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BitGo and Polygon launch new staking opportunities following a rocky hardfork upgrade

Winnie Kimeu

Writer, News

Jan 20, 2023 at 03:17

Polygon’s latest partnership, with crypto custody heavyweight BitGo, promises to open up a new realm of possibilities for ERC-20 MATIC holders as staking facilities become readily available.

a rocky hardfork upgrade
A rocky hardfork upgrade

The union between Polygon and BitGo has opened up a world of possibilities for MATIC holders. Not only can they now securely store their coins with a top-notch wallet and custody solutions, but they also have the opportunity to earn generous rewards through staking their ERC-20 MATICs.

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On January 17th, Polygon made a striking announcement that it had accomplished the Delhi hard fork with great success. The hard fork’s objective was to bring down gas fees and tackle chain reorganization issues. 

Polygon clears the air

However, the community couldn’t help but raise an eyebrow at the fact that only a select group of 15 validators participated in the voting process.

Despite initial doubts, Mateusz Rzeszowski, facilitator of Polygon’s governance, took to Twitter to shed a brilliant light on the upgrade’s execution, clearing up any confusion.

As of January 18th, all active validators have completed the Delhi hard fork

Furthermore, the Polygon forum confirms that a staggering 3.5 billion staked MATIC coins have validated the updated version of the chain.

MATIC Price Data - Jan 20, 2023
MATIC Price Data – Jan 20, 2023

MATIC’s value has been on a downward slope this week. Presently,  it’s trading at $0.9526, displaying a minor 0.4% dip since the start of the day.

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