Staking - Polygon (MATIC)
Introduction
- On-chain staking utilizes the Proof-of-Stake protocol of applicable blockchain to generate rewards through a process typically called “staking”.
- Benefits of staking on MAX versus staking on other platforms:
1. ✓ Payouts once a week*
2. ✓ Generate predictable yield with crypto
3. ✓ Stake your crypto with a few taps from your MAX app
4. ✓ Unstake anytime**
Staking protocol
- Polygon aims to address Ethereum’s scalability as a Layer-2 solution. Leveraging Plasma and PoS to transfer the capabilities on Ethereum to Polygon to realize highly efficient user experiences.
- To date, the total value staked on Polygon surpasses 2.3 billion USD with a staking ratio of 36.27% and ranked the 10th in terms of market cap. The total value locked (TVL) on its DeFi projects is valued at over 1.3 billion USD, including well-known projects such as Aave and Uniswap.
- Audited by Certik.
Yield
- Generated from PoS activities.
- The expected annualized return is specified on the staking page in MAX App.
- Yield is paid once a week on Mondays.
Risk
- Assets are subject to losses if the private key of the validator is compromised.
- Rewards could be less than expected if the blockchain protocol contains design defects.
Fee
We collect 10% of the yield generated for our users. Users are eligible for a zero staking fee if opting to be paid in MAX Token.
Processing Time
- *Staking processing time: 2 business days. Once completed, the stake will begin to accrue yield.
- **Unstaking processing time: 4 business days. Only the stakes with “staked” status are eligible for unstaking.
-01.svg)