Notum wallet empowers you to buy Polygon (MATIC) with a credit or debit card securely and within a minute! Start your best Polygon investment right here, right now.
Polygon Rewards Calculator
How to stake Polygon? Step-by-Step Guidelines
Choose your crypto
Choose from a great variety of cryptocurrencies those you’d like to buy.
Enter the amount
Enter the amount of MATIC or fiat currency that you wish to stake.
Deals from various validators may vary. You can decide on whatever you believe to be most profitable.
Confirm the amount you want to stake sign the transaction to deposit your investments.
Easily receive profit
Once needed easily withdraw crypto your crypto profits and position.
About Polygon (MATIC)
Polygon is a sidechain scaling solution that works alongside the Ethereum blockchain and improves some aspects of it. Polygon itself was founded back in 2017 and was known as Matic Network. Polygon offers fast transactions and low fees, which solves the existing problems of Ethereum. The network can be described as a parallel blockchain that is faster than the main Ethereum blockchain. Thus, the main goal of Polygon is to help Ethereum with scalability.
It is important to note that Polygon is a layer 2 protocol that is not trying to replace Ethereum or replicate its functionality. On the contrary, he is trying to improve the network, reduce costs for developers and increase the number of users. "Currently, Ethereum can process 14 transactions per second (TPS)—while Polygon achieves speeds of up to 7,000 TPS." - Forbes. Among other things, the Polygon network has its own MATIC cryptocurrency.
What Is MATIC?
MATIC is the native cryptocurrency of Polygon, which underlies the network. This ERC-20 token, created on the Ethereum blockchain, is used to manage and secure the network, as well as pay transaction fees.
It is important to note that MATIC supply is limited and there cannot be more than $10 billion coins in circulation. There are currently about $7.9 million in circulation. Users can buy or sell MATIC on Coinbase and other exchanges. Moreover, MATIC currently supports more than 7000 decentralized applications.
Choosing Between Possible Options
To choose the best place to stake MATIC, take these factors into account:
- Security and reputation. The chosen platform should successfully work and have a history of secure operations. Don’t forget to read user reviews for getting the full picture.
- Annual Percentage Yield (APY). As in case with APR in banks, it’s important to compare APY on different platform. Also pay attention to risks and potential rewards.
- Simplicity and customer support. While some platforms may be too difficult to use, others are intuitive. Be sure the platform chosen has a good customer support you may contact in case of any issues.
- Staking lock-up period. Be sure the lock-up period meets your expectation, because some platforms require up to a year.
How to Stake MATIC? Instruction
- DYOR: Dive into the staking details below to ensure you fully comprehend the process, benefits, and potential risks associated with staking.
- Choose Your Stake Type: Decide whether you’d like to engage in traditional staking or liquid staking. The latter offers more flexibility, allowing you to trade your staked assets.
- Explore Staking Options: Notum provides staking options for various cryptocurrencies. Browse through to find the one that aligns with your chosen currency and staking type.
- Buy a Staked Asset: Once you’ve made your choice, proceed to obtaining the staked asset on Notum. Our platform ensures a smooth and secure transaction process.
- Monitor Your Staking: After staking, it’s essential to keep an eye on your investment. Use Notum’s intuitive dashboard to monitor your staking progress and returns.
How to Stake Polygon (MATIC)?
If you don't know where to stake MATIC, you can use the Polygon network itself. The Staking section on the site allows you to explore the benefits of using Polygon. For example, validators set their own fees for accepting delegations to their node. Also, Polygon is kind of eco-friendly as you don't need to use an energy-intensive computer to stake. As you know, “Polygon PoS chain is run on the Proof of Stake mechanism”. - Polygon. Thus, on the site you can choose the option “Become a Delegator” to make a profit and maintain the platform.
How Long Is My Staked MATIC Locked Up For?
MATIC staking lockup period can vary up to 90 days. If you are a validator and want to log out, then the tokens will need to go through an unbounding period, while the delegated tokens enter this period immediately after the unbound request. "Stakers can withdraw their tokens after the unbonding period ends." - Polygon.
How Do I Choose MATIC Validators?
The official Polygon website has a separate page dedicated to the validator. After you go there, the site prompts you to delegate MATIC to their top-performing validators. When choosing a validator, pay attention to the amount of MATIC staked, the commission they ask for, and the health status. Choose whatever you believe to be most profitable for you.
How Are MATIC Staking Rewards Generated?
MATIC staking rewards appear due to inflation in the Polygon network and transaction fees. Since the network charges a fee for each processed transaction, delegates are rewarded proportionally to their debt. It is important to note that the APR for MATIC staking may change based on network usage.
What Are the Risks of Staking MATIC?
As with any other crypto assets, MATIC staking can be subject to market fluctuation. Thus, the value of an asset can change, and staking does not guarantee a fixed income. Moreover, MATIC staking rewards can also vary and fluctuate depending on market conditions.
What Are the Tokenomics of MATIC?
Previously, Polygon was called Matic Network when the project was launched in 2017. The coin was named MATIC but was renamed Polygon in 2021. Basically, the token is used to pay transaction fees in the network and stake validator nodes. As of May 2023, the price of Polygon is $0.861314 and the token is ranked 10th most popular among all cryptocurrencies in the world according to CoinMarketCap. The market capitalization of the token is $7,980,894,158. Since the maximum number of MATICs that can be in circulation is $10 billion, and almost $8 billion is already in circulation, the remaining $2 billion will be unlocked in the next few years to pay for Polygon staking. “The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.” - CoinMarketCap.