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Matic Network
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Matic Network

Matic Network MATIC

Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based sid...

About

Matic Network provides scalable, secure and instant Ethereum transactions. It is built on an implementation of the PLASMA framework and functions as an off chain scaling solution.  Matic Network offers scalability solutions along with other tools to the developer ecosystem, which enable Matic to seamlessly integrate with dApps while helping developers create an enhanced user experience.

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KEY FEATURES

  • Scalability: Fast, low-cost and secure transactions on Matic sidechains with finality achieved on mainchain and Ethereum as the first compatible Layer 1 basechain
  • High Throughput: Achieved up to 10,000 TPS on a single sidechain on internal testnet; Multiple chains to be added for horizontal scaling
  • User Experience: Smooth UX and developer abstraction from mainchain to Matic chain; Native mobile apps and SDK with WalletConnect support
  • Security: Matic chain operators are themselves stakers in the PoS system
  • Public Sidechains: Matic sidechains are public in nature (vs. individual DApp chains), permissionless and capable of supporting multiple protocols

IEO’s Details

  • GENERAL INFORMATION

  • IEO Platform:

  • IEO Opening Date:

    Apr 24th, 2019 8:00 am (UTC)

  • IEO Closing Date:

    Apr 26th, 2019 2:00 pm (UTC)

  • Country of Origin:

    India

  • TOKEN DETAILS

  • Symbol:

    MATIC

  • Blockchain Type:

    Ethereum

  • Role of Token:

    Utility

  • Finance Information

  • Public Sale Hard Cap:

    5 000 000 USD

  • Total Token Supply:

    10 000 000 000MATIC

  • Tokens for Public Sale:

    1 900 000 000 MATIC (19.0000% of total token supply)

  • Public Sale Token Price:

    1 MATIC = 0.00263 USD

  • Public Sale Vesting Period:

    No lockup

  • Token Distribution

    Within 15 days after end of token sale

  • Accepted Currencies

    BNB

  • Token Sale Format

    Lottery

  • Max Number of Winning Lottery Tickets

    16 666

  • Allocation Per Winning Ticket

    300

  • Private Sale Token Price

    1 MATIC = 0.00263 USD

  • Private Sale Allocation

    1.7

  • Private Sale Vesting Period

    50% unlocked in the first month of TGE, remaining 50% unlocked in the seventh month

  • Seed Sale Token Price

    0.00079

  • Seed Sale Allocation

    2.09

  • Seed Sale Allocation

    50% unlocked in the first month of TGE, remaining 50% unlocked in the seventh month

Lottery Timeline

2019/04/01 11:00 AM (UTC): Begin depositing or purchasing BNB into your account. Users may also begin signing the Token Purchase Agreement.

2019/04/05 0:00 AM (UTC): User BNB balances are recorded at this time, and will continue to be recorded at 0:00 AM (UTC) each day for 20 days.

2019/04/24 0:00 AM (UTC): Final BNB balances in user accounts are recorded to determine eligibility to claim lottery tickets. The Token Purchase Agreement closes and cannot be signed after this time.

2019/04/24 8:00 AM (UTC): Ticket claim opens for all eligible users for a 24 hour period.

2019/04/25 8:00 AM (UTC): Ticket claim closes and the lottery draw begins.

2019/04/25 2:00 PM (UTC): Winning tickets are announced and the respective BNB will be deducted the winning users’ accounts within 24 hours. Please ensure you have sufficient BNB in your account to deduct if you have a winning ticket.

Lottery Ticket Allocation

Users will be able to claim up to a maximum of 5 lottery tickets based on their BNB holdings over the 20 days (represented by X below) leading up to the lottery draw date.

For example, 50 ≤  X < 200 means that your BNB balance over the entire 20-day period is kept at 50 BNB or more, but does not exceed or reach 200 BNB.

20-Day Minimum BNB balance (X) No. of Lottery Tickets
50 ≤  X < 200 1
200 ≤  X < 300 2
300 ≤  X < 400 3
400 ≤  X < 500 4
X ≥ 500 5

  • Legal Information

  • Company Name:

    Matic-Network India LLP

  • Country of Incorporation:

    India

  • Company Address:

    3rd Floor, Akshar Blue Chip IT Park, Turbhe MIDC, Turbhe Navi Mumbai (New Mumbai), India, 400705

  • KYC:

    Required

  • Restricted Areas:

    Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Cambodia, Canada, Central African Republic, Cote dIvoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Mainland China, Malaysia, Malawi, Mali, Mozambique, Myanmar (Burma), New Zealand, North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tanzania, Thailand, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA), Uzbekistan, Venezuela, Yemen, Zimbabwe

Team

  • Jaynti Kanani

    Jaynti Kanani

    Co-founder & CEO

  • Sandeep Nailwal

    Sandeep Nailwal

    Co-founder & COO

  • Co-founder & COO

    Co-founder & COO

    Co-founder & CPO

  • Siddharth Jain

    Siddharth Jain

    VP - Operations & Marketing

  • Bhavir Shah

    Bhavir Shah

    Head, Engineering

  • Vaibhav Chellani

    Vaibhav Chellani

    Blockchain Engineer

  • Ashish Rajpurohit

    Ashish Rajpurohit

    Blockchain Engineer

  • Arpit Agarwal

    Arpit Agarwal

    Blockchain Engineer

  • Sayli Patil

    Sayli Patil

    Application Engineer

  • Delroy Bosco

    Delroy Bosco

    Project Manager

  • Vishal Gupta

    Vishal Gupta

    DevOps Engineer

  • Nirbhik Jangid

    Nirbhik Jangid

    Community Manager

Advisors

  • Esteban Ordano

    Esteban Ordano

    Founder & CTO at Decentraland

  • Pete Kim

    Pete Kim

    Head of Engineering, Wallet at Coinbase

  • Ari Meilich

    Ari Meilich

    Project Lead at Decentraland

Initial Offering News