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Balancer New Proposal To User Treasure Assets to Yield Farm
Congratulations KuCoin! You have successfully robbed me of my time and $100
KuCoin Chronicles Continued: KuCoin Stealing My Funds, Requiring Me To Pay to Retrieve Them, and Then Finally Blocking Me
Bitboy Crypto & crew dumping Ryoshi token on users
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The token isn't worth much, but has been slowly going back up lately; very slowly. I stake mine on Dyson for WMATIC. I've been using that WMATIC to buy more SPHERE. A lot of development has been happening, but not a lot of marketing. The devs have said that they want to wait until the next major release which ties everything together before a marketing push. That is expected around Oct. They also got rid of the taxes. I tend to think of Sphere like a post IPO startup. They have kept the core dev team, improved the financials, and maintained the dividend. It's just not reflected in the token price yet. Besides what I think about the future potential I've also stuck with them because of how they handled a recent breach. Everyone affected was promptly reimbursed from the Treasury with no BS or excuses.
tldr; Stablecoin protocol Harbor has been hacked, resulting in the loss of funds from several vaults. The attack affected stable-mint and stOSMO, LUNA, and WMATIC vaults. The Harbor Protocol team is investigating the attack, tracing the funds, and calculating the losses. They are open to discussions with the attacker to find a solution that will not impact users and the cryptocurrency community. The team is determined to resolve the issue and compensate affected users. Harbor Protocol allows users to mint stablecoins pegged to various fiat currencies using collateral from different blockchains. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
It's primitive because no one bridges WETH back to Ethereum. Why is OP even doing this? Usually people just swap to MATIC, WMATIC, and then send it back to an exchange. If you're going to bridge back to Ethereum, of course there will be high fees. That's why there are plenty of better options.
**Don't rely on revokes** I hate to sound like a broken record, but you shouldn't be relying on revokes on a cheap network like Arbitrum Nova where it only costs $0.001 to make an approval, you're playing with fire. This hack is one of those cases where a hardware wallet wouldn't have saved you, and revoking would've been too late. **Using Minimum allowance is the Best Practice** The best practice is to approve ONLY the exact amount of tokens you needed to make a swap so that once your swap is complete, the allowance automatically goes back down to 0. * For example, if you approve 300 tokens and swap 250 tokens, your allowance for a particular spender goes down from 300 to 50 tokens. * So if you approve of 300 tokens and swap exactly 300 tokens, the allowance goes down to 0 and that router can't spend anymore. Luckily for us, these contracts seem to only involve WETH, WMATIC, WBNB, etc. (the wrapped version of the gas token), so Moons are not involved. But it doesn't hurt to visit https://revoke.cash/ and remove all approvals just to be safe. If you do see large amounts of approved tokens, you haven't been following best practices.
This is why you guys ALWAYS need to follow best practices. **You should always approve ONLY the exact amount of tokens you needed to make a swap** so that once your swap is complete, the allowance automatically goes back down to 0. This is one of those cases where a hardware wallet wouldn't have saved you, and revoking could've been too late. ---------- Luckily for us, these contracts seem to only involve WETH, WMATIC, WBNB, etc. (the wrapped version of the gas token), so Moons are not involved. But it doesn't hurt to visit https://revoke.cash/ and remove all approvals just to be safe. If you do see large amounts of approved tokens, you haven't been following best practices.
Going by the list of contracts, these are all WETH and WMATIC contracts. arbitrum nova 0x1c5771e96C9d5524fb6e606f5B356d08C40Eb194 arbitrum 0xA7caC4207579A179c1069435d032ee0F9F150e5c avax 0xbACEB8eC6b9355Dfc0269C18bac9d6E2Bdc29C4F boba 0x2f686751b19a9d91cc3d57d90150bc767f050066 bsc 0xD75F5369724b513b497101fb15211160c1d96550 ethereum 0x044b75f554b886A065b9567891e45c79542d7357 fantom 0x3e603C14aF37EBdaD31709C4f848Fc6aD5BEc715 fuse 0x2f686751b19a9d91cc3d57d90150Bc767f050066 gnosis 0x145d82bCa93cCa2AE057D1c6f26245d1b9522E6F moonbeam 0x1838b053E0223F05FB768fa79aA07Df3f0f27480 moonriver 0x3d2f8ae0344d38525d2ae96ab750b83480c0844f optimism 0xF0cBce1942A68BEB3d1b73F0dd86C8DCc363eF49 polygon 0x5097CBB61D3C75907656DC4e3bbA892Ff136649a polygon zkevm 0x93395129bd3fcf49d95730D3C2737c17990fF328
I hold very small amount of matic but i should still point some things and if i am mistaken please correct me. Given the fact that polygon is actually a soft fork of cosmos tendermint with some cosmos sdk features from version 0.39 validator and governance work similar. This means that power lies in both stakers and validators when governance is considered. This is something not included in those researches. 35% of polygon is staked not the best amount since cosmos has over 60%( i used cosmos since it is the closest blockchain as a representative). They only have 100 validators i think this is because how tendermint(at polygon it is called peppermint i think it is just a rebrand of cosmos tendermint concensus) having more validators affects the speed of network. As far as 36 tps per secound i think this is current avarage speed. Because there is not that much of a usage. Again i will do a match with cosmos. Cosmos currently i think it can do with under 2k tps with current validator number. Which means polygon should be able to do better than this. For wallets concerns. First and secound wallet have a tag Polygon: MATIC Token and Polygon: WMATIC Token. These wallets could be used specifically for smart contract locked tokens bridged and wraped. Then looking at first 25 biggest wallets there are 2 Binance hot wallets, 1 wallets with tag just Binance, 1 Bitfinex, 1 Huobi. There are probably some more cex on this list but it is unmarked. This is probably because a lot of people still stake through cex. Inflation rate high. Currently polygon supply is at 8.9 B. Polygon is capped at 10B. It should reach 10B at 2025 in june i think. Correct me if i am wrong but that literally means 0.5B should be minted a year. So inflation should be about 5-7%. It might be a bit higher since i do not know if polygon has a tax system. And i think there is a burn system involved but i do not know how does this affect inflation as a whole. This is just my opinion i might be wrong on some points correct me if i am wrong.
I use DeFi to increase my crypto using instruments and low interest liquidity only corporations and wealthy individuals have access to. I borrow USDC at 1.46% APR against wBTC, then use the USDC to make LPs on Uniswap. Currently earning >40% APR on USDC/WETH and USDC/WMATIC. Also using revert.finance to stake LP for additional LP rewards sponsored by Polygon. There are risks of impermanent loss but I am happy to ride these pairs until Stacks gets their sBTC non-custody on-chain DeFi ecosystem up and going later in 2023. A lot of BTC equity will be leaving ETH and coming to Stacks because of their on-bitcoin-blockchain solution. TLDR; Basically, your dad’s brain is old and weak; our world won’t resemble his. You are your own banker now.
Should wrapped coins always be the same price as their non-wrapped counterparts? So, if I'm looking at BTC on bitcoin and WBTC on ethereum should the price be the same? Same with WMATIC on ethereum and MATIC on polygon? Is the only benifit the network it's on for easier trading/using? So, on ethereum one could "use" WBTC and WMATIC for various things where the BTC on bitcoin can't really be used for anything but trading itself.
Very bullish about Matic, the crypto community is very positive about Polygon! I have seen we can trade WMATIC options on Siren protocol, it's also a great step for Matic related to options trading, which platform may launch Matic Options next?
Your staked Matic earns Matic tokens, if you look closer, you'll see that your staked Matic balance keeps increase. That's the 0.33% APY being added. You can get this when you unstake all your MATIC. The additional 2.7% APY which is rewarded in WMATIC can be claimed from the dashboard.
Post is by: kingyusei and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s24s4e/how_to_claimearn_your_interest_on_aave/ I am new to DEFI and currently exploring the beautiful world it provides. I have started exploring on the polygon network and found out about AAVE. I have deposited some MATIC tokens on AAVE to earn interest, but I only seem to be recieving interest in wMATIC tokens, which I have to claim manually. I couldn't find an answer to this anywhere so I hope I can get an answer here; Say I deposited funds, wether thats stable coins or MATIC, on the polygon chain into AAVE, I can see im earning WMATIC tokens as a reward, but shouldn't I get rewarded with another token/coin? I'm asking since it shows two different rewards ratio, and the second clearly states rewards in WMATIC, which I'm able to claim in the dashboard. ​ I've also added MATIC, wMATIC and AAVE to my wallet but it seems I have not gotten any rewards in there. I've read something about a\_tokens but can not seem to find any info regarding that on the AAVE website itself. I can not even find any information on how to claim interesting on the AAVE website either. ​ Maybe I am just dumb and looking over it? Hope someone can clear this up for me :D *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
How can you unwrap a coin? I have WMATIC that I would like to swap for MATIC. Does it cost a lot?
Nice try OP. You blur out the W from WMATIC 😂
OP is a moron. KuCoin is shit, we all know this, but OP is an idiot. You did in fact send WMATIC to their exchange. Look at the photo lol. Also you're a cheap fuck. Maybe don't withdraw directly to an exchange address. 🤣
It says "Matic" at the bottom half of the screenshot, but if you actually click on the transaction itself, it will say WMATIC. That's how Polygonscan displays it.
In other words, you wanted to act smart without realizing the risks. Look at the imgur and look at the first two lines, it's WMATIC. Send me the link to your actual transactions and I will show it to you.
I would appreciate it if you would stop talking as if you know who I am. I never intended to save network fees (that is foolish), simply automate the process. I don't understand what you are trying to say with look at the top and bottom. I provided reasoning as for why MATIC reached their wallet and WMATIC didn't even touch their wallet.
And the worst part is, proper noobs here have no idea what's going on and are affected by your FUD. Yes Kucoin support is crap but you have a responsibility as well to know what you're doing and be happy that you're being helped at all. My guess is, they will take their time but you will have your WMATIC back, although it's a tough one because the payout came from a contract and not a simple sending transaction.
A few things here, OP, you're a proper cheap muppet trying to save some network fees even though fees are extremely low on polygon. First of all, it's bad practice to enter an exchange address as a payout from using a defi protocol, just don't do it! You never know what comes out on the other end. If you looks closer at your imgur, you can see it's actually WMATIC. Don't look at the bottom. Look at the top. Your transactions will be the same.
Sometimes you have to add the token or coin manually in Metamask in order to see it there. Especially since it’s a WMATIC version I’d imagine you have to add it to your list of tokens.
Help me out here: Polygonscan is telling me I have a good chunk of WMATIC (that I thought I swapped/sent elsewhere). But it's at 0 in my metamask.
It's the same as anywhere else - it's generated through inflation. However, the only ones getting the inflation - are the stakers. If you are staked in the longest deposit, there is no inflation for you. If you withdraw prematurely(before stake expires), you get penalized and the penalties go to the protocol. The system also has a farm for the TOKEN-USDC and -WMATIC pair, off of which it generates fees. And those tokens are also used to pay bonuses for rolling over stakes and to give incentives for rolling them over into longer time periods. The inflation is made to decrease over time. Bitcoin has halvening, here once a threshold of tokens are collected in the protocol, you get a boost of rewards(sort of a mechanism to re-distribute penalties), after it ends the inflation reduces and some of the tokens are burned.
Something I still don't get is: why does WMATIC exist then? MATIC is the native currency of the Polygon chain of ETH but some services (notably aave) wrap MATIC tokens. Why is this necessary?
>You can see on the borrow page that it costs \~0.35% APY to borrow, but you’re PAID 1.53% APR in WMATIC! You read that right, you’re PAID to borrow BTC! This incentive from the Polygon development team lasts through April of 2022 source. Thanks for your tutorial. It looks like the rates have [changed](https://imgur.com/nCE2Ah6) since then, so you're no longer paid to borrow BTC am I right? As I'm typing this, the borrowing APY for wBTC Coin is 0.87% and you're getting paid 0.75% APR in wMATIC. Is there a workaround ?
Layer 2, lower fees and fast transactions. Also add the fact mostly projects (aave, sushi, curve…) offers WMATIC as rewards.
Ok thanks. So I send my MATIC to the polygon chain, and then it becomes WMATIC or something? B/c I see on sushi I can swap from WMATIC.