Home

Beginner

• Overview of Reddit Community Points
• What does the user flow look like?

Technical Understanding

• Setting up the repository locally
• Performing benchmark testing
• Testing results
• Understanding Matic's architecture
• Fast Exit: Understanding Liquidity Provider and Interest Rates

FAQs

• Plasma

  • What is a Plasma framework?

    Plasma is a framework for building scalable decentralized applications. It was proposed by Vitalik Buterin and Joseph Poon to tackle Ethereum’s scaling needs. There are many different flavors of Plasma, namely — MVP(Minimum Viable Plasma), MoreVP, Cash etc. Matic's implementation of Plasma is Account based MoreVP.

    Read more here

  • Why did Matic choose Plasma?

    The main design consideration being — not everyone needs to process every transaction on the blockchain. Matic's Plasma follows a model similar to Plasma MoreVP, but is an account-based implementation compared to the other UTXO-based implementations. The sidechain is EVM-compatible

    What this means for the developer is, the experience they are already familiar with on Ethereum is what they can use to start building on Matic. 🚀

• Exiting from Matic

  • How can I get my asset on Main chain?

    To exit from Matic requires burning the asset on Matic and submitting a proof of this burn on Main chain. Read more here

  • What is burn proof?

    Burn proof is the proof of non-existence of the asset you'd like to withdraw on Ethereum. It is the transaction receipt of burn transaction of the asset on Matic, which is decoded and checked on Main chain before getting the asset on Main chain.

  • What is an ExitNFT?

    When a user submits and successfully confirms their exit on Main chain, they receive an NFT representative of the amount they are withdrawing. This exit NFT can be traded for instant exits (read: What are Fast Exits?) or can be used to process their exits and receive back the token after the waiting period (challenge exit period) is over (next question explains about this period).

  • What is a Challenge Period?

    A challenge period is a period of time in which people can challenge the validity of the exit by proving that the asset burnt is valid or not. Users can prove a fraud exit by revealing another transaction. Read more about MoreVP exits here.

  • How long is the challenge period?

    The challenge period is 7 days on Matic Mainnet and ~5 minutes on test network (Mumbai).

• Fast Exits

  • What are Fast Exits?

    It is possible to bypass the 7 day Challenge period by swapping the ExitNFT for your asset (paying a small amount of fee) from a liquidity provider on the Main chain. Read more here.

  • What happens to the swapped NFT?

    The liquidity provider becomes the new owner of the exit NFT swapped by the actual user. After the 7 day challenge period, the liquidity provider can exchange this Exit NFT to get the equivalent tokens represented by the exit NFT

  • What is the incentive for the Liquidity Provider?

    The liquidity provider charges an interest in return of letting the user bypass the challenge period. The liquidity provider waits for the 7 day period and then finally receives the actual amount of tokens without any deductions. For example, If the user withdrew 100 tokens from Matic chain, then after submitting the withdraw proof, the user gets an exit NFT token that he swaps using the fast exit mechanism. But the user receives just 99 tokens(considering the interest rate to be 1%). The liquidity provider who is now the new owner of the exit NFT can wait for 7 days and get the 100 tokens to their address.