In a recent series of tweets, DeFi analyst Ignas from DeFi Research shared insights into Polygon’s long-term growth prospects. According to Ignas, the analyst’s Twitter handle, Polygon’s 10-year growth scenario projects an average price of $5 for its new native token, $POL.
Currently, $MATIC, Polygon’s predecessor, is trading at $0.77. Ignas based this projection on the assumption that the Web3 ecosystem will mature over the next 10 to 15 years. Polygon will launch more than 15 public chains and over 200 supernets and facilitate the development of over 1 million decentralized applications (dApps).
To foster growth, the network has set the inflation rate for the Community Treasury’s $POL tokens at a steady 1% per year. This same rate also applies to validator rewards. While the rate may be subject to change over the next decade, any modifications would only be downward adjustments.
It’s upcoming upgrade, Polygon 2.0, introduces the ability for validators to validate multiple chains simultaneously. However, what truly sets this upgrade apart is that POL token stakers will receive additional rewards in the native tokens of the chains they support.
This development marks the beginning of a new era of restaking, with notable features such as Eigenlayer for $ETH, Polygon 2.0, and Replicated Security for $ATOM.
Community Feedback & Skepticism On Polygon’s Future Development
Community members voiced their opinions on Ignas’ thread. One member expressed skepticism, questioning whether Polygon’s ambitious plans would materialize as projected. Ignas responded, acknowledging the difficulty of making predictions about the crypto landscape a decade in advance, comparing it to predicting breakfast choices.
When asked if Polygon was moving toward establishing its own Layer 1 (L1) standard, Ignas clarified that the Staking Layer is implemented on Ethereum, while the Interop Layer facilitates cross-chain messaging within the network’s ecosystem.
In response to inquiries about the token supply, Ignas confirmed that the initial supply of $POL is set at 10 billion tokens. However, the supply does not include inflation tokens. Ignas noted that the entirety of the initial supply is dedicated to migration, specifically the swap from $MATIC to $POL tokens. Furthermore, Ignas clarified that the swap ratio would be 1:1.
Polygon’s future appears promising, with an ambitious growth scenario and a robust ecosystem planned. While uncertainties remain, the team’s vision, rooted in the Ethereum ecosystem, continues to garner support and intrigue within the crypto community.
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