The Matic staking matic went live today, and we are excited about this milestone for the Matic Network. time to stake some matic and earn, here is a little guide on stake your matic tokens.
This is a step-by-step guide to help you become a delegator on the Matic mainnet. There are no prerequisites to becoming a delegator on Matic. All you have to do is have an Ethereum account.
You can also find the below information in our documentation here: https://docs.matic.network/docs/validate/delegator
Note: You need to have your funds on the main Ethereum network in order to delegate your tokens. If your tokens are on any other network/testnet or the Matic mainnet, then you won’t be able to delegate your tokens for staking on Matic.
Early Birds (who stake before the network bonding rate touches 10%) stand a chance to get an APR of ~100% APR. The yield changes as the bonding rate increases.
If you would like to stake MATIC tokens without running a validator node, you’ll simply delegate them to an existing validator (a simple task) during a matter of seconds using the staking interface (UI) or a compatible wallet that supports staking. the great side of delegation is that you simply do not have to launch your own node, and you’ll even be ready to stake from a daily PC, Android, or iOS phone without expending valuable resources like RAM or processing power (when mobile staking is unrolled within the future).
On the opposite hand, the validator you stake with has got to cover the value of resources required by their node. this suggests that you simply are going to be paid some of that validators’ rewards rather than the complete amount. However, validators do need to compete with one another to supply competitive rates to delegators.
Find a validator that gives generous rewards, and which you furthermore may trust to secure the network. you ought to also choose a validator that does not have an excessive amount of voting power over the network and one with a high uptime rating (this may be a great way to reward reliable validators).
As is that the case with mining, staking rewards are generated via inflation (the creation of latest tokens) and transaction fees. Inflation may be a concept that has actually driven some people far away from fiat currency to cryptocurrencies. However, one among the best issues with fiat currency inflation is excessive, unchecked currency generation done on a whim (something that always balloons out of control during economic recessions).
How to Stake
Sign up/sign in to the staking dashboard (https://wallet.matic.network/staking)
- Select your option; delegator or validator
- As a delegator, you need to connect your account to metamask or wallet connect by clicking the login button in the top right corner,
- Once signed in, you are ready to become a delegator, congratulations for getting this far!
Now that you are signed in, see that become a delegator button? Yes, click it.
- Done, good job. Now, you will see a list of validators and a delegate option in front of them, select your choice. You can check each validator’s statistics by clicking on them, this should help make your choice. (By delegating to Matic Foundation, you won’t be charged commissions).
You have been redirected to a page where you will input the amount you want to stake, fill it.
- Once done, click Delegate now
- Tada! All done, enjoy your staking rewards.
- You can access your dashboard to check your staking rewards, withdraw rewards, or stake your rewards.
You can only stake to the Matic Foundation nodes for now.
References: