home-to-over-37000-dapps/
The adoption of Polygon on Alchemy led to a surge in the popularity of new decentralized finance (DeFi) applications and non-fungible tokens (NFTs) on the chain. With over 142 million unique user addresses and $5 billion in assets secured, Polygon PoS has processed more than 1.6 billion transactions till date.

Polygon PoS serves as a hub for some of the most important Web3 projects, including Aave, Uniswap V3, and OpenSea, as well as the Lazy.com and Mark Cuban-founded Lazy.com. Polygon’s thriving ecosystem is one of the reasons why companies such as Meta, Adobe, Stripe, Telefonica, and Dolce Gabbana have chosen Polygon as their default gateway to Web3.

4) ⚡️𝙎𝙏𝘼𝙍𝘾⚡️:
Can you point out a few features or features that you like the most about the platform so that it can compete with other competitors? What are you most confident about for your platform? Do you have a plan to get users to choose your platform?

Astha | Polygon:
Users can select solution based on usage and their own use cases..depending on size, vertical, scalability vs security vs decentalized questions- different Polygon solutions cover different aspects and its upto users to select right solution as per thier needs

5) I noticed the Polygon Village feature of the Polygon DAO, which is A full-stack ecosystem for developers to build and grow. Can you share what features Polygon Village has to support developers? What are the requirements for developers to get funding from Polygon Village??

Astha | Polygon:
Interesting question- Polygon Village has offerings from more than 40 partners now ranging from free smart contract audits, marketing and content creation, access to wallet providers, APIs and node infra, tooling partners, bridges and so on.. We disbursed vouchers of more than $1m in last 3 months! You can apply on village website

*This segment ends here*

Astha | Polygon:
Hope this covers everything for today!

Ramsy | Crypto Miners:
Thankyou so much Astha For your valuable answers and information about Polygon Dao 💜

It Was Pleasure Hosting An Ama With You

Astha | Polygon:
Thank you for having me here!
Great job team CryptoMiners :)

Ramsy | Crypto Miners:
Time To Conclude Our AMA Section

Is there anything else you would like to share or you want us to know?

Astha | Polygon:
I think we covered a lot today.. For all imp info, please follow us on twitter, discord or read our blog :)

Thank you everyone! Take care and have a great day

Ramsy | Crypto Miners:
You too 🤝

Community, if you would like to learn more about Polygon Dao, here are some useful links for you:

Website: http://polygon.community/
Twitter: http://twitter.com/0xpolygondao
Telegram: https://t.me/polygonofficial
Discord: https://discord.com/invite/Ct3FBqWSus
LinkedIn: https://www.linkedin.com/company/0xpolygon/
Instagram: https://www.instagram.com/0xpolygon/
Reddit: https://www.reddit.com/r/0xPolygon/
YouTube: https://www.youtube.com/c/PolygonTV/
Medium: Polygon