The Polygon Twitter team just announced on Twitter that Polygon would become an algorithmic stablecoin pegged to $1 USD and the price will be backed through an ETH swap. The swap feature hasn't gone live yet but Matic promptly shot to $1 in anticipation of being able to trade 1 Matic for $1 USD in ETH. Both Do Kwon and Justin Sun immediately responded allbeit differently when they heard Matic would be supported via an algorithmic Peg to ETH. What's going to happen next for Polygon isn't entirely clear but tons of investors are angry about their losses after buying above $1. Edit: The Polygon team just responded to Do KwonStay tuned to the official Polygon Twitter Account for more information on when the Eth to Matic, swap is live. [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments