I've been talking a lot about polygon as of late. When it first hit headlines for me was when Mark Cuban hit the headlines saying he was invested into it. That didn't really effect me in any way and the price shot up. This is because a majority of people around the world headline chase and that almost always screws you.
It wasn't until CubDeFi announced they would be building a defi platform called Polycub and with it an airdrop would most likely be happening for those staking CUB. Since then I've not only been buying and staking even more CUB but I've also been picking up... Polygon(Matic)
Why?
Even though Polygon is a great layer two solution to Ethereum it's still ran into the same issues as Ethereum. That would be higher fees and slower transaction times. This happened when a poorly programed game that blew up started hammering the chain with transactions.
This means every transaction I make on Polycub when it launches will cost me a little bit of matic. But not only that I'm most likely going to want to pair my polycub to Polygon thus I'll need a 1:1 value on it. We all know when a new defi platform launches the APRs are nuts so the sooner you can ape in the better to maximize that. This is why having Polygon on hand will make this much easier.
Unlike many tokens in this space Polygon is actully deflationary and this is due to a recent burn protocol added EIP-1559 just 3-4 weeks ago. The burn of this is only expected to be a small amount but even that small amount means less tokens to go around.
This simple little burn on every transaction actully is a smart move. It makes developers optimize their platforms and the ways they hit the chain because there's now a cost involved. If a developer is able to do the same functions with half the hits to the chain they essentially just made 50% more profit on their platform.
Polygon also works on a proof of stake model which I'll deep dive into a later post on how that all works and how you can start staking polygon yourself. This is another way you can earn some polygon until the launch of PolyCub. This also allows you to earn some passive nature income from the network which I have a feeling more and more blockchains are going to start using and advancing on it.
What does all of this boil down to? It's me telling you to be ready and be prepared. What I constantly see in the markets and honestly with everything in life are the masses that jump in after the headlines hit because it's easy! What's a little harder is spending time to research and plan ahead. Buying Matic last week when things crashed would already set you up for at least 15% gains plus some earnings from your stake.
*This article is for entertainment purposes and not financial advise. Do your own research before investing and take responsibility for your own actions.
