Polygon Backs SuperLayer to Raise $25M in an Investment Round

SuperLayer has secured $25 million in a just concluded Web3.0 funding round led by Ethereum (ETH) scaling solution, Polygon. The Vice President of SuperLayer’s marketing department, Tony Pham revealed on Thursday. 

Interestingly, the $25 million generated will be used to develop additional Web3.0 products as well as enhance investment in more projects which users will rapidly adopt. Also, SuperLayer’s unique operating model will be expanded with the use of this fund.

Polygon recorded a massive growth despite the crypto winter, drawing on its position as an inexpensive layer-2 scaling protocol for ETH blockchain. It offers incredibly cheap transaction fees in the face of increased congestion and high rates on the Ether network. The Polygon enhanced functionality provides it more capacity to take on more projects as the demand for a highly scalable network rises. 

Much to the benefit of both the users and the developers, Polygon reduces the load on the network for much of the industry and creates a more sustainable path forward for Web3.

In addition, Polygon’s focus on providing innovative solutions that are designed for more scalability and speed makes it a good and natural partner for SuperLayer which is equally focused on speed as well as quality. 

With the Polygon technology, crypto projects like SocialFi, GameFi, non-fungible tokens (NFTs), and decentralized finance (DeFi) can reach their full potential. Ecosystem congestion and gigantic cost which are both barriers to user adoption are reduced to a large extent.

SuperLayer Looks Forward to More Web3.0 projects With Polygon

Based on a statement by Tony Pham, “The anchor fund investment from Polygon provides us with additional opportunities to expand and strengthen SuperLayer’s ecosystem of projects, partnering with founding teams on development, design, and the fundraising required to scale projects that meet the needs of consumers around the world.”

As part of the perks of this deal, there is likely going to be the onboarding of a crop of companies that will provide Web3.0 accessibility to a mainstream audience. This is just the beginning for Polygon as there are plans to launch many more similar projects in the ecosystem. 

Tony Pham went further to point this out when he said, 

“We will continue launching projects with quick go-to-market strategies, ecosystem sustainability, and interoperability in mind. This strategic partnership with Polygon will allow us to continue delivering Web3 projects to communities while helping an entire ecosystem of dApps work together.”

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