Why Polygon (Matic) Is A Solid Bet

Of all the cryptos since the hard crash Polygon (MATIC) has actully held decent ground and has also been one of the largest rallies since crypto leveled out. There's actully a lot to this blockchain and token and today I'm going to deep dive into where I believe it's headed.

I have to get the legal fun out of the way first. This article is not investment advice and is for entertainment purposes only. It is of my own personal opinion. Do your own research before investing and understand the risks before investing.

Polygon (MATIC) was split from Ethereum but one critical aspect of it is it's created by some of the former developers of Ethereum who left on good terms. This is why Ethereum and Polygon (MATIC) pretty much go hand in hand with a lot of projects and has become one of the first accepted layer 2 chains for Ethereum.

Polygon (MATIC) at it's core is developed in a way to try and help reduce fee costs and transaction times for Ethereum. That's pretty much its function and its done a rather good job of it minus a few hickups. Yes it's crazy centralized where they can take down the blockchain to do updates etc but it's one of the best and most accepted second layer tokens for reduced fees and faster transactions. In fact I pay about 1/10th what I do on the Binance smart chain so I see Polygon eventually warming up to take over a lot of grunt work of Ethereum which would be huge.

Polygon (Matic) currently ranks 6th among total locked value for DeFi platforms. If you want to use a Polygon (Matic) defi platform I would recommend PolyCub. The total locked value only comes in at about 1.23 billion dollars worth compared to Ethereum to 50 billion. It clearly goes to show that Polygon has a very long way to go however just doubling the defi locked value would put it top 4 almost top 3.

If DeFi isn't your thing you can then stake Polygon (Matic) for about a 4% to 10% APR depending on how much you trust the system you are delegating to as you share the risks when doing delegation on Polygon.

In the last week a long Polygon has seen a massive 28.4% gain when compared to the rest of the top market caps who are mostly still negative. It's even beaten out Ethereum at not nearly 11% gain. This starts to paint a very bullish target on Polygon and also why personally I've started to heavily get involved with PolyCub Defi

What's Fueling Polygons Growth?

#1 - Polygon has announced some rather big partnerships. This comes during what would be one of the worst bear markets for crypto ever. These partnerships include Coca-Cola and Reddit who are launch NFT markets on Polygon. This could be the future for the next NFT rally where people still want Ethereum but don't want to pay those heavy $80 fees again. Polygon is offering that solution and it's growing.

Polygon has also been selected by Disney to be the only blockchain included in 2022 Disney Accelerator Program. The mission for this is a business development program designed to accelerate the growth of innovative companies from around the world.

What Could Happen Next

Right now Polygon is in a hyped up phase so for now It's not a buy for me but instead a hold and stake/defi move. I believe the price will come down over the next month but perhaps pick back up if Ethereum launching PoS system.

Posted Using LeoFinance ^Beta