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Stake Polygon with Kiln, enterprise-grade staking
Polygon
What is Polygon?
Polygon is a Proof-of-Stake sidechain bringing more scalability and flexibility to Ethereum, addressing its scalability and transaction cost issues.
Polygon offloads Ethereum layer-1’s traffic by issuing transactions on the sidechain. They are then confirmed through Polygon validators and on Ethereum through batched transactions.
What is staking?
In a Proof-of-Stake blockchain such as Polygon, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded while doing so.
With MATIC staking, users lock MATIC to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, gaining a reward in the process.
Why should you stake your assets?
Staking generates one of the safest and most predictable ways to get rewarded in the crypto space. It is the most natural reward feature in crypto as the value originates from the blockchain native currency inflation and a share of transaction fees.
You can stake your MATIC as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn, while contributing to blockchains decentralization
- 3Bring new opportunities by enabling your users to earn staking rewards
What are the rewards associated with staking MATIC?
As an incentive for helping to safeguard the network, you can earn up to 5.61% GRR* from your delegation on Kiln’s Polygon validator.
(source: https://protocolstaking.info/)
Why should you stake your MATIC with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake MATIC, and to white-label MATIC’s staking functionality into their offering.
Our platform is API-first and enables fully automated validators, rewards, data and commission management.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly:
- Stake MATIC in 1 click
- Manage all their MATIC stakes and rewards from a single dashboard
- Keep custody of your assets, Kiln is non-custodial and work with existing custodians solutions e.g.Fireblocks
- SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
Protocol Card
Token
MATIC
GRR
4-6%
Number of live validators
100
Consensus
DPoS
Looking to stake MATIC?
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Stake Polygon FAQ
What does Proof-of Stake mean?
Proof-of-Stake (PoS) is a type of consensus mechanism used to validate cryptocurrency transactions. Through PoS, validators can contribute to the block production of a chain while keeping environmental concerns to a minimum, an increasingly large issue in Proof-of-Work.
By staking capital rather than energy, validators risk losing a portion of their value and future potential for staking by misbehaving while creating blocks. This incentivises collaboration and fair practices while validating information in a similar way that PoW has with incentives and punishments to curtail malicious activity while creating consensus.
What is the role of Polygon validators?
Polygon validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with MATIC tokens for securing the network and passing transactions.
How much can you earn by staking MATIC? When will I receive MATIC rewards?
MATIC staking GRR is currently 5.61% at the time of writing this article. MATIC GRR may be subject to change in the future.
Does Polygon network have transaction and gas fees?
Yes Polygon has both transactions and gas fees. For most transactions, fees are less than $0.002, even during high-traffic periods.
What are the risks associated with staking MATIC?
At the moment, slashing penalties are not yet activated on Polygon, currently it’s not possible to lose delegated tokens because of a validator double-signing. Slashing penalties will be implemented at a future time.
Find more about how Kiln maintains a strong monitoring process and mitigate downtime and slashing.
Is there a minimum and maximum amount of MATIC to stake for Polygon?
You can stake Polygon’s MATIC token with as little as 1 MATIC. You can unstake and withdraw from 2 MATIC rewards.
Do I maintain custody of my MATIC tokens? Is MATIC staking non-custodial?
When you delegate your MATIC token from your wallet (ideally a Ledger hardware wallet) to a validator such as Kiln to receive staking rewards, you keep full custody of your funds.
What is the lockup period to stake Polygon? When can I unstake and withdraw my MATIC?
It takes 9 days to unstake your MATIC. During that time, you will not receive rewards. Once the 9 days pass, you can withdraw your tokens from your wallet.
What is the average block time on Polygon?
The average block time on Polygon is 2 sec, meaning a new block is produced every 2 second.
What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
In the context of Proof-of-Stake blockchains, the gross reward rate (GRR) refers to the total or gross amount of rewards earned from staking before deducting any fees or expenses. This is a reward rate that fluctuates with the operations of the protocol and the performance of validators, it is not set by Kiln. The net reward rate (NRR), on the other hand, takes into account the deductions or expenses, providing a measure of the actual rewards received after subtracting fees or costs.
Where can I learn more about Polygon?
There are many existing resources but we invite you to visit Polygon's website.