Polygon has partnered with BitGo to provide staking functionality for MATIC holders. Additionally, users can earn rewards by staking ERC-20 MATIC tokens. BitGo decided to support Polygon due to its advantages such as speed, low gas fees, better security, and commitment to carbon neutrality.
The Polygon-BitGo partnership is not the first of its kind in recent times. Polygon has entered into several partnerships with other platforms. However, a recent partnership between Polygon and BitGo will provide wallet and custody services for MATIC holders. Polygon is an Ethereum-based decentralized scaling platform, while BitGo provides investors with regulated custody, financial services, and core infrastructure.
The COO of BitGo, Chen Fang, said, “By offering more features for MATIC, we’re providing investors with a safer way to custody their assets and providing platforms with the tools they need to build the future.”
This week, the price of MATIC has been trending downwards. At the time of writing, the price of MATIC is $0.969, which is 1.36% higher than its price in the past 24 hours.
In December 2022, Polygon released Bor – v0.3.1-Mumbai, a hard fork called the Delhi Fork. The benefit of this hard fork release is that it will reduce transaction costs on Polygon by mitigating problematic price spikes. The development team estimates that the base fee will temporarily drop from 12.5% to 6.25% after the hard fork is implemented. Another benefit of this hard fork is that it will improve chain reorganization. This update has enabled BitGo users to access the Ethereum Layer 2 platform. Additionally, Polygon announced further improvements to its network. This comes from the "still pending" zero-knowledge (ZK) rollup to mainnet. Therefore, Polygon aims to achieve better scalability and privacy on its network.
