John: First and first most, we would like to start about introduction about UNIFARM especially introducing it to our newcomers coming from different project community members! Please @TheMohitMadan @TMittal
Mohit Madan: Unifarm is simply trying to create value for the ecosystem. Users can stake one token and earn a bunch of tokens as rewards. Our first pool was a massive success, and in our second pool we have DeFi superstars including MATIC, ZEE, NORD, TVK, ROUTE and ORO!
John: Superb! What are the inspirations and motivations that led you to design UNIFARM and how does it differ from other staking programs?
Tarusha Mittal: The difference is very simple β
- One place to stake multiple tokens
- High APY
- No market exposure
- You stake one and farm many
- Self-custodian wallet
It is a complete game changer especially with such amazing projects for the end user π
John: Can you share with us more about the upcoming plans or future rounds and new concepts for Unifarm? @TMittal @TheMohitMadan
Mohit Madan: We’re working with several projects to launch multiple pools this month. Some of those pools will be on different chains (Matic, Binance, Huobi etc).
We’re working on additional gamification and innovation with whitelisting, referral program etc.
I’m confident that the second pool is going to be one of the best ones.
John: We have seen a great success with the 1st Cohort of Unifarm, with $415k locked tokens in just a matter of 20 minutes. One common problem that was raised from the community are the gas fees. What are your opinion about this and how can you address this problem? @TheMohitMadan
Mohit Madan: Gas fee hurts everyone.
Zeroswap (@a17jain) and Dfyn (@Rsquare007) founders have been working on solving this problem for the industry.
With UniFarm we’re working on solving this problem in 3 ways β
- Whitelisting gamification framework
- Launching pools on L2 and other chains
- Optimizing the contract
John: What are the new features of Unifarm as it introduces Cohort 2 projects? @TMittal
Tarusha Mittal: There is a new and revamped UI, for better experience for all of our users. We have worked on the initial bugs.
The rest of it is pretty much the same – staking with ease! π
John: Thanks so much for the clarity in your answers, and congratulations on Unifarm Cohort 2! π
Let’s move on to questions from the projects joining, Matic Network!
John: Can you give a short introduction about yourself
Arjun Kalsy: Hey Everyone, I’m Arjun and I head growth at Polygon (previously Matic Network) Stoked to be here with all the awesome members of the farm!
John: We would like to know about Polygon.
Arjun Kalsy: The crypto industry observed the project name has recently changed to Polygon, please why has the team decided to do so at this time?
We have rebranded ourselves from Matic Network to Polygon.
We did this as we have now expanded our scope and vision and now want to build the internet of blockchains for the Ethereum ecosystem. Matic Network was conceived in 2017 to solve for the scalability issues holding back the mass adoption of Ethereum. The way forward was provided through the use of the Plasma technology to build a Layer-2 on top of the Layer-1 chain. However, the space continued to evolve and today we have many Layer-2 techniques like Optimistic Rollups, ZK Rollups etc. each with their own advantages and drawbacks.
We realised that the if we have to build the platform of the future, we need to create a layer which will allow the use of multiple scaling techniques thereby giving the developer, maximum flexibility possible when it came to creating Dapps. To visualise, think of a system with Ethereum at its core and a layer around it, which is the Polygon SDK, which allows for multiple scaling techniques to be used, thereby extending the Ethereum ecosystem and allowing it scale like never before.
The name Polygon, an n-sided figure which can fit any shape or size, seemed fitting for this endeavour.
We will now continue to develop our production ready technology, which is our hybrid Plasma-POS chain and build new features and tooling around it. To build these new features and our ecosystem, we have on-boarded some great advisors like Anthony Sassano, John Lilic, Ray Sean Adams to help us.
Our token, governance and core team remains the same.
You can read more about it here:
John: What is the future of Polygon?
Arjun Kalsy: At Polygon, we are trying to build a future focussed architecture to help scale the Ethereum ecosystem. The future will not consist of a single, all-conquering technology, but will be a multi-chain type system with multiple scaling techniques built in to allow for scalability and composability, within the same structure. We will be coming out with regular updates on the development of the Polygon SDK and related tooling and documentation. Stay tuned!
We want to bring a never seen before flexibility to the Ethereum ecosystem and build the kind of platform which can help on-board the next million blockchain users. With more mainstream adoption, we are seeing more and more development and interest in blockchain technology. We feel that the world is at a tipping point, where we will now see the mass adoption of blockchain technology, just like how cloud technology enabled AI/ML to thrive.
This is the best time to get into blockchain technology, because even in 2021, you are still an early adopter.
Shashwat Eternal: Could you please explain the main differences between the two solutions that are currently live on your platform; Matic PoS Chain, and Matic Plasma.
Arjun Kalsy: There is actually only one solution, which is the Plamsa-POS chain. The difference only comes when it comes to the exit mechanism to Layer-1.
The way the sidechain is currently designed, every few blocks, we merkle root all the transactions and place a checkpoint on Ethereum. The consensus mechanism of this chain is Proof of Stake. This way, the chain is Hybrid Plasma-POS.
When you want to exit the L2 chain and take your assets to L1, you have 2 options. The plasma exit or the POS exit. The plasma exit has a 7 day exit period during which anyone on the L1 can challenge the veracity if the transactions. The POS exit takes less than 30 mins, since it uses the strength of our decentralised POS network (85+ validators across the globe), to ensure the security of the transaction.
You can read more about our architecture here:https://docs.matic.network/docs/contribute/matic-architecture