There has been a lot of excitement around the Matic Network and the recent rebranding to Polygon. This has brought a lot of new, friendly faces to the chats and should be aware of the great incentives Matic has for staking!
Staking Matic on the Matic Network
Anyone can stake Matic, and there is no minimum amount. There are a lot of variables to consider when staking any coin or token, and Matic is no different. Weighing rewards vs availability is the biggest decision when deciding where to stake your Matic. Staking Matic on the Matic Network is relatively easy, and the coins are never out of your custody as opposed to transferring them to an exchange or company.
By now, after doing your own research on the awesome future ahead of Polygon, you've hopefully made the decision to buy some Matic and now you're looking to start earning rewards. To stake your Matic directly on the Matic Network, first you need to go to the staking homepage. This page gives you a lot of good information at the top, such as the current number of validators (out of a maximum of 100), how many Matic are currently being staked, total rewards distributed, current checkpoint interval (how often you will receive your staking reward), and much more.
Clicking the 'Become a Delegator' button, or just scrolling down, will provide you with a list of available validators to choose from along with some basic stats to include uptime, commission, and total Matic staked. Please note, all 7 Matic Foundation Nodes are being decommissioned and delegators will have to migrate their stake to a community validator.
Clicking the validator name or 'Delegate' button will bring you to the main delegation page. Here you have more information about the validator, such as the amount of self stake along with the total stake, commission, uptime percentage (which is also indicated by the Performance number in the top-right), activation epoch (at which checkpoint the validator joined the network), and number of delegators. Most validators have their website under their name which allows you to stay in contact with them and check for updates. For us at Vault Staking, we use publish0x to get updates out and will always give ample time before making changes to our validator. Rating validators is subjective, and each person has their own way to grade a validator. Some want the maximum rewards and will only chose a validator with a 0% commission. Some care about uptime and how long the validator has been on the network to ensure reliability (which you can find by comparing the activation epoch to the current checkpoint number). Some decide by seeing which validator has the largest self-stake or total-stake.
From here, clicking the 'Delegate Now' button will bring us to the delegation page. Enter the amount of Matic you would like to stake with this validator. In most cases, you would want to stake your full balance, which is noted as Account Balance under Your Stake. Click 'Delegate Now'.
After the transaction goes through, you will be greeted with a congratulatory note!
After 12 blocks, your account will be updated. Click 'Go to my account' to view your current stake and validators. Here you can see your Matic Balance in your wallet, your Total Stake across all validators, and any New Rewards you've earned since the last time you claimed rewards. Today, Matic has a roughly 26% APY return.
Hopefully this helps you get started staking your Matic and earning passive income. If you have any questions for me, about staking, or about Matic in general, feel free to post in the comments or you can always find me on the Matic Validators Discord server or DM me at AlgoRhythm#2931. Thanks for reading!