Matic Network (MATIC) Collaborates with Gitcoin to Foster Mainnet Adoption

Matic (MATIC), a Layer 2 scaling solution on July 8 announced it would launch “Large Scale Developer Initiatives” in collaboration with Gitcoin to foster mainnet adoption.

Focus on Mainnet Adoption

In a blog post published yesterday, Matic Network launched “Large Scale Developer Initiatives,” starting with a partnership with Gitcoin to encourage blockchain developers to build projects on the Matic mainnet. Specifically, Matic is looking to incentivize decentralized applications (dApp) developers at all stages of development – from inception to fully-fledged and operational phases.

The off-chain scaling project added that instead of just serving as a scaling solution, it aims to develop its own ecosystem of developers and dApps on the Matic Network.

Campaigns aimed toward developer adoption include a Build-n-Earn initiative which is essentially a monthly recurring incentive program for developers to bootstrap their teams. A security hackathon, dubbed Matic Layer 2 Security Hackathon has also been launched to attract protocol developers to Matic with bounties of $50,000 and above up for grabs.

Several accelerators and incubators have also been launched to provide promising blockchain projects with funds as and when they require. Notably, Matic has already initiated one such accelerator with the Govt. of Telangana in India dubbed T-Block. The team said with regard to the T-Block initiative:

“Organized by Tech Mahindra and the Telangana government, the initiative will further the Telangana government’s mission to make Telangana the ‘Blockchain Capital of the World’. Matic, along with Harmony, will be providing T-Block startups with support and the infrastructure required to build DApps with the performance required to facilitate mass adoption.”

Matic seeks to launch more such accelerators in the future.

Staking and dApp Onboarding

As reported by BTCManager, Matic Network launched the first iteration of its staking solution toward the end of June.

At press time, with approximately 16.80% of MATIC tokens staked, the dApp-ready sidechain solution’s staking platform offers 59.20% annual returns. It’s worthy of note that with an increasing amount of MATIC staked, the corresponding annual yield would go down.

Matic Network has also been pitching itself as a scalable and conducive blockchain protocol for dApps. To date, Matic has attracted more than 50 dApps to its Proof-of-Stake (PoS) and Plasma sidechain.

Recently, blockchain RPG game Neon District announced that it would be rolling out on Matic Network.