I've been seeing some talk here and there about a project on Polygon called KLIMA. I've seen it mentioned in Leofinance discord a few times, and also around twitter. It seems to be playing in the environmental/carbon space. Having a little crypto play money to dabble with, and needing to get some practice on Polygon (a network I have never used before), I decided to FOMO in a little. This is definitely not financial advice, I haven't really researched the project in detail. However, some of my best crypto investments have come from jumping in first, and then learning about the project in depth afterwards.

I also feel the need to learn my way around Polygon, with the CUB platform that will come there, and in particular having Hive account@spinvest funds I will need to competently manage on there. I hate walking into something without experience when it is other peoples funds, and the Hive account@spinvest.leo account will have a decent airdrop to manage on the upcoming POLYCUB platform.

Setting up Polygon.

I found it pretty simple to add the Polygon network into my Metamask. The Klima dapp makes it real, easy. Just hit the connect wallet button, and it steps through adding Polygon to your Metamask simply. Anyway, next step is obviously to fund my wallet with MATIC - the native token of Polygon. I shift my liquid "play money" to Binance, and trade it through to MATIC. I've decided to put $500 in to this, to give it a go, and satisfy my FOMO without committing significant funds.

The Klima project has this starters guide which I would recommend. This post is not really meant as a detailed guide, more just my recording my experiences as I go. Anyway, with MATIC now acquired, I move on.

Next, obviously I withdraw my new MATIC from Binance to my wallet. Pretty straightforward process.

Buying KLIMA

The guide listed above gives several different options. However, I figure buying on Sushi seems like the way to go. I go ahead and connect my wallet, and then add the KLIMA token address to Metamask. I then go to swap 250 MATIC to KLIMA. The first time I try, it fails. I try again and it fails a second time. I wait a little while, and come back to try again. Error messages (about the gas or something - twice), and then I refresh and re-connect everything. Try again and the transaction fails again.

I get frustrated, but try again. This time, before I swap, I increase the slippage tolerance to 1% from the default 0.5%. I then try the transaction again, and increase the gas settings manually while I am at it. Finally, success, the transaction works and I have successfully swapped my 250 MATIC for 0.216 KLIMA.

So now, my little KLIMA stake has been made. Here is what the screenshot looks like:

I don't know where this 35,250% APY will be appearing. Maybe it is auto-compounding, maybe the "Time to Rebase" thing is important. I will update this post in a few hours once I see what happens at that time. It is a foolish move to have invested in this project without really knowing how it works, but sometimes the best way to learn is to just jump in the deep end and figure it out as you go.

Anyway, watch this space, I'll update after this "rebase" and let you know what happens.

Overall, first impression of Polygon is not great. The repeated failed transactions where a poor UX. Maybe I was just unlucky, and it'll be better. Time will tell.

Thanks for reading, like I said I will edit extra info into this post once I see what happens. For the record, the price of KLIMA at the moment is $2160.64.

JK.

P.S. Really, really, really not financial advice, I don't have any idea if this a good investment, I'm just playing around.

Edit 1.

So, the first Rebase has happened, and here is how it looks now:

So, I earned 0.0012 KLIMA in a few hours. Nice. Auto-compounding on a 7 or 8 hour basis with such a high APY looks like fun. I'll keep you update