Why does Polygon have huge airdrop potential?

Author: Taiki Maeda, HFA Research Translation: Shan Ouba, Bitchain Vision

If you often browse cryptocurrency Twitter, you will definitely see a lot of negative comments about Polygon and its token MATIC.They believe that Polygon has spent tens of millions of dollars in invalid BD cooperation, such as Degods/Y00TS (disappointing), Starbucks Odyssey program, and Nike’s Swoosh project.

These criticisms are not unreasonable, but whenever the market emotions become so negative, market participants can easily ignore the active catalyst of the “white swan” incident that may be used as the original currency MATIC.In this article, I will focus on the three main catalysts that the market ignores. They may lead to severe price restructuring:

Polygon’s new Agglayer: Compared with the traditional Optimistic Rollup, Agglayer has significantly improved in terms of scalability and security.If Polygon implements this technology, it may make its network truly compete with Ethereum.
MATIC’s brand is POL & AMP; New Type function: The upcoming brand reinstation and token function update may bring new use cases and user bases to MATIC, thereby further enhanced its value.
POL airdrop narrative: The rumored POL airdrop may attract a large number of users to participate in the Polygon ecosystem and push up the price of MATIC.

Polygon new Agglayer solve ETH expansion Fragmentation problem

There are many problems with ETH expansion route diagrams, one of which is decentralized liquidity.As we have seen Blast, Manta, and Mode Network, we feel that there will be a new Layer 2 project every two weeks.Because all these Layer 2 use ETH as the settlement layer, the liquidity of each layer 2 is separated from each other.This leads to a bad user experience, and it also makes us very optimistic about Dymension. It is a Rollapp settlement layer. It uses IBC to connect different execution layers as a key part of the modular stack.

If any social proof is required, Bankless and Justin Drake have recorded a two -hour podcast to discuss the problems in the Layer 2 ecosystem.Like the Optimism team is building Superchains, similar to Dymension’s vision, but we think that Polygon’s Agglayer will go public faster.

As shown in the figure above, Polygon aims to create a new “gathering layer” to solve this problem.At present, all ZK-Rollup must send proofs to ETH alone, which makes the bridge experience very cumbersome.However, with Agglayer, all Layer 2 can now send their proofs to Agglayer. Agglayer can “aggregate” a “aggregation” as one and publish a unified bridge contract at one time.

Therefore, all Layer 2 can integrate AggLayer and other Layer 2 unified liquidity.This means that a chain like Immutable X can share liquidity with Manta Network.This unity will definitely bring more value accumulation to the application layer, because developers have more liquidity and can use these liquidity to create better products.

There is no such type of solution in the current market. We can look forward to the following flywheel effect:

Polygon CDK makes the deployment ZK-Rollup simple
The combination of L2 attracts more L2
Possible airdrop
Agglayer increased security (flowing to $ POL on the front)

MATIC is renamed POL

How is the value of tokens accumulated, and what is the role of POL?MATIC can be exchanged for POL 1: 1. Currently, MATIC is used to protect the Polygon POS chain, but once Agglayer is launched, POL can be used to protect Agglayer.

Although the valuation of the tokens reached 9 billion US dollars, it did not look cheap, most of the lock -up period had ended, and the complete diluted market value (FDV) transactions of other L2 were 10 billion to 20 billion US dollars.Below is an excerpt from the report written by Thiccythot:

As more teams use the advantages of Agglayer, the demand for POL should rise due to economic security.MATIC may also benefit from the DENCUN upgrade on March 13, and the upgrade introduces EIP-4844.As Agglayer builds a network effect, we should see more and more L2 start on Agglayer, which proposes another interesting bullish narrative.

POL airdrop narrative

In our article, we like to be empty narrative.Our founder Taiki MAEDA received a six -digit $ DYM airdrop. Our analysts are also fortunate to obtain a six -digit $ JTO airdrop through active chain behavior.As the fear of supervision prevented the team from introducing direct income division, we saw token introduce “indirect value accumulation” and airdrop narrative.Pick up this token to get the airdrop, pledge this airdrop to receive more airdrops!

Avail previewed the airdrop to $ DYM holder once.However, we believe that Avail’s airdrops are more likely to be issued to Matic holders, because Avail is separated from the Polygon brand and is responsible for Avail’s development by Polygon’s co -founder.There are rumors that they will launch their main network on the 26th, just three days after Polygon’s Agglayer launched on the 23rd.

Is it possible to take snapshots on the day of “Jugging Day”?If Celestia’s FDV is about $ 20 billion, we will not be surprised, if Avail’s FDV is also more than $ 10 billion.Indeed, for the holders of $ DYM and $ matic, this will be a great airdrop.

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We believe that pledged MATIC has an incomparable risk return.Compared with other options, pledged MATIC to the verifications can obtain about 5% of the annual yield, and the unlocking cycle is 3-4 days, making it a more attractive airdrop participation method.Other options, such as pledged TIA/DYM, unlocking cycle is 2-3 weeks, and has a higher inflation rate and VC locking period.

Polygon’s new Agglayer is expected to solve the problem of decentralization of liquidity in the L2 ecosystem.With more projects based on Agglayer, we can expect that in addition to the inherent pledge income, POL pledges can also get more airdrop rewards.

Disadvantages of pledged MATIC: