What is Polygon backed by?

I'm curious about the underpinnings of Polygon, as it's gained quite a bit of attention in the cryptocurrency space. Could you explain what, if anything, Polygon is backed by? Is it simply the trust and adoption of its users, or is there a more tangible asset or system that gives it value and stability? Understanding the foundations of Polygon's value proposition is crucial for me to evaluate its potential in the long-term.