One of Mark Cuban's websites has revealed that he has backed Polygon, a cryptocurrency that aims to transform Ethereum into a multi-chain ecosystem with secured Layer 2 chains.
Cuban has confirmed the news to Coindesk in an email where he said that he found himself using Polygon more and more, "I was a Polygon user and found myself using it more and more". Cuban also mentioned that he will be integrating Polygon into Lazy.com, which is one of Cuban's companies that allows users to show off their non-fungible tokens (NFTs).
However, Cuban did say, "Having more TPS and lower gas fees is not enough. There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful." Polygon recently saw its user-base grow exponentially as investors are avoiding the painfully high gas fees that come with trading on the main Ethereum network.
Cuban says that the fast growth of the user base was one of the things that made Polygon stand out when compared to other second-layer scaling solutions. "It is fast, it works well, and most importantly, their user base is growing exponentially."
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