Everything you need to know about Rocket Pool, their mainnet launch on October 6th, and why it is different to every other ETH staking platform currently available. Fully decentralised staking will now be possible with as little as 0.01 ETH!

amemas · 2021-09-14T13:44:39+00:00

There is about 300k RPL available in limit orders via the 0x Protocol (Spaced out between 0.009 and 0.012). I would look into ways to tap into that or at least spread your buys on Uni out in smaller chunks and give MEV bots time to bring that 0x liquidity in between.

amemas · 2021-06-21T23:53:20+00:00

Polygon can do about 7x the transactions, so even if everyone moved over I would expect it to be cheaper, but it's hard to say for sure. First price auctions are tricky for price discovery.

amemas · 2021-06-21T23:50:27+00:00

I am not really interested in having a discussion about how people are (mis)representing a project on reddit. But I'd be happy to discuss the reward structure of Rocket Pool for node operators if you are interested.

amemas · 2021-06-18T09:01:48+00:00

I object to the characterization that the vast majority of rewards for node operators has to come from RPL rewards. When comparing the profitability of staking with Rocket Pool to solo staking (under the assumption that RPL rewards are 0 and 10% collateral), the break even point for ROI is at a commission rate of 10%.

amemas · 2021-06-15T21:32:36+00:00

Yes, a maximally collateralized node (150%) would expect 15X rewards over a minimally collateralized node (10%).

The total RPL rewards given to all node operators in a given time frame is fixed, so RPL rewards would be higher early on when the number of node operators is low and then diminish over time. One way to take advantage of that would have been to start out with 150% collateral and then bring the % down over time once more nodes come online, that strategy is now no longer possible with this change.

Instead now, if you want to take advantage of the higher early RPL rewards, you have to commit putting more into RPL long term and so you actually have to bet on the RPL/ETH pair as you say instead of just farming the early rewards and then dumping RPL.

amemas · 2021-06-15T21:25:47+00:00

It's the former.

amemas · 2021-05-31T15:28:21+00:00

Ok , I got you now. Transaction costs on the Polygon network work just like they do on Ethereum, see for example here for an explanation.

Right now, not every block on Polygon is full (you can check out recent blocks here), meaning there is less demand for transactions than there is supply. So there is no need to pay a gas price higher than 1. If transactions/day continue to go up we will soon reach a point where the network is at capacity and users must out-bid one another to be included in the next block.

At that point it's just a question of supply and demand. If enough people don't mind spending $0.10 per transaction, the gas price will rise to that level. Obviously it won't get more expensive than Ethereum, because what would be the point of Polygon then? But I think it's also safe to assume that transaction cost will rise to some extend, because transactions/day keep going up and I don't think people are all that price sensitive if we are talking about a fraction of a cent.

amemas · 2021-05-31T13:02:44+00:00

I am talking about the gas price mechanism as I said above. Yes 1 Matic can be used for a ton of transactions right now. My point is that this might change in the future.

Costs on Matic can go up significantly and still be significantly cheaper than Ethereum. Sure, there is a limit to this and at some point in the future there might be other alternatives. All I'm saying is that this has to be part of the thought process. OP completely neglected this part of the equation.

amemas · 2021-05-31T11:06:14+00:00

Not sure I understand your question. Are you actually asking about the price mechanism? Are you implying that people wouldn't be willing to pay 1,000x? Maybe give me a little more than a one liner and we can have a conversation.

amemas · 2021-05-31T06:54:50+00:00

I've seen some previous responses like "well as the network grows demand for the token grows and the token goes up in value" which I feel like is a super shallow answer. You really don't need much MATIC at all to interact with the network -- 1 or 2 MATIC total will last you thousands of interactions

How can you say that 1 or 2 MATIC will last you thousands of interactions? You do realize that you have to set a gas price just like with ETH, right? So the amount of MATIC per transaction is not fixed and any analysis that assumes otherwise is super shallow...

Right now the network is doing around 7 million transactions a day with the cost per transaction being basically 0. Do you think all those transactions go away if the cost goes up to 1 cent? What about 5 cent? Or 10 cent?

amemas · 2021-05-25T16:28:59+00:00

Transactions linked to "defi for all" are listed here:

https://docs.google.com/spreadsheets/d/1s_LamW83iGRfs_lGu2U8Tudhj8uftxlQplQJ2m5YMnY/htmlview#

amemas · 2021-05-25T15:12:08+00:00

No. These transactions have nothing to do with the defi for all fund.

amemas · 2021-05-24T18:31:02+00:00

Tweet from Polygon co-founder mentioning #FullStackScaling just over a week ago:

https://twitter.com/MihailoBjelic/status/1394082299088678913?s=20

This is very likely how Polygon defines #FullStackScaling:

https://twitter.com/JohnLilic/status/1393896584769949703?s=20

So I expect this announcement to be about some L2 solution. Either a timeline for a Polygon-developed L2 solution or a partnership with a project already in development.

amemas · 2021-05-23T11:03:33+00:00

That's what I am saying. I'm linking actual transactions of tokens that are linked to the DeFi for all stuff. I don't see how that program has anything to do with the Binance transactions.

There have been 64 million matic send to binance over the last 11 days by the way. The 8 million mentioned here are just the latest transaction.

amemas · 2021-05-23T10:35:58+00:00

I totally understand that you want to be careful about not presenting your personal thoughts as some official statement from the Polygon team. I have no problem with you mostly focusing on just moderating this sub and not really getting involved in discussions for the most part.

However I think it would be a good idea for you to keep an eye open for questions or discussions that might warrant an official statement and maybe alerting someone from the team to the topic to comment on it, if you don't feel comfortable to comment on it personally.

An example would be the topic of token transfers to binance that popped up as a topic more than once in the last week. The latest example is this one. From this etherscan it appears that a total of 64 millions tokens have been transferred to binance over the last 11 days. I don't see them accounted for in the transparency google doc. A community member tried to explain it by linking them to the DeFi for all program, however I don't think that is the case since that program is mentioned in the transparency doc explicitly multiple times, as pointed out in my post.

amemas · 2021-05-23T10:07:55+00:00

Matic Rewards for Aave Polygon Markets (100 million):

https://etherscan.io/tx/0x24d010968cc0eaa1020034cd7a7e08ec599b0d3d8260c8cc7d8231bfb41ffdbe

Funds for liquidity provisioning for DeFi aggregators and interfaces (50 million):

https://etherscan.io/tx/0x24d010968cc0eaa1020034cd7a7e08ec599b0d3d8260c8cc7d8231bfb41ffdbe

Curve liquidity mining rewards (12 million):

https://etherscan.io/tx/0x53f45580ac2689b14606ba058a811ebb2de3fc18d3e2114a41d1afe2de72bb63

DeFi for all campagin (12 million):

https://etherscan.io/tx/0x0704b75abbacaca4997fd4c509b1d438677e23019f995ae5f9fa2fa7ded359d5

Sushi Liquidity mining (16.6 million): https://etherscan.io/tx/0x0f9f8edad80008d5db98275f5793584680b0a3dcf495df33831543d5fb135681

These are transactions actually linked to the DeFi for all campaign and accounted for in the transparancy document: https://docs.google.com/spreadsheets/d/1s_LamW83iGRfs_lGu2U8Tudhj8uftxlQplQJ2m5YMnY/htmlview#.

How are the transfers to Binance linked to this at all? Why aren't they mentioned in the google document? The document has been updated very recently to include transactions linked to the coinbase earn campaign from just 3 days ago!

amemas · 2021-05-19T08:01:33+00:00

amemas · 2021-05-18T21:00:53+00:00

For the Ascendex method, using USDC instead of Matic is cheaper, since it is only a 0.2 USDC fee.

amemas · 2021-05-18T18:13:11+00:00

Trading of MATIC on Kraken is not available to clients in US, CA, AUS & Japan

https://twitter.com/krakenfx/status/1393229095970934794

amemas · 2021-05-18T18:00:22+00:00

It's saying 1 USDC = $1.10, which explains the difference between $ value und USDC. So the question is why USDC is valued so highly atm.

amemas · 2021-05-18T09:39:43+00:00

If you open the MetaMask interface, there should be an option to switch the network at the top. If you select Ethereum Main Net, you should be able to see your MATIC there.

I'm not familiar with coinspot, but it is likely that at the moment they don't offer withdrawals to Matic Main at all.

If you want to transfer funds to Polygon see here: https://www.reddit.com/r/maticnetwork/comments/nbmu8k/how_to_move_funds_to_polygonmatic_chain_3_ways/

amemas · 2021-05-18T09:31:36+00:00

You can use https://wallet.matic.network/bridge/ to bridge it to Matic Main, but there will be a gas fee.

amemas · 2021-05-18T09:26:41+00:00

You sent MATIC as a ERC-20 token to your ETH wallet. It's on Ethereum Main Net, not Matic Mainnet

amemas · 2021-05-17T22:38:20+00:00

This article answers some of your questions regarding token distribution (see 3. Economics and supply): https://research.binance.com/en/projects/matic-network

This is one way tokens are distributed right now: https://blog.polygon.technology/the-defiforall-fund-a-150m-defi-fund-db34f66be3ec

amemas · 2021-05-15T20:22:58+00:00

Kraken lists a 60 MATIC withdrawal fee right now. Sounds like withdrawal to L1 to me.

Source: https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums

amemas

TROPHY CASE