Matic Staking Made Safe And Easy With Cryptostake
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.
Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.
What is Polygon?
In a nutshell, Polygon bills itself as a layer-2 network, meaning it acts as an add-on layer to Ethereum that does not seek to change the original blockchain layer. Like its geometric namesake, Polygon has many sides, shapes, and uses and promises a simpler framework for building interconnected networks.
Polygon wants to help Ethereum expand in size, security, efficiency, and usefulness and seeks to spur developers to bring enticing products to market all the quicker.
After the rebranding, Polygon retained its MATIC cryptocurrency, the digital coin underpinning the network. MATIC is used as the unit of payment and settlement between participants who interact within the network.
How Many Polygon (MATIC) Tokens Are There in Circulation?
MATIC tokens are released on a monthly basis. MATIC currently has a circulating supply of 4,877,830,774 MATIC tokens and a max supply of 10,000,000,000 MATIC tokens.
Team tokens: 16 percent of the total supply.
Advisors tokens: 4 percent of the total supply.
Network Operations tokens: 12 percent of the total supply.
Foundation tokens: 21.86 percent of the total supply.
Ecosystem tokens: 23.33 percent of the total supply.
Stake MATIC Safely With Cryptostake
By choosing CryptoStake, stakers not only benefit from competitive MATIC staking APY but also enjoy an array of additional features that make the staking experience seamless and secure.
Moreover, to assist users in navigating the complexities of tax reporting related to staking rewards, CryptoStake offers tax assistance. Users can rely on CryptoStake's tools and support to streamline their tax reporting process, helping them to stake Polygon safely and stay in compliance with tax authorities.
How does Matic staking work?
Matic, now known as Polygon, is a Layer 2 scaling solution for Ethereum that provides faster and cheaper transactions using sidechains. Staking in Polygon involves locking up MATIC tokens to support the network's security and operations, and in return, stakers earn rewards.Staking in Polygon helps secure the network while providing an opportunity for MATIC holders to earn rewards. By choosing a reliable validator and understanding the staking process, both validators and delegators can maximize their returns and contribute to the network’s stability.
How much will you earn by staking Polygon?
Earnings from staking Polygon with CryptoStake vary based on factors like the amount staked and current APY, currently up to 5%. Use CryptoStake's rewards calculator for personalized estimates.
How do I stake my Matic?
Stake your Polygon by downloading the CryptoStake app, creating an account, depositing a minimum of 1000 MATIC, and initiating the staking process in one click.
