Polygon's Lost its Appeal!

in voilk •  5 months ago

    Having recently taken some Matic-Swap.Hive out of the BeeSwap pool because of the BXT rewards having stopped, my plan was to transfer those funds to some kind of Matic-Eth or Matic-stable pool on a relatively reputable better established DEFI yield aggregator such as Beefy Finance.

    However on looking at my options I was a bit underwhelmed at how Polygon has been performing against other chains...

    If you look at the medium term chart, people clearly aped in during that crazy DEFI summer of 2021. However since then it's just been in decline in terms of TVL, with even Cardan's DEFI making a move against it recently...

    Screenshot (352).png

    Polygon is now only 6th in terms of TVL (we exclude TRON as that's just a scam), and so I really am wondering if it's had its day....

    Screenshot (353).png

    Looking at some of the options on BEEFY finance, I think, 'yeah, I see those returns of >100% but they're staked to a protocol that I've never heard of and I'm sure if I look at the conditions I'd find I'd have to stake VERY long term to get them, or there'd be some other lock condition on the rewards that mean these just aren't real....

    Screenshot (349).png

    So what to do instead...?

    Well, I did buy some MATIC, but then a day later I promptly swapped that for COTI, which I've yet to explore, and maybe not the best time to buy, but it seems like a better punt ATM!

    And I also just bought some BTC and LTC, and I'll probably pool that asymmetrically in a RUNE pool, so swap half of each for RUNE.

    However NB I did try to pool some of that LTC but Thorswap said NO, so I'm holding off doing that for now until I investigate further...

    Then I degenned into some Squidgro, sure that'll do a 100 times in the next 6 months....

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