How do I stake MATIC?
Stake your MATIC using the new Lido staking protocols with Atomic Wallet to receive rewards! In this article, we'll guide you through everything you need to know to stake your MATIC and earn rewards.
- MATIC 101: the things you need to know
- How to stake MATIC in your Atomic Wallet app
- MATIC staking rewards
- How to unstake your MATIC
Getting started with staking
Staking is a simple process—instead of just holding your MATIC deposit on your balance, you're choosing to stake it and earn interest. Where does the interest come from, though?
By delegating your MATIC to a validator of your choice, you're expressing your trust in them, which makes them more influential on the blockchain. As validators get paid for confirming blockchain transactions, they in turn pay back to those who supported them. That's how you earn your rewards! By staking your MATIC in Atomic Wallet, you're choosing us as your validator.
MATIC 101: the things you need to know before staking your coins
- Staking is only available for the ERC-20 MATIC token. You can hold both the ERC-20 MATIC token and the mainnet coin in Atomic Wallet, but only the former can be staked.
- Network fees. You’ll have to pay a network fee in ETH every time you want to stake or unstake your MATIC. The fees are charged by the Ethereum blockchain directly. If you're interested in learning more about how they work, see Does Atomic Wallet charge any additional transaction fees?
- Your deposit will be locked. Your MATIC deposit will be frozen throughout the staking period. This means your staked MATIC won’t be counted towards your total balance. Also, you won’t be able to transfer or swap them.
- Unstaking does not happen immediately. Unstaking takes 80 checkpoints (~3-4 days).
- Rewards are distributed with every checkpoint (one checkpoint is about 22-30 minutes).
How to stake MATIC in your Atomic Wallet app
MATIC account activation
When you stake your MATIC for the first time, you need to activate your MATIC account. You can activate your MATIC account by making a zero transaction with a small fee.
- Go into your staking interface and select MATIC;
You'll be presented with the activation transaction details - your address and the fee amount. Click "Send";
Enter your password and confirm the transaction;
That's it! Your MATIC account is now activated and you can proceed to staking.
Staking your MATIC
- Click Staking on the left sidebar and select MATIC;
- Click Stake;
- Decide on the amount to stake. You can also choose a validator here;
- Enter your password and click Confirm;
- Voilà, your MATIC deposit is now staked! Relax and wait for your first rewards to arrive in around 3 days.
- Select theStaking tab in the bottom panel and tap MATIC;
Decide on the amount to stake and choose a validator;
- Enter your password and tap Confirm;
- Voilà, your MATIC deposit is now staked! Relax and wait for your first rewards to arrive in around 20-30 minutes.
MATIC staking rewards
You'll receive your first staking rewards after a new checkpoint has been reached which takes about 22-30 minutes.
After that, your rewards will continue to arrive with every checkpoint, so every 22-30 minutes.
You'll be able to claim your rewards from your MATIC staking interface any time you want. Simply click or tap the 'Claim' button. Keep in mind the network fee, however. Make sure your claiming transaction won't cost you more than the amount of rewards you're trying to claim.
How to unstake your MATIC
- Select MATIC in the Staking tab.
- Select Unstake.
- Enter the amount you want to unstake and select Unstake.
- After you've unstaked your coins, your MATIC will appear in your available balance after 3-4 days.