Guide to Staking Matic

MATIC is the Polygon Network’s native token (different than Poly Network which was hacked) and can be purchased from most major exchanges. It also has a roll as a layer-2 solution for ETH which reduces transaction costs. Currently 37% of $MATIC are staked, earning 13% APR.

How to Stake MATIC

 Exchanges

Most exchanges do not allow you to stake MATIC directly. Binance is one exchange that does have MATIC staking pools, these traditionally have been locked fixed duration pools.

 MATIC Network Staking

The easiest way to stake MATIC is directly through the Polygon Web Wallet. It involves a few more steps than staking directly through an exchange and some ETH for gas.

1. Move MATIC from your exchange to a web3 browser extension Ethereum wallet (like MetaMask). You can also move MATIC to your hardware wallet, but be aware that some wallets like Ledger are not compatible with the Polygon Network (Trezor is compatible)

2. Go to the Polygon Web Wallet and connect your wallet (like MetaMask) via the 'Login' button in the upper right

3. Scroll down to see a list of validators.

4. Choose a validator and click the 'Delegate' button. If a validator is not "honest" they lose tokens as a penalty, so it does matter what validator you select.

   1. Make sure that they are 100% under the 'Checkpoints Signed' tab

   2. Make sure that they have a high number of staked tokens (my minimum is 10 million)

   3. Choose one with 0% commission

      1. Stakin is a delegator that currently has ~15% of staked MATIC and they charge 1% commission. I consider them to be on of the "safest" validator in the network and the cost is low. If you choose a validator with a commission, this would be the one I would select

      2. Allnodes is a 0% commission delegator that has ~7% of the staked MATIC

5. Enter the amount of MATIC you want to stake in the pop-up window that appear, press ‘Continue’.

6. A notice appears, this grants the Polygon Network access to the MATIC staking procedure. Check that your wallet is connected to the Ethereum Mainnet (not the BSC network for all the shitcoins you have been buying), click ‘Confirm.’

7. A ‘Delegate’ button in a window appears, click ‘Delegate’. There is an ETH gas fee.

8. Your MATIC is now staked

This process might seem complicated the first time that you use it, but it is rather simple and straightforward after you have done it once.