- MATIC’s price has undergone a massive downtrend.
- Polygon has launched a $2 million bounty program on Immunefi.
- The Payouts directly handled by the Polygon (MATIC) team.
Polygon, which also known as Matic Network, aims to facilitate various tools to increase the speed and lower the cost and complexities of the transaction on blockchain networks. In the past four days, MATIC’s price has undergone a massive downtrend. And it had found the solution for temporary relief.
Accordingly, if the traders step into the new program then MATIC may experience a minor rally, or else if failing to do so MATIC price might fall very low.
Furthermore, Polygon has launched a $2 million bounty program on Immunefi. It provides smart contract security through bug bounties. Immunefi found to be the world’s best and premier bug bounty platform.
This launch from Polygon comes as millions of dollars are being lost to accomplishment due to buggy smart contracts and unaudited codes in the Decentralized finance (DeFi) ecosystem. Henceforth, the Polygon team wants to make sure it does not undergo these troubles and problems and is aggressively offering around $2 million in rewards.
More so, the main focus of the bug bounty program is on smart contract bugs. The Payouts are directly maintained by the Polygon (MATIC) team and are denominated in U.S. Dollar (USD). Eventually, payouts made in Ethereum (ETH) and Polygon (MATIC) or a stablecoin, at the choice of the Polygon team.
Current Market Staus
According to CoinMarketCap, MATIC’s price is trading at $1.14 with a 24-hour trading volume of $1,249,813,067. In the last 24 hours, MATIC dropped 2.56% and in the last 3 days, MATIC decreased roughly 30%. On a note, the current support level provides a stable platform for the traders or buyers to come back.