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Polygon Network Teamed Up with BitGo After a Heated Hardfork Upgrade

  • BitGo and Polygon's partnership will allow holders to receive rewards by staking ERC-20 MATIC.

  • Polygon's recent Delhi hard fork made quite a buzz in the crypto community.

  • The governance facilitator at Polygon addressed the concerns about the upgrade's execution.

20-Jan-2023 By: Rohit Tripathi
Polygon Network Team

Polygon has partnered with BitGo to offer

 MATIC holders with staking options. While the governance facilitator discussed the recent controversy.

The Polygon Network is well-known for its multiple strategic partnerships, which have grown throughout the crypto winter. It recently announced a partnership with crypto custody provider BitGo to provide staking services to ERC-20 MATIC holders.

BitGo Makes Way for Polygon

MATIC holders will now have access to wallet and custody services thanks to a new partnership between Polygon and BitGo. MATIC holders on the ERC-20 chain can also earn rewards by staking their tokens.

Chen Fang, the Chief Operating Officer of BitGo, said, “by introducing more functionality for MATIC, we're providing investors with a safer way to safeguard their funds and providing platforms with the tools they need to develop the future.”

Delhi Hard Fork Sparks Controversy

On January 17, Polygon stated that it had successfully completed the Delhi hard fork, which intended to cut gas expenses and reorganize the address chain. The community was surprised by the hard fork because just 15 validators participated in the voting process.

However, Mateusz Rzeszowski, Polygon's governance facilitator, wrote a Twitter thread to give further light on the upgrade's execution. As of January 18, all active validators had completed the Delhi hard fork. According to a Polygon forum, the 3.5 billion MATIC coins staked authenticate the upgraded version of the chain.

This week, the price of MATIC remains highly optimistic. However, there hasn't been any movement in the asset's price in the last 24 hours. It is currently trading at $0.9427, down 0.2% from its opening price.

Also read: ETHEREUM PRICE ANALYSIS CMP-$1,545: The Bulls and Bears are vying for the leading position

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