Polygon Partners With BitGo To Offer MATIC Staking Rewards

Polygon partnered with BitGo to provide staking capabilities for MATIC holders. While the governance facilitator addressed the recent controversy.

Polygon Network is known for its various strategic partnerships that it formed during the crypto winter. Recently it announced a partnership with crypto custody provider BitGo that will enable staking features for ERC-20 MATIC holders.

BitGo Opens the Door to Polygon

With the recent partnership between Polygon and BitGo, MATIC holders will have access to wallet and custody facilities. MATIC holders can also earn rewards by staking their coins on the ERC-20 chain.

“By adding more features to MATIC, we are providing investors with a secure way to keep their assets safe and provide the platform with the tools they need to build the future,” said Chen Fang, Chief Operating Officer of BitGo. Huh.”

Delhi hard fork sparks controversy

On January 17, Polygon announced that it had successfully completed the Delhi hard fork, which aims to reduce gas fees and address on-chain reorganization. The hard fork raised some eyebrows from the community as only 15 validators participated in the voting process.

polygon voting changes screenshot
Polygon change voting screenshot Source: Polygon Forum

However, Mateusz Rzeszowski, Polygon’s Governance Facilitator, wrote a Twitter Thread To shed more light on the performance of the upgrade. As of January 18, all active validators have executed the Delhi hard fork. According to the Polygon forum, the 3.5 billion staked MATIC coins validate the upgraded version of the chain.

MATIC price is in a downtrend this week. However, there has not been much price action in the asset in the last 24-hours. It is currently trading at $0.9526, down 0.4% since the daily open.

Polygon (Matic) price chart by BeInCrypto
Source: BeInCrypto

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BeInCrypto has reached out to the company or individual involved in the story for an official statement regarding the recent developments, but has not yet received a response.

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