Overview
Last updated
Last updated
Polygon’s consensus mechanism is built on top of Ethereum, meaning that all Polygon staking operations take place on Ethereum mainnet using MATIC ERC20 tokens.
Staking MATIC brings many benefits, including:
High yield : Polygon leverages (D)PoS (Delegated Proof of Stake) as its consensus mechanism. There are up to 100 validators ensuring the security of the Polygon network, and any MATIC holder can become a delegator by bonding their assets to their preferred validator. By doing so, delegators can earn up to (i.e. 3% adj.).
Low risk : Polygon manages delegations in a trustless fashion, via a robust set of smart contracts. Additionally, staking via Ledger Enterprise empowers you to review your staking operations in a meaningful fashion on trusted display thanks to our ClearSign framework on supported smart contracts.
Simplicity & scalability : you can use Ledger Enterprise to stake directly on Polygon Staking applications, from the UI. Should you want to automate your staking workflows to scale your operations, you can also leverage our Public API to perform your delegations and withdrawals programmatically. You can find out more about our API .
There are different operations that you can do when delegating MATIC:
Delegate your MATIC ERC20 to a validator; once the transaction is completed, your delegated MATIC will start earning rewards in proportion to the amount that you bonded. There is no bonding period, and your assets will start to generate yield for the upcoming checkpoints.
Re-delegate : you can choose to delegate more MATIC to a validator you are already delegating to; this will trigger a withdrawal of your current available rewards. Once the transaction is completed, you will start earning rewards in proportions to your newly accrued delegated assets.
Withdraw your rewards : once you have earned at least 2 MATIC in rewards, you will be able to withdraw them. There is no unbonding period for rewards, and they will be sent back to the wallet address from which you initiated the delegation.
Restake your rewards : once you have earned at least 2 MATIC in rewards, you can directly restake your rewards to accrue your staked position and generate more yield. This is useful, especially to safe gas fees since you only have to perform one transaction to restake said rewards.
Undelegate : at any point, you can withdraw your staked assets (and associated rewards) to the wallet address that initiated the staking position. The undelegation requires a 80-checkpoint (roughly 2 days) unbonding period. Assets being withdrawn and in the 80-checkpoint time period will be flagged as ‘unbonding’.
Claim unbonded : to finalize the undelegation, you can claim your unbonded assets, i.e. assets that have undergone the 80-checkpoint unbonding period. Once claimed, your delegated assets and associated rewards will be sent back to the wallet address that initiated the initial staking position. Your MATIC balance will be accrued accordingly.