Polygon: Explained why MATIC is registering constant gains

Main cryptocurrencies have been falling since a weekend sell-off, however MATIC has been registering fixed features. It’s necessary to notice that Polygon has launched a raft of latest upgrades on its community not too long ago.

A brand new change

Polygon is again on the value charts after it launched new options to enhance person expertise. MATIC, at press time, was buying and selling at $0.56 after eyeing a 2.3% push during the last day.

It noticed a progress of 10.5% within the final seven days. A part of the rationale for Polygon’s features is the discharge of latest options on its community.

The corporate posted an update on its weblog not too long ago briefing on the matter. Polygon has enabled a function referred to as “liquid staking” on its community. It will enable customers to stake their holdings and retain the liquidity of the tokens.

Wanna know the way to stake your $MATIC? 👀
Liquid Staking is an efficient possibility.

It lets you maximize capital effectivity by tokenizing your stake.

It has a variety of further advantages, in addition to dangers. Be taught extra👇https://t.co/2TYd9Q4orh

— Polygon – MATIC 💚 (@0xPolygon) July 6, 2022

Polygon has additionally launched information suggesting the expansion of the community amongst different dApps. Throughout this week, Good Ghosting and Slingshot entered the highest 20 performing dApps.

The corporate has shaped alliances with a number of neo-banks to allow the Web3 bridge. The content material on its weblog learn,

 “Neobanks’ participation within the Web3 house also can encourage enchancment in governance schemes, together with industry-grade codes and self-regulatory instruments.”

One other replace pertains to WOO community which has launched its multichain DEX on Polygon. It will enable Polygon customers to entry the decentralized alternate in a seamless vogue.

However, right here’s the catch

Polygon suffered a DNS hijacking in the beginning of the month on its public RPC gateway. The assault compromised management over a number of providers on Polygon’s community.

Properly, the assault didn’t have an effect on the primary Polygon PoS community over its course. Nonetheless, assaults equivalent to this may result in a unfavourable impression on the cryptocurrency.

MATIC might have dodged a bullet here-on however for any sustained progress, there’s a want for Polygon to safe its community. Given the sophistication of attackers, community safety might be essential sooner or later for crypto.