🎉 OpenSocial has just secured $6.00M in its latest funding round! 🎉
🔹About: OpenSocial is a multichain SocialFi infrastructure developed by Everest Ventures Group. It provides scalable and composable protocols for Web3 users, creators, and developers. The project integrates social functionalities as an enabling layer across various use cases, promoting emotional and financial engagement. OpenSocial supports modular, codeless deployment on multiple virtual machines, enhancing the multi-chain social economy with flagship decentralized applications (dApps) and a robust developer community. The OpenSocial Protocol (OSP) enables developers and creators to build their own social dApps, including features like social actions (posting, reacting in text, image, audio, video, or polling), feed, and chatrooms. Founded in 2023, OpenSocial aims to empower community dApps with infrastructure, true ownership of intellectual property, better-aligned monetization, and financial incentives 🚀
🔹 Lead Investors: Framework Ventures, OKX Ventures, Animoca Brands, SNZ Holdings, Sandeep Nailwal and many more.
🔹 Total Raised: $11.00M.
🔹 Project Category: SocialFi, Web3.
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Polygon is advancing its network through its 2.0 roadmap to strengthen its zero-knowledge-based layer 2 chains ecosystem. Scheduled for September 4, the upgrade will transition the original MATIC token to POL tokens on the Polygon proof-of-stake (PoS) network.

Launched on October 25 alongside the Ethereum contract for POL tokens, this upgrade aims to enhance the functionality of Polygon’s native token. It will facilitate support for a diverse array of aggregated blockchains, referred to as AggLayer, within Polygon’s expanding network.
Polygon Prepares for POL Token Mainnet Migration
Ahead of the mainnet migration scheduled for September 4, the POL upgrade commenced on the Polygon testnet on July 17. This period allows the community approximately six weeks to identify and resolve any potential issues.

Transition from MATIC to POL Tokens: During the initial phase, POL tokens will replace MATIC as the native gas and staking token for the Polygon proof-of-stake (PoS) network. The Polygon community anticipates significant advancements with the new POL token, aiming for a “future-proof” native asset.
Expanded Role and Future Prospects: According to current community consensus, POL is expected to play a crucial role in the upcoming Polygon staking hub set for 2025. This includes responsibilities such as block generation, zero-knowledge proof generation, and participation in Data Availability Committees (DACs), reflecting Polygon’s broader strategic vision.
Preparing for the POL Mainnet Upgrade
The recent POL upgrade on the Polygon testnet is aimed at helping users, developers, and infrastructure providers prepare effectively for the upcoming mainnet transition. According to the announcement, MATIC holders on the Polygon proof-of-stake (PoS) network will experience an automatic upgrade to POL tokens without requiring any action.

MATIC-POL upgrade view. Source: Polygon
However, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges will need to undergo a manual upgrade process. This may involve bridging tokens, updating smart contracts, or utilizing a migration contract, depending on the specific case.
Important Note on Wallet Settings: The announcement emphasized that users must update their RPC (Remote Procedure Call) settings in wallets such as MetaMask, Rabby, Zerion, etc. Failure to do so could result in wallets displaying “MATIC” instead of “POL” as the token symbol for the native gas token on the Polygon PoS chain.

Polygon Labs and TON Application Chain EVM Integration
Polygon Labs is actively collaborating with the TON Application Chain (TAC) to introduce Ethereum Virtual Machine (EVM) functionality into the TON ecosystem.
On July 9, TON Application Chain and Polygon jointly announced the integration of Polygon’s Custom Development Kit (CDK) and the interoperability protocol Agglayer. This integration aims to enable the deployment of EVM-compatible decentralized applications (DApps) on the TON Application Chain platform, facilitating greater interoperability and functionality within the TAC

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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Hello and welcome to my  technical analysis of the MATIC/USDT trading pair.  Currently,

MATIC is trading at $1.27

Based on the chart analysis, it appears that the ascending trendline has broken down, indicating a  bearish trend in the short term. 

Moreover, the high time frame (HTF) ascending trendline support has turned into resistance, and $1.30 is the current  resistance level.

Thus, it would be wise to wait for confirmation before opening any trade. 

If the price falls below the recent low of $1.193, then we can expect the price to drop further to around $1

However, if the price breaks upward at $1.35, then we can expect a  bullish trend .  It is essential to keep an eye on the  support and resistance levels, with the support levels at $1.07 and $0.90 and the resistance levels at $1.35 and $1.52  Additionally, the  RSI is not in the overbought area. A good entry point would be when the  RSI hits below 30

In conclusion, it is important to make trading decisions based on confirmation and not blindly.

If you found this analysis useful, please like, share, and follow me for more quality updates.

Thank you.

Regards:- 

CryptoPatel

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