Matic is a leading cryptocurrency wallet and blockchain solution provider, it solves the problem of speed, complexity and has an amazing user interface.
Matic aims to simplify the complexity of interactions between users and the blockchain, avoid slow confirmation and high gas fees. Matic does this through its adoption of the adapted version of the Plasma framework, which allows it to process thousands of transactions per seconds, in fact, it will process millions in the nearest future.
Features of Matic that makes it so great
- Scalability
- High throughput
- Security
- Asset inteoperability
- One step DeFi platform
- User experience
Some call Matic Ethereum 2.0, fitting too considering its amazing features.
Stake With Matic
Matic in its bid to make users experience better and worthwhile is launching the staking option on mainnet today, June 29th, 2020. I don't want you to miss out of this great opportunity, so I'll share with you how you can partake.
As you know, HODLing is good, but STAKING is even better, so let me familiarize you with some terms you will come across staking with Matic.
Staking: This is the process of participating actively in transaction validation on a proof-of-stake (PoS) blockchain. On such blockchains, having a minimum-required balance of a specific cryptocurrency allows you validate transactions and earn staking rewards from such transactions.
Delegator: In the Matic ecosystem, a delegator is a token holder, someone who has (bought) some Matic token and is willing to stake for rewards but unable run a validator node of his/her own. The delegator delegates their tokens to a validator and get part of their revenue in exchange for their delegated tokens. Therefore a delegator gets part of the validator's revenue and and share the risks too. To become a delegator on Matic, you need a minimum of 1 Matic token. Great, everyone can partake!
Validator: A validator is a participant who locks up tokens in the network and runs validator nodes in order to help run the network. They get commission from the delegator. More info here
How to Stake
Sign up/sign in to the staking dashboard
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 you 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:
https://blog.matic.network/how-matic-token-holders-can-participate-in-staking-on-matic-network/
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