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BNB What Is Polygon?
Polygon, previously known as Matic Network, is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. It provides scalable, secure, and instant transactions using the Proof of Stake (PoS) consensus mechanism and a modified Plasma framework. Polygon aims to transform Ethereum into a multi-chain system.
Is Polygon Staking Safe?
For the average user, staking MATIC tokens is as safe as simply storing them in your wallet. All transactions, whether in a wallet or staked, are processed by smart contracts and the blockchain without human intervention. Therefore, staking offers the same level of reliability and security as keeping tokens in a wallet.
Why You Need to Stake Polygon?
Staking is an integral part of blockchains operating on the PoS protocol. Let’s explore the main reasons users stake MATIC:
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Supporting the Polygon Blockchain: For the stable and secure operation of the Polygon blockchain, transaction validation is required, which is only possible with a large and decentralized volume of staked MATIC tokens. This is why many users participate in staking their favorite blockchain’s tokens.
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Investments: Users who invest in tokens for the long term choose staking as an additional income multiplier and protection against inflation. Staking is as reliable and safe as storing tokens in an address while providing good returns.
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Exploring New Features: Many users limit themselves to simple token transfers. However, some want to explore all the blockchain’s possibilities, thus experimenting with swaps and staking.
Storing and Staking MATIC
You can store MATIC tokens and stake them simultaneously. For example, allocate some tokens for long-term investment and stake them, while keeping a small portion for operational purposes, such as paying transaction fees for MATIC tokens or NFTs. You decide how many MATIC tokens to stake and can also withdraw tokens from staking.
I Want to Learn More About Staking MATIC
We have prepared a special tutorial to help you understand MATIC staking - Learn more about staking MATIC
