Polygon Partners With BitGo After a Contentious Hardfork Upgrade

20 January 2023, 04:56 GMT+0000
Updated by Kyle Baird
20 January 2023, 04:56 GMT+0000
In Brief
  • The partnership between BitGo and Polygon will allow holders to earn rewards by staking ERC-20 MATIC.
  • Polygon’s recent Delhi hard fork caused a stir within the crypto community.
  • The governance facilitator at Polygon addressed the concerns around the execution of the upgrade.
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Polygon partnered with BitGo to provide staking capabilities for MATIC holders. While the governance facilitator addressed the recent controversy.

The Polygon network is known for its various strategic partnerships, building throughout the crypto winter. Recently it announced a partnership with crypto custody provider BitGo that will enable staking facilities for ERC-20 MATIC holders.

BitGo Opens the Door for Polygon

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

Chen Fang, the Chief Operating Officer at BitGo, said, “By offering more features for MATIC, we’re providing investors with a safer way to custody their assets and providing platforms with the tools they need to build the future.”

The Delhi Hard Fork Sparks Controversy

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

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Polygon changes voting screenshot
Polygon Changes Voting Screenshot Source: Polygon Forum

However, Mateusz Rzeszowski, the governance facilitator at Polygon, wrote a Twitter thread to shed more light on the execution of the upgrade. As of Jan. 18, all the active validators executed the Delhi hard fork. According to a Polygon forum, the 3.5 billion staked MATIC coins validate the chain’s upgraded version.

The price of MATIC is trending downward this week. However, in the past 24 hours, there is not much action on the asset’s price. It’s currently trading at $0.9526, down 0.4% since the daily open.

Polygon (Matic) price chart by BeInCrypto
Source: BeInCrypto

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Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.