MATIC

_Beta-Male_

Damn what is happening with MATIC

bvandepol

KAS and MATIC, I’m not considering ETH an ‘alt’

DBRiMatt

Staking my ADA and MATIC. also LRC, but that sucks.... xD

pseudoHappyHippy

He said he cut DOT, not MATIC.

MericaGuy

Still MATIC, ADA, but im also looking to add some thing like SOL or LINK this month.

No-Ice-9440

Where’s the MATIC

keyoh321

DCA Day for me, just picked up some ETH, MATIC and SOL, anyone else DCAing on this fine day? If so, what are you picking up? 👀

dabornstein

BTC, ETH, maybe ADA and MATIC

Middle____Earth

MATIC climbing the list now, huh? But cool to see BTC/MOON/ETH still on too as always

Omnomnomnivor3

Just ETH-MOONS-MATIC Eth to replenish some airdrop hunting gas fees Moons for liquidity Matic because BELIEVE

Chum181

I was a big MATIC fan - I need to add more to my bags. But BTC is just too solid not to back.

Electrical-Lead5993

It’s definitely MATIC

xSkyFa11x

MATIC

TexasBoyz-713

MATIC!

GreedVault

>Google cloud becomes a validator on Polygon network, stakes 10,000 MATIC. This piece of news makes me horny, polygon gonna rock the l2 layer.

JustStopppingBye

Then you find out that Swift and DTCC both tested chainlinks CCIP successfully and while all the sheep in the echo chamber that is reddit, will still be buying MATIC after they found out that google cloud (who uses chainlink oracles) started a polygon node. I hope youre joking but a small part of me wishes that reddit misses out on this.

Affectionate_Hand_76

1. September ends in green finally. Pumptober on the horizon? BTC at 27K, ETH at 1670 and moons crabbing around 0.28. 2. Brazil rolls digital ID on blockchain. 3. FTX hacker moves $4.2m worth of ETH after months of inactivity 4. Google cloud becomes a validator on Polygon network, stakes 10,000 MATIC. Notable Financial Dates Coming Up: * October 01 - Government shutdown (if funding legislation for next fiscal is not passed) * October 04 - October 09 SBF Criminal Trail. * October 05 - Moons distribution day. * October 06 - September Jobs data.

SeriousGains

Oh my gosh! Over 10,000 MATIC!!! That’s like $5000 worth! Google is making a serious investment into Polygon! /s

Certain_Lifeguard_31

I have decided to add QNT to my portfolio. It seems pretty decent as a bet worth 5% of my crypto portfolio. With it, my portfolio breaks down like this with 5% left to be allocated: BTC 50% and XMR 5%, these are the value transfer coins ETH 25% and MATIC 5%, these are the Layer 1 and Layer 2 LINK 5% and QNT 5%, these are the oracles. Looks good? I'm debating what to do with the last 5%. I can buy another in one of the categories above or I can buy from some other category or alternatively I can buy 5 different higher risk coins. What do you think of my portfolio and of these options? Thanks 😊

MericaGuy

ADA and MATIC. Solid projects imo

OkCaterpillar822

That would be MATIC for me. It's the only coin still in profit in my portfolio and i've bought it in 2021...

OkCaterpillar822

Yes i think the same. Will be sooo awesome to see a little more green numbers in my portfolio besides just MATIC beeing positive

Fantastic_Box4292

ETH then MATIC. Been loading up on both this bear cycle.

0xjoel

Yea, MATIC is a very solid project

kirtash93

I think the best DCA strategy if you want some risk is DCA 35% BTC, 35% ETH and 30% alts like ADA, ALGO, DOT, MATIC, LINK, ATOM and SOL.

Citadel_Employee

Because Google is a validator on many other networks as well. And they only staked 10,000 MATIC (~$5,000) which is a drop in the bucket for them. The term partnership is used very loosely most of the time with these networks. I think once these companies start developing actual apps/services on these networks, then we'll see more movement.

Fantastic_Box4292

I've been getting my average down on ETH, MATIC, ADA & XRP. Hopefully it will pay off next bull run.

Kessaveli

How high do you think MATIC can go in the next bull?

Armolin

Indeed, I have a larger MATIC position than Google.

EmaHeiwa

Count me in 🐃 with my 69 MATIC

Jako_RJB

A couple of years ago I told my wife to pick a random coin on which she thought I should DCA, she randomly chose MATIC. That was the best decision ever and I still feel grateful for what she chose. Gotta give props to her

soyelvorph

MATIC migration and LINK behavior the past 7 days

craigmorris78

I don’t know what MATIC is. Don’t suppose you care to explain why you’d invest?

Easy-Medicine-8610

Even though this isnt anything significant, this kind of "news" in 2017 would have made MATIC pump 90%+ in an hour. I miss those days!

Easy-Medicine-8610

Even though this isnt anything significant, this kind of "news" in 2017 would have made MATIC pump 90%+ in an hour. I miss those days!

conceiv3d-in-lib3rty

They’re not bots bro lmao. A 5 second look through their post history would have confirmed that for you. It’s crypto naive users who are just parroting what others are saying. I guarantee most of them have 0 MATIC in their Metamask.

cryptoguy66

FET and MATIC and of course MOONS

DBRiMatt

MATIC has been the only alt I've focused on accumulating this year, pretty happy to be earning 1 a day from staking now.

tamaleA19

Just need patience. MATIC is going places

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by Maleficent_Plankton. > ####**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://foru... ***** 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.

Tasigur1

All fine mate :) MATIC is a cool project, I think the price right now is pretty solid as an entry point .. I just need more fiat 😅

Affectionate_Hand_76

It’s 10000 MATIC. Is that so bullish? For all we know they might just be testing the waters.

Tasigur1

Staking 10k MATIC? Nice one. And I am here staking my 200 MATIC lol

coinfeeds-bot

tldr; Google Cloud has joined Polygon as a decentralized validator, reinforcing the security of the Heimdall, Bor, and Polygon PoS users. This collaboration reflects Google Cloud's continued commitment to Web3 projects collective security and decentralization. Polygon's MATIC price experienced a minor uptick, signaling a potential recovery from a recent downtrend. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

loksfox

I wouldn't recommend anyone to sleep on Matic right now, it's one of, if not the most popular L2 scaling solutions for Ethereum with some darn good partnerships. It makes a lot of sense to buy some MATIC right now during the bear market.

a14alo

DCAing into BTC and ETH (mostly) and a portion of ARB, OP, MATIC, AVAX, BNB and a couple of gems.

amgcryptto

This month i am buying MATIC, and some DOT!

Nootey

BTC and ETH for starters, once you do further research, look into some popular alts like ATOM, MATIC, LINK ...

TexasBoyz-713

MATIC

iwishiremember

MATIC will be migrated to POL token.Just fyi.

Omnomnomnivor3

Yes, absolutely. They're actually transitioning to zk (zeroknowledge) tech that's why there's polygonzkevm So yeah there's a good chance it's a good bet. MATIC coin will also transition to POL

MericaGuy

Layer 2s like MATIC maybe? They run on ETH to deliver goods and services to people?

Kephby

You can buy Wrapped Banano on [wrap.banano.cc](https://wrap.banano.cc). I've connected to it with my Coinbase Wallet (the decentralized wallet, not the app). MetaMask works as well. Once you've connected to it on Polygon, you can swap ETH, MATIC, etc. for Wrapped Banano.

Tasigur1

ETH x MATIC x MOONs

keyoh321

Solid choice, I’m right there with you on MATIC and ETH, I’d probably swap out XRP for SOL though personally.

ImNotFromThisWorld

ETH, XRP, and MATIC… I may or may not be biased because I hold these coins.

Montana-Safari7

I need to get back on the MATIC train before the bull.

xSkyFa11x

for alts I’ve been doing MATIC and LINK

topdollar3

Bulish on MATIC

TexasBoyz-713

I miss the “MATIC $1 Stablecoin” meme days…

TexasBoyz-713

Damn, I really should get back on buying MATIC. So much good stuff still going for them.

loksfox

That's is an insanely huge partnership...i hope people are loading up on Matic while they can, it's one of, if not the most popular L2 scaling solutions for Ethereum with some darn good partnerships. It makes a lot of sense to buy some MATIC right now during the bear market...but at the end of the day, it's your money, do what you will with it...but i think you would be truly missing out not having some exposure though.

Electrical-Lead5993

Bullish on MATIC

Mariahausfrau

I buy MATIC weekly. Ive been DCA it quite long. It almost green also. My favour alt.

abesWaves

I’m more concerned as to why MATIC is approaching it’s bear market lows. How will the migration benefit the price? If it’s not used as gas will the price continue to trend down?

partymsl

MATIC will literally always be a very splid investment, no matter what.

bvandepol

I’m a MATIC holder and I have to say I didn’t spend any time researching this migration. Pretty naive, and I have to educate myself on this

Wonzky

I like Google but love MATIC, seems like Polygon could get a big boost in adoption

mesutdmn

MATIC's price stays the same, it seems not a bullish news, but nice news.

Affectionate_Hand_76

That’s is bullish but we need to consider the migration of MATIC to poly which would infinite supply.

Matth3w_95

While MATIC as a token is suffering a lot, it's nice to see that Polygon os continuing to develop and find big partners.

Kessaveli

I usually roll with LINK, ADA, MATIC and DOT.

Fantastic_Box4292

I usually buy on red days, mainly ETH, MATIC or XRP.

Certain_Lifeguard_31

I read something that said "bet more on strong performers, not less" and that has stuck with me. I think it's a good plan. MATIC has that ETH connection which makes it sexy.

OkCaterpillar822

MATIC is a very good and solic choice for sure. Bought a big bag in 2021 and it's still in profit, very outstanding performing in this bear market.

Certain_Lifeguard_31

I don't know. I've got MATIC already and I think I might stay away from other ETH competitors. I like that MATIC is complementary to ETH. It looked way better to me than ARB and OP. I was hoping to find non-competitors.

Certain_Lifeguard_31

I don't know what Moons are, really. I need to research them. QNT has a lot of recommendations now so I'll definitely consider it. I'm also a suckered for adding another that is similar to LINK because then I'll have 3 categories with 2 in each, BTC and XMR, ETH and MATIC, LINK and QNT. Are they competitors? I don't know anything about QNT that you didn't type here 😅

Certain_Lifeguard_31

Honestly, when people ask have you considered or have you heard of, the answer is no. Why? Because I haven't heard of basically everything. Let me tell you about the time I was researching L2s because I heard about ARB and OP and then 1 week later someone mentioned MATIC and I said what's MATIC 😆. It's the 1st on the list of L2s 😅. I had no idea and I'm sure I must have at least read the name when I opened the list. I'll check DOT out. Do you mind telling me what it is or does? Would you categorize it with BTC and XMR or eith ETH and MATIC or with LINK or with something else? Thanks!

mesutdmn

>I read a bunch of stuff and decided that a 50% BTC, 25% ETH and 25% divided by 5 alts portfolio is best. 3 of the 5 have been chosen and they are XMR, MATIC and LINK. Looks pretty logical, hope luck will be with u.

Omnomnomnivor3

just MATIC to co crypto people and not to non crypto people, that's it their ecosystem is fast, fluid, cheap, strong as fck

roadbowler

Do you get put off when a coin is shilled relentlessly? The amount of shilling of LINK and MATIC on Twitter and on here is massive. Even if they are good coins I don't want to go near them because of this. I made the mistake of following the shillers when I started out, trying to learn.

ImNotFromThisWorld

10k moons and as much MATIC as I can by the time the bullrun starts.