Matic Progress Report - Phase 1b

Matic Phase 1b: Supporting ERC20 Tokens

After enabling basic transactions such as moving $MATIC tokens, which is the native token of the Matic sidechains, and being able to sign transactions and to deploy contracts, we moved on to the next part of phase one, which is enabling ERC20 transfers.
Our wallet users are now able to see ERC20 tokens and can transfer them to any Matic address.

ERC20 in the wallet interface

If your ERC20 token doesn't appear or you are struggling to deploy your own ERC20 token on the Matic chain, feel free to contact us we are more than happy to help.
Below is a screenshot from the Matic block explorer, identifying our Test Token as an ERC20 token.

ERC20 token visible in the Matic block explorer

In the video below, we show our support for the Ethereum ERC20 standard on the Matic sidechain. The implementation also includes sending tokens to any email address. All the functionality you see in this video is also available to developers via APIs. If you are interested, feel free to reach out.

Our platform is designed for developers and built for businesses. Every functionality we release and support in our frontend is also available to developers, including executing ERC20 transactions on Matic.

Matic ERC20 API docs

About Matic

Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains. It provides a solution for faster and extremely low-cost transactions with finality on the main chain.
The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 216 transactions per block, and possibly millions of transactions on multiple chains in the future.