Key Notes
- Polymarket is on the verge of launching its native token, dubbed POLY.
- According to Matthew Modabber, the company’s CMO, an airdrop distribution model will be adopted.
- Polymarket is gaining traction amongst investors with VC funding.
Polymarket, a top prediction platform, is preparing to launch a native token with the ticker POLY.
According to the firm’s Chief Marketing Officer (CMO) Matthew Modabber, the launch of the POLY token will come with an airdrop.
It is worth noting that Polymarket has been gaining significant traction among investors in recent times.
Polymarket Investing Effort and Time Into POLY
As revealed by the CMO, Polymarket has plans to launch a native POLY token which will be followed by an airdrop.
This comes on the heels of the broader prediction market’s trading boom and the rise in investors’ interest. At the beginning of October, Shayne Coplan, the company’s founder, hinted at the possible launch of the POLY token.
On October 23, Modabber confirmed this information during an interview on the Degenz Live podcast. He claimed that Polymarket carefully took its time before talking about the launch of POLY because of how thorough the team wanted to be about it.
The CMO claimed that the focus of the platform is to push out a token with true utility and longevity, adding that they plan to have POLY around forever.
“That’s what we expect from ourselves, and that’s what I think everyone in the space expects from us,” Modabber said during the interview.
Polymarket Prioritizes US App Launch
Another reason why Polymarket refused to rush the roll-out of POLY is its focus on its United States app launch.
“Why rush a token if we need to prioritize the U.S. app, right?” Modabber said. Last month, Coplan confirmed that the platform received approval to go live in the country again. This is after three years of halting operations in the region due to regulatory uncertainty.
Much attention will be given to the token launch once the app’s debut in the US is out of the way. Notwithstanding, crypto enthusiasts have already begun to discuss the possible distribution of the POLY token.
Some have suggested that the airdrop will be allocated based on trading volume. This means that the most active users on the platform would bag the largest share.
Meanwhile, evidence of Polymarket’s traction among investors is the Intercontinental Exchange’s (ICE) $2 billion investment in the platform.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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Source: https://www.coinspeaker.com/polymarket-token-speculations-cmo-confirms-incoming-poly-airdrop/
