Polygon evolution
The Polygon protocol is an advanced framework for building and connecting Ethereum-compatible blockchain networks. It has aggregating scalable options and tools supporting the multi-chain Ethereum ecosystem. MATIC is the native token of the Polygon protocol, an ERC20 token on ETH blockchain that is used for payments and rewards.
Polygon-Matic started to trend after the rebranding, gaining value even when all the market was red! I had over 4000 $MATIC staked since June 2020 and in one year they grew nicely to 5429 tokens. I made my initial investment sometimes in July-August when the price was close to $0.018 per token and spent $75 for +4000 MATIC. At today's value I gained 75 times the invested amount, without even adding the staking rewards into the calculation.
The latest top Polygon partnership was with UMA, adding the dispute resolution layer known as the Data Verification Mechanism (DVM) to UMA's scalability power. The new system is set to empower and assist developer to create top DApps and exra secure smart contracts.
The communication between the ETH Data Verification Mechanism and the Polygon contract will be made by a two-ways communication bridge. The contract will call the native Oracle and settle the request without accessing the DVM is no issue is found. If the contract has a dispute, the DVM will be accessed to resolve the dispute.
My Polygon staking experience
I restaked my MATIC rewards in January 2021 and left them there to generate more $MATIC, without checking too often as the ETH gas fees where crazy for months. In July, when the gas fees were at an acceptable level, I withdrew the rewards for the last six months and staked them again. Half year of staking generated 342.37 MATIC, $404 at the time, for which I paid $4.88 to withdrew.
I was still waiting for the withdrawal through the Plasma Bridge to complete but in the same time I didn't want to risk a surge in fees so I delegated the rewards without the 30 MATIC I sent from the Polygon Network. The initial MATIC Foundation Node 7 where I delegated in 2020 is no longer available so I had to chose another one.
I chose The Abyss because it had zero fees until 2020 and 100% performance. The estimated fee for the transaction was $2.42 but it grew to $10.89 after clicking the "Continue" button. Still a small amount considering the good rewards I received until now.
All confirmed and now I have 5429 $MATIC delegated for two validators, both with 100% checkpoint signed and zero commission.
Residual Income:
DeFi bounty at CakeDeFi with $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, ReadCash, LBRY & Presearch
