Binance has become the latest wallet and exchange to offer support for $MATIC, the native token on layer 2 scaling platform, Polygon via the Trust Wallet, one of the biggest mobile wallets.
Binance users are now able to withdraw $MATIC from their Binance wallet directly to their wallet on the Polygon Mainnet. With a transaction fee of 0.1 MATIC, this now represents the cheapest route to transfer MATIC from Binance.
In addition, to Trust Wallet, one of the largest wallet apps, MyEtherWallet, is also adding MATIC to their respective services.
“Starting today, you can select Polygon from the dropdown list of networks in your MEW wallet app to send transactions, swap tokens, and explore Polygon DApps in the Browser right from your phone.”
The platforms are attracted by the opportunity for users to make use of the low gas fees that Polygon offers. They would also be able to perform transactions very quickly which would not only be useful for existing users but also attractive for new ones.
Polygon has been growing and expanding with more users and developers building on it. The network now supports over 500 dApps.
In recent motnhs, Aave and Sushiswap have similarly onboarded the platform citing incredibly low access fees and faster transaction times for their users with remarkable success.
Transaction volumes have also been growing with the average daily volume exceeding Ethereum volumes on some days. Gas fees are less than that on the ethereum network by 500 times.
$MATIC price currently stands at $1.02, rising from $0.8 seven days ago.