STORJ on Polygon?

Ideas & Suggestions
24

Which exchange accept ETH via Polygon ?

25

crypto.com does and im sure binance does

26

Are you 100% sure it is PoS on Binance. I can not found it.

27

sorry guess binance only accepts matic on polygon, crypto.com accepts eth on polygon and matic.

28

I confirm. So, it would be great to get STORJ over Polygon instead of zkSync or ERC-20. At least then you will be able to swap it for ETH then stake or spend it. All this with super low fees.

29

So on crypto.com I can buy Matic on Polygon and send it to my Polygon wallet?

30

Yes you could if thats what you wanted to do.

31

I want it not send via ERC-20 I will send it via PoS

32

You can also receive ETH on Polygon there, so if you can send your STORJ over Polygon, you can swap it to ETH and send it to this exchange for sure. The question remains - how to send your STORJ over polygon. Maybe it will work on some MetaMask address, if you just swap networks with the same wallet/account?

33

Please see also The Polygon L2 is several orders of magnitude easier from an end-user perspective
And you can vote there.

1 Like
34

See also

3 Likes
35

Hi there,

Iā€™m not sure, what the new integration of Polygon means. Could someone please explain?

As a somehow ā€œnewā€ supporter of Storj (10 months node), how can I benefit from this?

Thx in advance.

cc @TheMightyGreek

1 Like
36

It means that instead of paying $60 fees to receive your node earnings, you can pay $0.02 fees or less to receive your node earnings. How?

  1. Receive STORJ tokens over Polygon network instead of ERC-20 - ETH mainnet.
  2. Swap your STORJ tokens for ETH on Polygon.
  3. Send your ETH tokens to your exchange wallet, which supports Polygon network.
  4. Stake your ETH or load your exchange connected pre-paid card to spend it.

Simple? Yes? Cheap? Yes. Flexible? Yes. I mean when you receive your STORJ over Polygon, you can do whatever else you want with itā€¦ The transaction will be much faster and much cheaper. Thatā€™s the point. It seems to be even better than the zkSync solution because NO EXCHANGE SUPPORTS IT AND EVENTUALLY YOU HAVE TO PAY TOKEN ACTIVATION FEE AND TRANSFER IT TO L1 WITH INSANE FEE, WHICH MAKES NO SENSE FOR MANY. Why receive on L2 when you have to pay a fee, then also pay another fee to transfer it to L1 instead of just receive it to L1 or better L2 solutionā€¦ !? Rightā€¦ zkSucks should be itā€™s name instead.
So, vote up this here - The Polygon L2 is several orders of magnitude easier from an end-user perspective

1 Like
37

Thank you!

Iā€™ve understood, payout over polygon network is already possible? no?

already voted :wink:

38

Well I donā€™t think the all caps and zkSucks was necessaryā€¦ and neither was the asking for upvoting a suggestion. If you had actually clicked the link in @Bivvo 's post you would have seen that they just announced that polygon will be implemented.

As for the steps, depending on your exchange you may actually have to swap for MATIC instead of ETH as not all exchanges can receive ETH over polygon. So make sure to look for that first.

So, why is zkSync still an option? Well, the massive difference between polygon and zkSync is that zkSync actually ensures your ownership of tokens on the ethereum blockchain without having to send your tokens to L1. As a result, your tokens are just as secure as they would be on the ethereum main net. This is not the case with polygon. If you use polygon payouts you extent your trust scope to both ethereum and polygon and if either fails for some reason, your tokens are lost. At the moment, there is a place for both. Towards the future, validium/zkPorter will probably find the best middle ground between trust and scale and matter labs is already working on that. In my opinion polygon is not the best solution long term. And since I donā€™t plan to move my tokens often, I will stick with zkSync and collect my 10% bonus.

That said, more options is only good for SNOs. So I appreciate that another option has become available.

4 Likes
39

Can you please name a polyon dex that supports STORJ?

2 Likes
40

Anyone can add a trading pair on a Dex.

However, if the token pool isnā€™t very large, it wonā€™t support very many exchanges. So, a whale needs to join in on the funā€¦ and the initial pool needs to be set properly. If the pool is set incorrectly, the initial pool funds will likely be drained quickly.

Cross-chain DeFi may not work well until a large number of tokens are sitting on both chains.

A while back, I transferred some of my STORJ onto the Polygon network to test it. Right now, the Polygon wallet token swap says I can trade my $240 in STORJ for $0.0000000001 in MATIC.

This is due to a lack of liquidity in STORJ on Polygon.

1 Like
41

Also Polygon ends up in a fee disaster

42

Try now. Show screenshot as proof.

43

Anyone can check it outā€¦

Go to:

https://wallet.polygon.technology/token-swap

Sign in with your wallet on Polygon. You donā€™t need to have a STORJ balance on Polygon.

Enter in any number youā€™d like in order to show the exchange rate STORJ/MATICā€¦

800 STORJ ==> 3 * 10^-9 MATIC

This is a liquidity problem on Polygon. There are very few STORJ tokens on the network. And no working DeFi pools.

Screenshot_2022-01-15_10-19-24