Mark Cuban has supported Ethereum’s Layer 2 scaling solution, Polygon. Although Cuban admitted that he has invested in the platform, he did not indicate how much was invested.
The multi-million dollar investor support has already started to pay off, as the protocol’s native token MATIC / USD has risen by 40%.
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This means that the value of the MATIC token has risen over 9,535% to date, according to Messari data.
More projects on the platform
Polygon has been pretty busy lately with more projects and updates on their platform. More decentralized finance (DeFi) projects have been registered on Polygon and users have increasingly adopted the platform as an alternative to the main Ethereum network. The protocol is considered a cheaper alternative to the Ethereum blockchain, which is considered too expensive for retail merchants.
Cuban stated in an email,
I was a Polygon user and I find myself using it more and more.
Additionally, Cuban stated that he has integrated Polygon into Lazy.com, a Cuban wallet firm that allows users to easily display non-fungible tokens (NFTs).
Polygon has also announced that it has become part of the Mark Cuban portfolio of companies.
🔥 @mcuban is one of the most prolific and insightful investors with investments in top startups and he is also one of the Sharks on @ABCSharkTank.
🙌🏻 We’re proud to share that @ 0xPolygon is now part of the Mark Cuban company portfolio!
🌐 Visit: https://t.co/RZg0oIomFS
– Polygon (previously Matic) (@ 0xPolygon) May 25, 2021
Sandeep Nailwal, co-founder of Polygon, commented on Cuban’s investment. He said the company has spoken with several investors, but his meeting with Cuban was “truly mind-blowing.”
Cuban also uses the platform personally
The investor’s website has also been updated with some statistics and a description of the Polygon platform.
Cuban has also revealed that he is a personal user of the Polygon platform. He stated,
I was a Polygon user and I find myself using it more and more.
Some of the major DeFi platforms, such as mStable, Aave, and Curve Finance, have migrated to the Polygon platform in an attempt to take advantage of the minimal fees available on the protocol. They are also interested in the faster DeFi offered on the platform.
