MATIC

Davinter30

Poor performances lately for sure, but why say that now ? Many coins are down more than AVA today.. SOL, AVAX, DOGE, ARB, OP, DOT, MATIC, RNDR to name a few

purplecowz

This is cool. But since it's USDC, will this have any impact on SOL, MATIC, or ETH coins?

Amazing-Ad-8239

Biggest words of advice are to DCA. Buying into BTC and ETH now while the price is high is fine, just as long as in the future you DCA at a lower price. Even in saying that though, BTC and ETH are still yet to make their new ATH. If you want safe and good investments, you should always consider coins that have survived the bear markets which actually have use. Here's a list of a few: VET HBAR DOT ADA ALGO MATIC Yes these coins may not see the same gains as other newer coins on the market, but if you want to be safe, they'll be safer. Safe trading!

Outsider4Life9

I gave up on MATIC. Put it all in one CKB and have no regrets.

Amazing-Ad-8239

If you want an investment for a longer term investment (beside 40-50% of your wallet being BTC): VET AVAX DOT LINK MATIC ADA These may not pump like they did last season, just as an FYI. And there are so many more. I am currently considering getting into: PropC CFG OP Trade safe!

Token_Broker

According to your posts, you lost $20k on MATIC.....maybe buy $1 of VOTEDOGE since you're clearly ok with taking risks

Motzi2

Anyone experiencing issues with Metamask? I'm trying to send MATIC from the polygon mainnet, and it defaults to $0.00 gwei without the option to increase. It's making it impossible to send anything.

monoimionom

This bot will need to buy all the favorite coins from last cycle, like ADA, ALGO, XRP, MATIC, etc. Wonder how that will work out.

KateR_H0l1day

I swapped all my MATIC out, along with a few Alt’s that had done more than 7X and put everything into a couple of other Alt’s in my portfolio.

unforgiven990

it looks like the MATIC hype is cooling down. i still have a small bag and don't know if i should make a move or not. I've been reading some stuff lately and it seems that Base already has more users than Polygon and i think because it's because of this recent meme craze. i even succumbed to hype and bought some stuff. that ROCK meme looks pretty hilarious to me and they have some decent community to back it up. some crazy giveaways as well. when it comes to eth l2 solutions it all comes down to fees and congestion which Base currently isn't. I'm interested to see how long will it last.

IgnorantSmartAss

I'm definitely holding onto too much MATIC. It was just such a big player and obviously the most popular L2. But now i feel like I'm holding onto a dino-coin that'll never pump again. I've also got quite a bit of ADA, but with that project it seems like a classic that will always have a run-up in a bull-market.

probablychocolate

Good picks. LINK, ADA, XRP, VET, MATIC; crypto that did well last bull run have a high marketcap purely based on bagholders. If you have heavy holdings in anything like that then you were exit liquidity. Personally I’m bullish on AERO and a few low market cap gems that have already had multiple X’s and should see further gains. But some people are either married to their bags (XRP) or lack fundamental understanding of marketcaps (SHIB).

Ok-Western-5799

Download Binance or any CEX while you learn how to self custody. Go to Twitter, read about projects and always follow narratives. If I had 5000 USD, 3500 would be shared between BTC ETH and MATIC while 1500 would go into BONUS, NAKA, RIO, and CORE

Cathie_D_Wood

What’s everyone favorite Layer 2 on ETH for this cycle? ARB, OP, MATIC (Soon to be POL) etc

DebianDog

Same. As of late CB has gotten better all around supporting L2 chains like MATIC, OP, etc. [Binance.US](http://Binance.US) is not horriable but you can no longer come out to real USD. Tokens only

C-Class_hero_Satoru

My poor MATIC is only going down

IndependenceFickle95

Good, since MATIC is one of my top holdings.

NICE_JJAK

$MATIC - it has a great price now and the potential to even 10x this bull run. NFA

BingohBangoh

MATIC Is a dino coin? lol

apstl88

I guess it depends on the project. I don't believe that all alts will hit their ATHs but some of them surely will. I strongly believe in Polkadot, still. I am watching some upcoming L2 projects and I'm into some well known oracles like LINK and DIA (it was below $0.30 until recently), DeFi won't be the same without them. ADA, MATIC, TRX... I believe all will be back near or past their ATHs.

Phillip1219

BTC, AVAX, MATIC, NEAR, DOT, ADA. AVAX is a long term play, I see it breaking $100 one day again

Zujani

95% ETH 5% VET, going to get more alts. Recommendations? MATIC, ARGO, DOT, ADA, LINK are frontrunners

justanotherzee

FET, TIA, MATIC, SEI, ADA, DOT are memecoins to you? Every top 10 alt fell 50-60% since last week. Open your eyes.

jwz9904

ADA/DOT/MATIC the big 3 of pain

skonnypete

If you're talking long term, fundamental sort of buys NGL Ethereum and Eth L2s, they still have the liquidity and capital and Eth itself will keep developing - Solana might be a good short term but it's only used for shitcoins and nfts, and has major centralisation and reliability questions - gambling. It's difficult to imagine any particular "eth-killer" actually killing Eth because why would you? Eth works, sets the token standards, has the best dev tooling, has plenty of liquidity etc. The only problem Eth has is tps and gas, but big (institutional/hnw) money doesn't care and they'll fix that like they have many times before - and if it's still too high use an L2. So personally id keep most of it in Eth ecosystem - you never know maybe near or manta or something really scales up but I doubt it. Whenever a new defi primitive (eg RWAs are going to be huge the next few years - bet you the biggest players will be on Eth) actually takes off, it happens on Eth first then everyone copies. Until that stops happening I'm sticking with my Eth, MATIC, Link etc - actually useful tokens basically for the long term. Projects like rootstock building smart contract systems on Bitcoin might take some Eth market share because they can have legit bitcoin (no custodian issues) but I doubt it - makes 0 sense to use bitcoin to run smart contracts when Eth exists Just my probably wrong opinion:)

kingule1977

How about MATIC?

newkidontheblock76

First of all, you are not alone on this boat. You are much better than many, because you ask and you will learn. However, call down. Cool mind is necessary. I agree with many: Around 70% of my portfolio is on BTC and ETH (however, I have more of the second). Then, another 20% in quite solid altcoins (among the first 20 - for exampel, NEAR and MATIC). I play around with the rest. Actually, one of my best hits this last month was Fetch.ai. I discovered the project early, and I did 300% out of it. I use the few dollars I gain from coinbase learn to try out completely insane projects... not my money, so I use them to gamble.

Sgt_Beef_McSwag

its all down by 50% if you look at a timeframe of about 3 months (i compare with e.g. SOL, MATIC, LINK, DOT and so on) so thats about alright.

NotEnoughProse

I'll let you know. I'm on my second cycle. First cycle got in at the last-minute prior to the bull run. Rode several coins all the way up—then helpless watched it all crash back to -80%. And lost the remainder in Celsius. Basically, made very horrific mistake. Started fresh in late 2022. I'm all in. Hoped to shave a little profits at $75k. After this weekend, I'm mad at myself that I didn't. But I'm still up 50% on my total portfolio, thanks to loading up on ETH at $1700 and BTC at $19,000. (My MATIC bag is KILLING my gains.)

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by a deleted user. > ####**Has plenty of competitors, including itself** > > Currently, Polygon PoS is competing against optimistic L2 blockchains like Arbitrum One and Optimism. Arbitrum has nearly [2x the TVL as Polygon](https://defillama.com/chains), and Optimism has almost caught up. > > Polygon's future zkEVM rollup is also competing against other zkEVM rollups. Once its zkEVM is released, it's possible it's going to split the Polygon community between those who want to stay on the sidechain and those who want to use the zkEVM. **If you look at their [zkEVM testnet](https://explorer.public.zkevm-test.net/txs?block_number=143530&index=0&page_number=1&page_size=50&pages_limit=200), fees are paid in Ether, not MATIC.** That's bearish for MATIC token utility. > > **TVL has dropped considerably compared to L2s** > > One year ago back in Jan 2022, [Polygon TVL was $4.8B USD](https://defillama.com/chain/Polygon) while the combined [Layer 2 rollup TVL was $5.4B USD](https://l2beat.com/scaling/tvl). While L2 TVL has increased a little despite the bear market, Polygon's TVL has collapsed by 75% to $1.2B. > > **Growing dApp competition from L2 rollups** > > A year ago, Polygon PoS was unique in that it was the only network besides Ethereum that had OpenSea support. Now OpenSea supports a dozen different networks, including competing Layer 2 rollups networks like Optimism, Arbitrum One, and even Arbitrum Nova. So there's a lot more competition. > > **Declining social media support** > > With L2 rollups developing so quickly, many in the Ethereum community have turned against Polygon, creating a narrative that it's "just a sidechain", not a true Layer 2. > > The 0xPolygon subreddit has become more of a ghost town with noticeable amounts of spam posts. I don't think its mods are checking regularly anymore. > > ####**Less resistant to DDoS attacks and spam** > > Like all networks with low transaction fees, it's at risk of DDoS attacks. > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **It has a Gas Cartel** > > Spam attacks were eventually mitigated when the whole Polygon validator community chose to [lock priority fees at a 30 Gwei minimum](https://cryptoslate.com/polygon-matic-to-raise-gas-fee-to-30-gwei-to-prevent-spam-transactions/). That's not an offical part of protocol. Polygon validators have colluded off-chain and are running **gas cartel**, like OPEC. > > However, it still gets tons of spam transactions, which I have experienced first-hand many times. All my Polygon accounts with activity on them were randomly sent spam tokens and NFTs. Many of these tokens are part of scam that try to trick you into interacting with them by selling them. Other are advertising sketchy website links. > > This is the downside of having sub-penny transactions. > > ####**Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. Many parts of Polygon still require Ethereum and pay fees in ETH instead of MATIC. OpenSea's NFT are usually quoted in ETH instead of MATIC. The MATIC token its originates on Ethereum and is bridged over to Polygon PoS as an ERC-20 token. Staking is also done on the Ethereum mainnet. The periodic Polygon checkpoints require paying Ethereum fees too. > > Thus Polygon's success depends on Ethereum's success and security. > > Going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which costs Ethereum gas fees. The first time bridging over to Polygon can be stressful. Their documentation says it should only take [22-30 minutes](https://wiki.polygon.technology/docs/develop/ethereum-polygon/getting-started/) when it often takes many hours as many people including me have found out the hard way. > > ####**Numerous reorgs** > > Polygon has [multiple reorgs every day](https://polygonscan.com/blocks_forked). Many of these are of 10+ depths, which is dangerously high. Due to reorgs, transactions up to 32 blocks ago can be completely reversed. In fact, up until the Delhi update (Jan 17, 2023), it was common to see reorgs up to 128-blocks ago (5 minutes). After the update, this has been reduced to a max of 32 blocks (1 minute). That's better than before the update, but it's still a lot. The reason behind this unique and dangerous Polygon phenomenon is due to the validator sprints that it uses on the Bor block production layer. [I wrote a separate article to explain this phenomenon](https://mplankton.substack.com/p/polygons-block-reorg-problem). > > Even after the Delhi update, there was still a massive [153-block reorg in Feb 2023](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/) and multiple-validator outage caused by an unrelated bug. > > ####**Centralization concerns** > > **Pausable tokens** > > The [MATIC token contract](https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0#code) is pausable. There is a private list of addresses (stored in the "_pausers" private role) that can unilaterally pause the entire MATIC token without needing any other members to approve. > > **Centralized control of Polygon contracts on Ethereum mainnet via its Multisig owner account** > > At any given time, Polygon can update its contracts using this Multisig Gnosis Safe, and it has already done so **40 times in the past year** and 170 times in the past 2 years. That's a lot of unannounced updates. > > It does this through a [5 out of 9 Multisig Gnosis Safe](https://etherscan.io/address/0xfa7d2a996ac6350f4b56c043112da0366a59b74c) (often misquoted as an 5 out of 8 Multisig) that controls all of Polygon's contracts on Ethereum (e.g. Plasma Bridge, PoS Bridge, Staking Contract, Governance Proxy, Ether Bridge, Root Chain Proxy, Polygon-to-Ethereum token mapping, and many other contracts). 4 of these owners are Polygon members, 4 are external DeFi users, and 1 is an unknown account (possibly the owner of Quickswap). > > **[My own investigation](https://mplankton.substack.com/p/investigating-the-59-polygon-multisig) discovered that this MultiSig account is one of the worst-documented parts of Polygon**: > > * Every media site, blog, and forum to this day still thinks it's an 5/8 Multisig based on an old letter back in May 2021. The fact that no one has mentioned the 9th owner (added 2 years ago) is a strong sign the public isn't actually auditing the Polygon admin actions on that Multisig contract. > * A 9th owner was added back [in June 2021](https://etherscan.io/tx/0xb02b91300e3cea5bb788513cd858f27f27410b3bc67b8e12dca10944b4d611c8) **unannounced**. An additional 2 Polygon owners were swapped in the past year **unannounced**. > * [Back in Aug 2021](https://etherscan.io/tx/0x9eca1e21c66d7a30bfb69dedb0857314cf7ed127d149328d518678f7e22fbdb9), ownership of all Polygon's contracts were replaced by a [TimeLock contract](https://etherscan.io/address/0xCaf0aa768A3AE1297DF20072419Db8Bb8b5C8cEf). This Timelock provides an acceptance window where any action on Polygon's contracts has to wait 48 hours before it takes effect. The Timelock is in turn controlled by the 5/9 Gnosis Safe account. > * Polygon's websites, forums, Discord channel, and subreddit don't mention the Timelock. > * **Even Polygon's own documentation team is unaware of the Timelock.** There is [one document that mentions the Multisig address](https://wiki.polygon.technology/docs/faq/commit-chain-multisigs/) suggests that a Timelock is a future update, when it's actually already active. > > ####**Upgrade process is centralized** > > Polygon Labs controls the upgrade process through centralized governance. > > Back in Dec 2021, the Polygon team [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > In Jan 2023, the **Delhi Hardfork, PIP-7**, was voted on by only [15 out of 100 non-dev validators](https://forum.polygon.technology/t/pre-pip-discussion-addressing-reorgs-and-gas-spikes/10623). The vote was only used as non-binding feedback, so Polygon Lab devs still maintained real control over the upgrade. > > In Feb 2023, there was a client bug that caused [a multi-validator outage and 153-block reorg](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/). Due to the outage and slow syncing where many out-of-sync validators were taking up to a day to resync, many of them were missing their 98% checkpoint SLA requirements for staying on as a validator. As a result, the Polygon team pushed **an emergency proposal, PIP-9**, to reduce the threshold back to 95%. In less than half a day, it passed and was activated. Even over 4 days, only 27 out of 100 validators had voted on it. > > **Future decentralized governance** > > It's been over a year since Polygon posted they were looking into [Governance Decentralization](https://blog.polygon.technology/state-of-governance-decentralization/). It wasn't until only Feb 2023 that they started the first steps towards decentralized governance via [PIP-1](https://forum.pol... ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

ioWxss6_bot

All is fine with MATIC. You started talking about MATH in your first reply 😂

curr3nzy

MATIC … who’s talking about MATH?

SafeRecommendation55

ONE, LUNA, "a litte bit of MATIC" LMAO....

emailemile

Do I sell my SOL and MATIC now for BTC or will it pick up again soon?

Cathie_D_Wood

with ETH is upgraded to be fast and cheap as it now, what exactly are the point of layer 2s like MATIC? not trying to trash Polygon just trying to get perspective

KateR_H0l1day

I regularly buy the dip, have many coins and often I’ll buy quite a few, but can buy very regularly at ~$10. I also realized buying bigger amounts you actually get less coins, at least where I’m buying! Today’s been a good buying day, yesterday swapped all my MATIC out to a dip, it wasn’t much but that’s me finished with MATIC for this Bull. Interesting that FER, leapt over 200%, sold it all to USDC, then CRO/KSM & Helium Mobile dropped over 12% So, bought with the MATIC sale into those three in the last hour, CRO & KSM both staked and here we are again. Back to watching for dips 😂

Phillip1219

Also buying the dip. Got more AVAX, some ADA and MATIC.

remnantdozer

Don’t invest more than you’re willing to lose. It’s easy to get caught up in “Oh no, I’m down 20% and idk if I should sell to avoid more loss”, but if you invest in cryptocurrencies that have been around for awhile (BTC, ETH, XRP, DOT, MATIC, etc.), there is a solid chance they will go back up in value. However, be careful with the thinking that certain cryptos will return to their ATH.

NotEnoughProse

Good lord, my poor MATIC. Is it possible for an RSI to go negative?

jventura1110

Also, decentralized =/= direect democracy. MATIC is a republic, like most networks, and you delegate your vote to a validator. The validators voted on this proposal and it passed. For simple hodlers, a 'no' vote would have been delegation to a validator that is voting no, or divestment.

jventura1110

The vote was only open to validators, and happened through their proposal system, which starts a vote on their validator discord channel. As a MATIC holder, you don't have voting rights, instead you delegate to a validator. It's sort of the same across the entire crypto space. With BTC, nodes decide what upgrades they support through signaling, your BTC means nothing unless you have hashpower to go with it. With ETH, there is no voting or even signaling, instead client teams and nodes can individually refuse to implement an upgrade (thus hard forking). Your ETH means nothing unless you have influence over a client team, or operate a node. Crypto decentralization does not mean a direct democracy. It's generally a republic (through delegation). Or vote by non-participation (don't upgrade, hard fork). In your case, as a simple holder, it's divestment.

TabletopThirteen

Yup about 75% of my transactions are failing the last couple weeks and I still am losing the gas. Nice chain. I see TON, AVAX, and MATIC overtaking Solana in the next year. Solana just can't handle the heat until they upgrade their chain to be better

3sides2everyStory

> What are your thoughts about ETH/Alts/Altseason? I try to form my opinions on data as best I can (I'm just a dope on the internet) and my opinions on ALTs usually conflict with the tribal wish-casters and cult members in this sub. I think ALT season will happen as expected but I think it will come with a lot of surprising disappointments. I think a lot of the ETH Alts will disappoint this cycle. I also think a lot of the big, promising names from past cycles will disappoint as well. We're 15 months off of the cycle bottom and into the uptrend. If an ALT is still 85-95% away from it's ATH I expect it will struggle at best. I sold most of my big-name alts a while ago. I hold a fair amount of ETH but I've been shrinking my position (I do a lot of pair trading). I'll hold a good amount of ETH because it's a safe bet to go up. But ETH may take years to realize its promise. The fact that it requires L2s makes it complicated and problematic. It's expensive and cumbersome to use (I fucking hate using it). It may get better someday but my money won't wait around. I follow the users and the money flow. For all of its problems, Solana is winning the users and earning revenue. It's also getting the attention of big players because of usage metrics. I Hold ETH and a good amount of SOL but SOL's market cap is only about 20%-ish of ETH's. That gap will close simply because of usage metrics. They will both go up but I think SOL will do better on a percentage basis. I pair trade between ETH/SOL to increase both positions and at some point, I'll probably swap all or most of them for BTC. I'm not loyal to any investment. > Do you think that BTC combined with the ETF'S will dampen their price appreciation? I think the vast majority of people buying Bitcoin ETFs are not interested in ALTs. They want digital gold as a store of value. BlackRock's customers don't know or care about ALGO, ADA, LINK, MATIC, etc.. Different users, different investors. Larry Fink says his customers' interest in Ethereum ETF's are significantly lower than Bitcoin ETFs. If Ethereum ETFs do get approved I expect ETH will pump but the impact won't be the same. TLDR; I think ALT season will pump as expected with some surprising disappointments. This cycle I'm concentrated in BTC, ETH and SOL. I pair trade between them to grow my stacks. When the market gets frothy I'll swap most everything into BTC and cash, and buy the dips during the next bear. I do my best to follow the data. My money isn't loyal to any coin except Bitcoin

0x456

Wen MATIC to POL migration?

HSuke

Eventually with full danksharding (not just Dencun), Polygon PoS and validiums may go extinct. Though maybe not Polygon for another reason: they're creating a cross-chain Agglayer protocol that will help with cross-chain composability. L2s and side chains also hold their native tokens on Ethereum itself, and it is bridged over to the L2/sidechain. (All MATIC is on Ethereum as an ERC-20 token, and the MATIC on Polygon PoS is a bridged version.) This allows for users to exit the L2s back onto L1 in case of failure. While you could use ICP to store rollup data, Ethereum doesn't have a way to read that data without an oracle.

ZodiacManiac

Damn I was staking MATIC and just got $6,500 airdrop from SAGA… it must be all a scam. Chill and read this… https://polygon.technology/blog/polygon-2-0-tokenomics

excubitor15379

What's in ur opinion biggest dissapointment coin that was sth last run: ADA, MATIC, DOT, XTZ or ATOM?

HSuke

This was announced a year ago, but it was obvious this was always going to happen. MATIC follows the same tokenomics design as Ether. Both use the same burn mechanism. Both use EIP-1559 Both have the same fee schedule (e.g. 21k gas for native token transfer, 2k SLOAD, 20K SSTORE etc.) The only thing that never made sense was the artificial supply cap for MATIC, which everyone following Polygon protocol closely already knew was going to be replaced. MATIC is a utility token there meant to be used as gas. It's not an investment and not a Store of Value token.

SolipsisticEgoKing

You don’t need to do anything. The migration will occur automatically. Beware of scams that look like legitimate guides on how to migrate. They want to steal your MATIC.

HSuke

That was 100% predictable for every max-supply cryptocurrency. In fact, I predicted that for MATIC 3 years ago, and ALGO is next. Even BTC will likely need tail issuance in the distant future to fund a minimally-viable security budget.

TexasBoyz-713

Might just pull out all my MATIC and toss it into a meme coin.. feeling gambly lately

sckuzzle

Are current MATIC token holders voting on whether to go ahead with this new funding plan? If so it doesn't sound scummy at all to me.

vice96

OP isn't concerned about what crypto can and can't be. MATIC was never meant to be a centralized crypto and they pride themselves on how decentralized it is (like majority of tokens out there). It's all marketing lingo. People are going to learn the hard way or the easy way (through previous experience or knowledge of these topics).

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by excalilbug. > Polygon is a side chain of Ethereum, a layer 2 solution. Solution to a high fees problem. But does it really solve it and is it really needed? > > ​ > > * **Congestion and vulnerabilities** > > When Polygon started to grow rapidly in 2021, it [experienced a network congestion](https://crystlfinance.medium.com/polygon-network-congestion-causes-and-solutions-71117b7711cc). Transaction fees skyrocketed and became very slow (they took several hours or even days to complete) > > But high demand isn't the only reason why Polygon might get congested. To achieve low transaction fees something has to be sacrificed. And this something is security. E.g. DDoS attacks are much more effective against Polygon than against ETH. Even unintentional DDoS attacks like was in the case of a game called Sunflwoer Farmers. Since the game used blockchain transactions for in-game actions, it completely congested the network > > But DDoS attacks and congestion problems are Mickey-Mouse-stuff compared to hacker attacks. Polygon was victim to probably the most famous attack in crupto. In August 2021 a hacker stole over 600 million worth of assets due to a [vulnerability between contract calls](https://twitter.com/PolyNetwork2/status/1425130017546149891) > > ​ > > * **It is not independent and it's centralized** > > As a layer 2 solution Polygon depends on Ethereum. So if ETH does something bad, Polygon will be hurt, too. But even if ETH does something good, polygon might suffer. How is it possible you ask? Well, one of the next steps on Ethereum's roadmaps is working on scalability and lowering gas fees. If one day ETH manages to lower fees while maintaining its security, polygon won't be needed anymore > > Polygon is also in competition with other layer 2 solutions. And it's probably losing it. While Optimism's and Arbitrum's total value locked keeps going up, Polygon's TVL went down > > The fact that concentration of large holders of the coin is [85%](https://app.intotheblock.com/coin/MATIC) also doesn't help (for comparison, it's 11% for [bitcoin](https://app.intotheblock.com/coin/BTC) and 39% for [ethereum](https://app.intotheblock.com/coin/ETH)) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

gigastand2749

Id recommend looking into some infrastructure projects Like COTI, maybe some AI projects like OCEAN or FET. I'm a fan of MATIC, ALGO AND ADA then maybe a sports linked token like CHZ dyor

Max-K-98362

Opinions: Set take profit amounts of 25%, 25% and 50% for $2, $3 and $4 for my ADA, MATIC and XRP bags. I’m looking to get out with some profit then reinvest into BTC in 2 years. Good price targets?

Yougetwhat

15k BTC 15K ETH 5k SOL 5k LINK 5K AAVE 1k OCEAN 1K THETA 1K ANKR 1K ARWEAVE 0,5K MATIC 0,5K CKB

Quirky-Lobster

Invest? BTC and ETH. Gamble? ADA, MATIC, ALGO. Best choice? Combination of both. 70/30 invest and gamble respectively.

inShambles3749

BTC, ETH are safe bets. SOL, ADA, MATIC, BSC maybe. Rest idk. Wouldn't bet on it tbh. Although I like Arbitrum. And Base is powered by Coinbase so that probably won't go anywhere unless Coinbase crashes. Hard to say

AdamFitri2005

MATIC and LINK are coins that should be doing good but are not

Creamysense

MATIC is the top 5 used chain..

Creamysense

Everything below MATIC needs to go

vinsanity_07

I sure hope MATIC gets back in the running

Macarius13

what about MATIC 2.0 ?

SquatDeadliftBench

Man, I am humbled by this response, which is the reason for my delayed response. > Grey ones seem to have died...or are something like MATIC where they changed the token to infinite supply and it received mixed reception. After all of my own research, which can mean nothing or a lot in this space since we are dealing with crypto which something new and not tangible, I think Matic is still worth investing in as it is a top 25 coin, has high trading volume, generally good ongoing development and maintenance of the chain, rarely experiencing any controversy or downtime, and has high public interest. If those are not persuasive, then I don't recommend it or others like it. > The blue highlights are unusual tokens that seem to continuously gain traction.....to be honest I don't understand why these remain strong. Should these be considered options for the bear market or would it be foolish to park assets in them? TWT is Binance's Trust Wallet Token. And Binance has every incentive to maintain, develop, and improve it. It is the reason why it has done so well, relatively speaking, against most other crypto during the Bear Market. LTC is just the silver to BTC. Pretty much everyone I know has some in their wallet. That is telling. Not to mention the huge community of developers. 100 percent uptime. Huge CEX interest (every CEX has it in their spot and leverage trading options). QNT can be explained by their about page > "We’re pioneers in distributed ledger technology and champions of interoperability. We provide financial institutions and enterprises with the right foundation to build the blockchain economy." They are actively trying to onboard financial institutions, working out of the UK, one of the financial hubs of the world. So this explains the ones in blue, for me anyway. > Did you look into the market since you made your initial investments? Absolutely. Everyday. It had a mental health toll on me. > I feel like since you did your research a couple of new projects with potential are starting to surface. I'm seeing a lot of projects appear on JUP, and Defi RARI seems attractive too. Honestly, I am personally done with new projects. For now. I have added them to my news feed and watch list but I have taken a break for now.

Phillip1219

If you’re in it for the long run now is a great time to buy. No one knows anything about the markets, but we can predict: BTC has been rallying, and so have some alts but many have not jumped much yet. I don’t think “alt coin season” has started yet. I also do not think we are in a true bull run yet. I see some big pumps coming during the summer time after the halving. May I also suggest you look into some other tokens with good use scenarios? Tokens like AVAX, SOL, Dot, MATIC I think still have ways to grow. Maybe even NEAR

Mundane-Size6847

As others have said, read, research, talk to people who have been in crypto for years and learn how to identify genuine projects. Embrace trendy narratives when social sentiment is booming on them (currently AI, depin etc) but always have an exit plan as bubble can burst overnight. My personal entry to crypto was: idiotically get swept away in crypto euphoria 2020/21 and buy Bitcoin at its peak on Coinbase. Obviously this was a classic newbie move so in the tail end of last bull market - feeling cheated as I hadn’t made a 100x on my Coinbase Bitcoin lol. - I hunted around BSC and uniswap for high risk high gain coins. I saw crazy gains on two projects, my first 10x but believed the garbage from the ‘teams’ that these coins were only going to keep growing. They didn’t, they died and I missed all this unrealised gains which would have really made a difference in my life. After this I decided to just look for genuine utility, blue chip projects and buy BTC while it is low. The bear market was good for this. Some of my plays have done a 4x from early 2023 and obviously everyone who was buying BTC in 2022 and 2023 and held has done well. Some of my picks have frustrated me - MATIC for example, but I still think it’s a good hold. I think it’s easy for someone new in the space to find these established projects a bit boring as some have stayed pretty much like stable coins in this pre bull/early bull, while other newer chains and projects have had crazy growth and profit. Often selling your bag and hopping to the new thing when it’s already trending and in the news means losing your position in something long term and buying in at the ATH of something with less longevity. Or maybe not… it’s the gamble. Avoid being swept up in meme frenzy etc unless you are happy to lose all your money. Even though I know this I get caught up in it… some kind of compulsive disorder I’m sure - or just pure greed 😂 A recent painful example - I spent two days trading memes on solana and polygon three weeks ago. Made $1200 profit and was super happy. I needed sleep and thought ‘fuck it’ and put profits back into both the coins I’d been trading. BTC crashed overnight as grayscale selloffs started and now I’m holding useless shit again and list some of my initial buy in too. So don’t do that if you do get lucky - protect your profits! Crypto can honestly feel to me like I’ve chosen to give myself adhd, stress and depression 😅 But stick with it and always keep learning, try to control emotions and impulses. But as you can see from my example it’s really hard to do this when everyone is screaming about how much money they are making. Good luck!

Outsider4Life9

MATIC, looking at price action, is dead 🥹

UncleFred-

Thank you for offering all this information. It was helpful in my own research. [I went through each one](https://imgur.com/a/wN8b6h7). Much of what you invested in still seems like good options (green highlight). Yellow highlights are projects that have already jumped 5x+. Grey ones seem to have died, and I've left a few out I'm opting to avoid as they have atypical long-term performance charts that I'm not comfortable with, or are something like MATIC where they changed the token to infinite supply and it received mixed reception. The blue highlights are unusual tokens that seem to continuously gain traction, even through bear markets. To be honest I don't understand why these remain strong. Should these be considered options for the bear market or would it be foolish to park assets in them? Did you look into the market since you made your initial investments? I feel like since you did your research a couple of new projects with potential are starting to surface. I'm seeing a lot of projects appear on JUP, and Defi RARI seems attractive too.

ckh27

Everyone is still completely broke from being scammed out last round by celcius and sbf, not to mention the shitcoin scammers. It’s just trashy scummy place that will never get mainstream adoption without regulation. Hate to say it it’s true. BTC ETH MATIC are the only plays imo.

PM_me_catpics

I won’t tell you what to buy, but I will tell you what I bought. Do your own research. 1. VET 2. HBAR 3. MATIC 4. XLM 5. WOO 6. BONK (just a few bucks for shits and giggles)

RefrigeratorLow1259

Meme coin season over, time to stack the dip with quality alts, ADA, MATIC, DOT...

jwz9904

ADA/DOT/MATIC, is it too late to sell?

vinsanity_07

Sheesh I averaged down to .91 unsure where MATIC is going. however it was still a great buy for anyone at .35

Handlermeister

This. MATIC & L2 solutions did very well 21/22, but there will be a lot of missed opportunities if you don’t continually research new offerings. A rising tide does raise all boats, but MATIC is ~$1 steady, pre-alt szn it was trading under $0.05. Even in alt szn, MATIC needs more reason to discover a price higher than previous ATH. Even *then*, you’re better off sticking with BTC unless you know of other coins/chains that are promising to >3x, because that seems about all that previously-skyrocketed alts offer. If you can’t see more than 3x on an alt coin, the risk might not be worth what you’d have if you just held BTC

Smiling_Jack_

Stablecoin market is looking pretty shacky right now. MATIC has been unpegged from $1 for several hours now. Hopefully Curve Finance keeps the contagion contained.

AdamFitri2005

MATIC,GRT and AVAX will have new ATHs

de_ninja

you can continue holding MATIC as you will always be able to migrate to POL later. No need to worry now. Also the price is always the same. If you hold your MATIC on an exchange, they will migrate for you at some point. If you hold your MATIC on the Polygon PoS network or have it delegated, no need to do anything either, as these will be migrated some time this year. If you just hold it in a wallet on Ethereum, you can swap MATIC to POL on kyberswap for example, they have the migration contract integrated, so you will always get the best price there.

hamiltons_libido

Been holding MATIC, ADA, and LINK for about 3 years. Hoping it pays off soon!

United_Lifeguard_41

I was speaking in terms of averages. Looking at mainstream alts like AVAX, MATIC, etc. Just making the point that we are just getting started.

Older_invester

50%BTC 25%ETH 20%MATIC/LINK 5%low cap altcoins

bradenlikestoreddit

It's decent. I started to DCA and buy into the larger, more "stable" coins more often. I threw a little at Solana for the hell of it when it was really down and that's my largest return (about 10x), but overall I'm up about 125%. If Polygon and Harmony (unlikely) have a resurgence I'd have a good return there as well. I'm pretty even with MATIC but down hard on ONE.

HarrisonGreen

Inverse r/cc is the real play. Almost none of r/cc's darling coins have done well so far, especially relative to BTC. ETH, ADA, MATIC, ALGO, DOT. Meanwhile, some of the most hated coins in this sub, like SOL, BCH, ICP and AVAX go on to become excellent performers.

Medium_Change4574

MATIC BTC pair made a new low now being at April 2021 levels..

Smiling_Jack_

MATIC still holding that $1 peg. Very impressive.

sedplas

I remember reading through the similar posts last time around and ending up with bags of LUNA, ONE, LRC, SOL, ATOM, MATIC. All seemed lile reasonably good projects, They all made sense untill they weren't. I am back in green on SOL just recently, after 3 years. All the rest are red.

lukekibs

Setting up some crypto bag goals to grind for in the coming years: 10k DOT staked 10k MOONs 10k DIMO mined 1k BAT mined 100 million BONK (possibly even more depending on the price action. 1B coins would be cool) 1k MATIC just from cashback rewards basically and a small initial purchase 1k Pi mined (just for shits and giggles) Let me know what I’m missing

Joeyfishfingers

Sol and MATIC break Algo never breaks Algo is what the stock exchange will be built on

Captain_Fredl

imo coins from the past cycle (matic,atom,algo ...) wont make it this cycle. there is another trend like gaming, ai, meme.... and as we all know or most of us - the trend is your friend. sometimes you need to cut losses and swap/shift it into something more fresh/potential. but thats just my opinion. even if their technology is good... it has to mean nothing. same as partnerships and more. and if i look on MATIC/ATOM chart its terrible imo.

MakoBoost

MATIC and ADA will go on a rampage in a few months. Mark my words

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by Chysce. > \>> **Polygon is not at all decentralized** > > Polygon currently has [fewer than 100 validators](https://crosstower.com/resources/education/nakamoto-coefficient/) which results in a Nakamoto Coefficient [Nakamoto Coefficient](https://nakaflow.io/) of just 4. This means that just four validators have enough control to shut down the blockchain or produce false blocks. > > In addition to that whales currently hold \~86% of the entire [supply](https://app.intotheblock.com/coin/MATIC). For comparison ETH whales control 40% of the [supply](https://app.intotheblock.com/coin/ETH) > > \>> **Rising competition** > > Polygon's main competitors are Arbitrum and Optimism, both of which have recently launched their tokens and are keen to establish themselves in the market. Despite being in their early stages of development, both Arbitrum and Optimism have already caught up with Polygon. > > In terms of Total Value Locked: > > * [Arbitrum 2130m](https://defillama.com/chain/Arbitrum) > * [Polygon 1040m](https://defillama.com/chain/Polygon) > * [Optimism 939m](https://defillama.com/chain/Optimism) > > Its main competitor, Arbitrum is both faster and cheaper than Polygon. Detailed comparison of Polygon Arbitrum and Optimism can be found [here](https://pixelplex.io/blog/polygon-vs-arbitrum-vs-optimism-comparison/). > > Additionally since Polygon is **heavily relying on ETH**, if ETH ever accomplishes scaling it will render any L2, including MATIC, obsolete. > > \>> **Eccentric founder** > > Polygon's founder Sandeep is known for his eccentric views on Twitter oftentimes childishly belittling competitors instead of spreading positivity. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

CointestMod

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Shippior. > [Polygon](https://polygon.technology/)(Ticker: [MATIC](https://www.coingecko.com/en/coins/polygon)) is an Ethereum Virtual Machine ([EVM](https://ethereum.org/en/developers/docs/evm/)). It is a sidechain from Ethereum for the solving the scaling problem that Ethereum has by offering faster and more cheap transactions by offering transaction to settle on the Polygon chain and to be later settled on the Ethereum chain. It was created in 2017 by an Indian based team as the Matic network and was later rebranded to Polygon. > > Polygon has a maximum supply of 10 billion tokens. The [total breakdown](https://www.coinbase.com/institutional/research-insights/research/tokenomics-review/polygon-matic-scaling-solutions#:~:text=Polygon's%20token%20MATIC%20is%20primarily,validator%20nodes%20to%20earn%20rewards.) of this supply is 19% Initial exchange offering, 16% to the team, 4% to advisors, 12% to staking rewards, 21.86% to the foundation and 23.33% for future investments in the ecosystem. This shows that there is a lot of funds available for development of the blockchain. This is also seen in the number of developers that chose to work on Polygon. The number of developers working on Polygon has grown to over 1100, which is 16x more than in [2018](https://twitter.com/theweb3sharma/status/1615592481047080961). > > Contrary to other blockchains, polygon is not just one blockchain but a number of blockchains under one hood, each of them focused on a different application. This allows Polygon to compete on several (almost all markets at the same time). It has prominent applications for DeFi, NFTs and [web3 gaming](https://techcrunch.com/2023/03/20/polygon-and-immutable-partner-to-help-onboard-more-gamers-and-developers-into-web3/). For instance it is at the moment a [very populair chain for NFTs] > (https://ambcrypto.com/polygons-nft-space-is-booming-as-trade-count-surges-thanks-to/) and many projects from other chains want to migrate to Polygon. At the moment it has roughly the same volume as [Solana, but both are still dwarfed by the NFT volume of ETH.]( > https://dune.com/rchen8/opensea) > > The most well-known DEXs on the Polygon chain are [Uniswap](https://app.uniswap.org/#/swap), [Quickswap](https://quickswap.exchange/#/) and [1Inch](https://app.1inch.io/#/137/simple/swap/MATIC/DAI). These are all very high profile DEXs. Because Polygon is based on Solidity, just like Ethereum, it is easy to implement it on a DEX that was originally built for Ethereum. This also helps the Polygon chain in general as contract or updates that are developped for Ethereum can be implemented with very little effort. Even if that was a problem, Polygon has currently the fastest growing [number of developers](https://dailyhodl.com/2023/01/19/polygon-cosmos-and-two-ethereum-rivals-have-surged-over-400-in-one-metric-says-crypto-firm/#:~:text=According%20to%20the%20report%2C%20Polygon,2%2C000%20and%20Solana%20about%202%2C250.). > > > Polygon has impressed several multinationals to host their web3 introductions. Starbucks has hosted their rewards program called [Starbucks Odyssey program](https://odyssey.starbucks.com/) on the chain. Reddit has chosen Polygon chain to host their [Avatar NFTs](https://decrypt.co/112783/reddit-nfts-surge-as-polygon-based-avatars-reach-millions-of-new-users) which has seen a large influx of new wallets for MATIC. > > Due to all the hype for MATIC it continues to grow. More than [11 million active wallets](https://polygon.technology/blog/polygon-insights-for-2022) were present in Q4 2022, an increase of 115% compared to Q4 2021. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

Dark_Raiden_

So SEC identified SOL, ADA, MATIC and a few others as securities when it went after exchanges. Why didn't they throw ETH in then, since it was PoS already? WHY DO THEY REFUSE TO COMMENT ABOUT ETH😡

KrunchyKushKing

>think I'd rather sell MATIC. No one uses Polygon True, I mean almost 1B TVL and a 24 hour Volume of almost 50 Million. Dead Chain am I right guys?

Smiling_Jack_

So I was testing a lot of different DApps in December 2022 since everything was super cheap. Threw about 5k into various chains. Just fired up one of the ledgers I was using during that time to import it into Koinly for taxes, and one of the wallets has 100 SOL with a cost basis of $12. Another has 4k FTM with a cost basis of $0.21. Another has 800 AVAX with a cost basis of $13.2. Big oof is 1k MATIC with a cost basis of $0.92.

digitalassetz4all

Guess he saw the name Polygon and auto-MATIC-ally assumed 😏

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by a deleted user. > ####**Has plenty of competitors, including itself** > > Currently, Polygon PoS is competing against optimistic L2 blockchains like Arbitrum One and Optimism. Arbitrum has nearly [2x the TVL as Polygon](https://defillama.com/chains), and Optimism has almost caught up. > > Polygon's future zkEVM rollup is also competing against other zkEVM rollups. Once its zkEVM is released, it's possible it's going to split the Polygon community between those who want to stay on the sidechain and those who want to use the zkEVM. **If you look at their [zkEVM testnet](https://explorer.public.zkevm-test.net/txs?block_number=143530&index=0&page_number=1&page_size=50&pages_limit=200), fees are paid in Ether, not MATIC.** That's bearish for MATIC token utility. > > **TVL has dropped considerably compared to L2s** > > One year ago back in Jan 2022, [Polygon TVL was $4.8B USD](https://defillama.com/chain/Polygon) while the combined [Layer 2 rollup TVL was $5.4B USD](https://l2beat.com/scaling/tvl). While L2 TVL has increased a little despite the bear market, Polygon's TVL has collapsed by 75% to $1.2B. > > **Growing dApp competition from L2 rollups** > > A year ago, Polygon PoS was unique in that it was the only network besides Ethereum that had OpenSea support. Now OpenSea supports a dozen different networks, including competing Layer 2 rollups networks like Optimism, Arbitrum One, and even Arbitrum Nova. So there's a lot more competition. > > **Declining social media support** > > With L2 rollups developing so quickly, many in the Ethereum community have turned against Polygon, creating a narrative that it's "just a sidechain", not a true Layer 2. > > The 0xPolygon subreddit has become more of a ghost town with noticeable amounts of spam posts. I don't think its mods are checking regularly anymore. > > ####**Less resistant to DDoS attacks and spam** > > Like all networks with low transaction fees, it's at risk of DDoS attacks. > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **It has a Gas Cartel** > > Spam attacks were eventually mitigated when the whole Polygon validator community chose to [lock priority fees at a 30 Gwei minimum](https://cryptoslate.com/polygon-matic-to-raise-gas-fee-to-30-gwei-to-prevent-spam-transactions/). That's not an offical part of protocol. Polygon validators have colluded off-chain and are running **gas cartel**, like OPEC. > > However, it still gets tons of spam transactions, which I have experienced first-hand many times. All my Polygon accounts with activity on them were randomly sent spam tokens and NFTs. Many of these tokens are part of scam that try to trick you into interacting with them by selling them. Other are advertising sketchy website links. > > This is the downside of having sub-penny transactions. > > ####**Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. Many parts of Polygon still require Ethereum and pay fees in ETH instead of MATIC. OpenSea's NFT are usually quoted in ETH instead of MATIC. The MATIC token its originates on Ethereum and is bridged over to Polygon PoS as an ERC-20 token. Staking is also done on the Ethereum mainnet. The periodic Polygon checkpoints require paying Ethereum fees too. > > Thus Polygon's success depends on Ethereum's success and security. > > Going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which costs Ethereum gas fees. The first time bridging over to Polygon can be stressful. Their documentation says it should only take [22-30 minutes](https://wiki.polygon.technology/docs/develop/ethereum-polygon/getting-started/) when it often takes many hours as many people including me have found out the hard way. > > ####**Numerous reorgs** > > Polygon has [multiple reorgs every day](https://polygonscan.com/blocks_forked). Many of these are of 10+ depths, which is dangerously high. Due to reorgs, transactions up to 32 blocks ago can be completely reversed. In fact, up until the Delhi update (Jan 17, 2023), it was common to see reorgs up to 128-blocks ago (5 minutes). After the update, this has been reduced to a max of 32 blocks (1 minute). That's better than before the update, but it's still a lot. The reason behind this unique and dangerous Polygon phenomenon is due to the validator sprints that it uses on the Bor block production layer. [I wrote a separate article to explain this phenomenon](https://mplankton.substack.com/p/polygons-block-reorg-problem). > > Even after the Delhi update, there was still a massive [153-block reorg in Feb 2023](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/) and multiple-validator outage caused by an unrelated bug. > > ####**Centralization concerns** > > **Pausable tokens** > > The [MATIC token contract](https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0#code) is pausable. There is a private list of addresses (stored in the "_pausers" private role) that can unilaterally pause the entire MATIC token without needing any other members to approve. > > **Centralized control of Polygon contracts on Ethereum mainnet via its Multisig owner account** > > At any given time, Polygon can update its contracts using this Multisig Gnosis Safe, and it has already done so **40 times in the past year** and 170 times in the past 2 years. That's a lot of unannounced updates. > > It does this through a [5 out of 9 Multisig Gnosis Safe](https://etherscan.io/address/0xfa7d2a996ac6350f4b56c043112da0366a59b74c) (often misquoted as an 5 out of 8 Multisig) that controls all of Polygon's contracts on Ethereum (e.g. Plasma Bridge, PoS Bridge, Staking Contract, Governance Proxy, Ether Bridge, Root Chain Proxy, Polygon-to-Ethereum token mapping, and many other contracts). 4 of these owners are Polygon members, 4 are external DeFi users, and 1 is an unknown account (possibly the owner of Quickswap). > > **[My own investigation](https://mplankton.substack.com/p/investigating-the-59-polygon-multisig) discovered that this MultiSig account is one of the worst-documented parts of Polygon**: > > * Every media site, blog, and forum to this day still thinks it's an 5/8 Multisig based on an old letter back in May 2021. The fact that no one has mentioned the 9th owner (added 2 years ago) is a strong sign the public isn't actually auditing the Polygon admin actions on that Multisig contract. > * A 9th owner was added back [in June 2021](https://etherscan.io/tx/0xb02b91300e3cea5bb788513cd858f27f27410b3bc67b8e12dca10944b4d611c8) **unannounced**. An additional 2 Polygon owners were swapped in the past year **unannounced**. > * [Back in Aug 2021](https://etherscan.io/tx/0x9eca1e21c66d7a30bfb69dedb0857314cf7ed127d149328d518678f7e22fbdb9), ownership of all Polygon's contracts were replaced by a [TimeLock contract](https://etherscan.io/address/0xCaf0aa768A3AE1297DF20072419Db8Bb8b5C8cEf). This Timelock provides an acceptance window where any action on Polygon's contracts has to wait 48 hours before it takes effect. The Timelock is in turn controlled by the 5/9 Gnosis Safe account. > * Polygon's websites, forums, Discord channel, and subreddit don't mention the Timelock. > * **Even Polygon's own documentation team is unaware of the Timelock.** There is [one document that mentions the Multisig address](https://wiki.polygon.technology/docs/faq/commit-chain-multisigs/) suggests that a Timelock is a future update, when it's actually already active. > > ####**Upgrade process is centralized** > > Polygon Labs controls the upgrade process through centralized governance. > > Back in Dec 2021, the Polygon team [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > In Jan 2023, the **Delhi Hardfork, PIP-7**, was voted on by only [15 out of 100 non-dev validators](https://forum.polygon.technology/t/pre-pip-discussion-addressing-reorgs-and-gas-spikes/10623). The vote was only used as non-binding feedback, so Polygon Lab devs still maintained real control over the upgrade. > > In Feb 2023, there was a client bug that caused [a multi-validator outage and 153-block reorg](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/). Due to the outage and slow syncing where many out-of-sync validators were taking up to a day to resync, many of them were missing their 98% checkpoint SLA requirements for staying on as a validator. As a result, the Polygon team pushed **an emergency proposal, PIP-9**, to reduce the threshold back to 95%. In less than half a day, it passed and was activated. Even over 4 days, only 27 out of 100 validators had voted on it. > > **Future decentralized governance** > > It's been over a year since Polygon posted they were looking into [Governance Decentralization](https://blog.polygon.technology/state-of-governance-decentralization/). It wasn't until only Feb 2023 that they started the first steps towards decentralized governance via [PIP-1](https://forum.pol... ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

CointestMod

#Polygon Pro-Arguments Below is a Polygon pro-argument written by a deleted user. > ####**High Efficiency** > > **Very Fast network** > > The main benefit of using the Polygon PoS network is that it's an Ethereum scaling solution that provides much faster and cheaper transactions. > > * **High Throughput**: Current throughput is 350 TPS for 21k gas transfers and ~150 for ERC-20 tokens. It can go faster as a [7200 TPS test with 122 validators has shown](https://cryptoslate.com/matic-testnet-just-powered-ethereum-eth-to-7200-tps-dapps-next/), but Polygon decided to keep the limit at 30M gas per block to combat spam and storage bloat. > * **Fast Block Times**: It has very-fast [2-second average block times](https://polygonscan.com/chart/blocktime). Though due to its finality being probabilistic and high chance of reorgs, you would want to wait ~32 blocks or 1 minute before assuming finality. > > **Lower Fees than L2** > > * Fees are extremely cheap, so much that [validators have been colluding to set the priority fee at 30 Gwei](https://cryptoslate.com/polygon-matic-to-raise-gas-fee-to-30-gwei-to-prevent-spam-transactions/) to combat spam ever since [Polygon co-founder Sandeep's recommendation for it in Oct 2021](https://forum.polygon.technology/t/recommended-min-gas-price-setting/7604). > * Even with the artificially-inflated fees, Polygon transfer fees still only cost $0.001 while competing L2 rollup transfer fees are usually 10x to 100x more expensive in the [$0.02 to $0.20 range](https://l2fees.info/). > * A lot of games like Decentraland and The Sandbox moved to Polygon because they are able to airdrop NFTs to thousands of players at negligible costs. > > ####**Benefits from a synergistic relationship with Ethereum** > > There is a lot of overlap between the Ethereum and Polygon communities, and they both benefit from it. > > While Polygon is technically a sidechain, it helps offload a lot of traffic off Ethereum L1 and thus helps scale it. Thus, it's filling in the same role as an L2. > > * Polygon copies a lot of Ethereum's code and updates. For example, Polygon's London update for EIP-1559 is copied from Ethereum's London update. > * Nearly any wallet that works for Ethereum also works for Polygon. > * Polygon and Ethereum both use EVM for smart contracts, so it's easy for Ethereum's large number of devs to work on Polygon. Their blockchain explorers are also almost identical, so it's easy to audit transactions between them. > * Polygon's Bor block producer layer runs a version of Geth (the Go implementation of Ethereum), so they share similar consensus clients. > * Polygon generates hundreds of thousands of dollars of transactions fees for Ethereum through [MATIC Token transfers](https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0), [PoS Bridge transfers](https://etherscan.io/address/0xa0c68c638235ee32657e8f720a23cec1bfc77c77), and their [Root Chain Proxy](https://etherscan.io/address/0x86e4dc95c7fbdbf52e33d563bbdb00823894c287) checkpoints every 30-45 minutes. > * Ethereum provides security for Polygon PoS through [their checkpoints](https://wiki.polygon.technology/docs/pos/heimdall/checkpoint/), which are necessary as Polygon bridge proofs. MATIC tokens are also [staked on the Ethereum network](https://wiki.polygon.technology/docs/faq/staking-faq/). > > ####**High TVL and app support** > > * **Top 10**: Polygon's TVL has declined greatly in the bear market [to $1.2B](https://defillama.com/chains), but it's still enough to hang onto its Top 10 spot. Its market cap is also still in the [top 10 at $10B](https://www.coingecko.com/en/coins/polygon). > * **Many dApps** like OpenSea, AAVE, Curve, and Uniswap support Polygon. **Reddit's Collectible Avatars** launched on Polygon PoS, which gave it a lot of social media publicity. > * **CEX support**: Most of the largest CEXs like Binance, Coinbase, and Kraken now support the Polygon network for withdrawals. > * **Metaverse**: The 2 largest metaverse games, Decentraland and The Sandbox uses Polygon for their player item NFTs. > > ####**Upcoming Polygon zkEVM** > > The whole Ethereum community is very excited for zkEVMs. > > Polygon was the first to launch a [public zkEVM testnet](https://polygon.technology/blog/polygon-zkevm-public-testnet-the-next-chapter-for-ethereum) in Oct 2022. They already have a [mainnet launch date of March 27, 2023](https://polygon.technology/blog/to-ethereum-with-love-announcing-polygon-zkevm-mainnet-beta-on-march-27th), and everyone is looking forward to it. > > #####**Nakamoto Coefficient is increasing** > > Polygon has a [limit of 100 validators](https://wiki.polygon.technology/docs/maintain/validate/validator-responsibilities/). While this is still quite low, it actually has a bigger Nakamoto Coefficient than both Bitcoin and Ethereum. The more important thing is that it's increasing. Only several months ago, it only took 5 validators to reach 50% stake of the network. Now it has increased to [7 staking validators](https://polygonscan.com/stat/miner?range=14&blocktype=blocks) of MATIC. You can track the identities of the validators, and they all seem to be distinct organizations. > > This is partially thanks to how its [staking website](https://staking.polygon.technology/validators) encourages delegates to stake with smaller validators. Validators with large stakes are hidden on the website while only the smaller ones are shown. There is also a message at the top saying: "To distribute power on the network, please delegate to other top performing validators." > > ####**Great user experience** > > I personally complain a lot about Polygon's centralization and lack of transparency. But I still use Polygon PoS more than any other network. > > Ultimately what matters to me is that it is fast, cheap, has a huge amount of dApps, has good CEX adoption, and has a great blockchain explorer. And those combined lead to a great user experience. > > For new users who don't have MATIC gas tokens, there is a [Polygon Wallet Suite](https://wallet.polygon.technology/polygon/gas-swap) where you can use meta transactions to convert bridged ETH to MATIC without first needing MATIC. > > ####**Long-term Economic Sustainability** > > - The MATIC token is used for staking, and those rewards come from both a token pool and from transaction fee. The [1.2B token pool allocated to Validator Rewards is expected to run out in 2023](https://docs.polygon.technology/docs/maintain/validator/rewards/), after which there will be no more supply inflation. Fifth year validator rewards from the 12% pre-allocated supply will total $150M. After the 5th year, validators are meant to survive on transaction fees alone. > - Currently, [transaction Fees generate $70M annually, with $40M of it burned](https://tokenterminal.com/terminal/projects/polygon). This equates to $300K per validator annually. That's more than enough to run a validator annually. So besides Ethereum, this is one of the few networks with an economically-sustainable security model without inflation. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

Awkward_Potential_

I still think I'd rather sell MATIC. No one uses Polygon and the stuff Polygon spent money on keep going tits up.

Bongressman

Fyi, this isn't MATIC, the main chain. This is Polygon zkEVM.