You are viewing a single comment's thread from:

RE: L2 withdrawals from CEXs (Crypto.com)

in LeoFinance3 years ago

Ethereum ERC20 tokens can be used (LP and all of that DeFi) stuff on Polygon. If you don't really have a use for the tokens, then there isn't too much difference leaving them on Crypto.com or Polygon (other than the philosophical aspect of having your own tokens in your own hands). There is no guarantee which L2 or L2s will be dominant or if projects migrate mainly to another chain (although Ethereum is a long way ahead at the moment), so there is the risk that you might need to migrate again if Polygon doesn't prove to be a good way (I think it uses Plasma PoS, and wants to migrate to a proper rollups solution having bought out Hermez).

Matic tokens are staked as part of Plasma on the Ethereum MAINNET, so less use on the L2.

Sort:  

Ummm. Sounds a bit beyond me. Seems I might as well stay on Crypto.com and accept the fees if I want to move on.

Thanks for the extra information.

!PIZZA

Posted Using LeoFinance Beta

Sorry, I just realised I might not have been completely clear. On Polygon, MATIC is used to pay for transactions. Other L2s still keep ETH or DAI.

@bengy! I sent you a slice of $PIZZA on behalf of @gillianpearce.

Did you know you can earn $PIZZA through Hive-Engine Diesel Pools? (4/10)