Polygon to Delegate $189M Worth of MATIC to Bitfinex for Staking

Polygon to Delegate 9M Worth of MATIC to Bitfinex for Staking
Cryptocurrency exchange Bitfinex said it will receive $189 million worth of Polygon’s MATIC tokens to sponsor enhanced staking rewards for users.According to a blog post, Bitfinex will receive 90 million MATIC for the new staking program. Polygon is a “layer 2” scaling tool for the Ethereum blockchain, designed to speed up and reduce the cost of transactions.At press time, MATIC was trading at around $2.07, down 1.1% over the past 24 hours. The token’s price has slid 13% in the last seven days.Crypto staking is a process used to verify transactions on a blockchain and secure the network. In Polygon’s…