I looked into Polygon/Matic the past few days. It’s nice, I can send Matic to anyone who also happens to be on the Polygon-chain and it costs almost no fees.
Also getting funds from BSC to the Polygon-chain is fairly straightforward and affordable.
Then I looked into staking. That sounds really interesting at first.
Until I noticed that I have to
- send funds from the Polygon-chain to the ETH-chain
- pay (last I checked) around $200 just for the bridge.
- swap some MATIC to ETH for the fees
- pay more fees for the swap
- pay an additional fee for actually staking via wallet.matic.network
- and probably if I want to switch to another validator I will pay even more fees
- and best of all: all fees are payable in ETH, not MATIC.
So my question would be: why Polygon? I can just as well stake ETH, also at high fees and even save $200 for the bridge.
Or did I miss something here? Please explain.