Polygon (MATIC)

The native token on Polygon is called MATIC. MATIC is used to pay for transaction fees, participate in network governance, and staking in the Proof of Stake consensus mechanism.

Explorer: https://polygonscan.com/

Wallet: https://metamask.io/ (recommend using with Ledger hardware wallet)

Staking Dashboard: https://wallet.polygon.technology/staking/

The unbonding period on Polygon is currently set to 82 checkpoints. Every checkpoint takes about 34 minutes but this could be further delayed up to approx. 1 hour if the Ethereum network is congested.

No. Once you unbond you stop receiving rewards.

Stakers are expected to earn newly-issued MATIC tokens and platform fees with an estimated 8% SRR. Rewards vary significantly based on the total supply of tokens being staked. You can use the Staking Rewards Calculator to estimate your rewards.

Rewards are distributed whenever a checkpoint is submitted, which occurs every 34 minutes approximately.

Once the unbonding process is complete and rewards are claimed, tokens are automatically transferred to your account.

Rewards are distributed at every checkpoint, which is currently every 34 minutes approx. Rewards are claimed automatically, restaking however must be done manually.

Rewards earned change at each checkpoint since they are strictly related to the total locked supply in the network. Therefore, rewards are expected to vary significantly as more MATIC are staked. Rewards are initially higher and Will keep decreasing over time as the percentage of locked supply increases.

Once the unbonding period is finalized, if you don’t wish to redelegate, your rewards are automatically claimed and transferred to your account. Validators instead might be subject to slashing penalties that can affect your staking rewards. Figment protects clients from slashing thanks to an on-chain and off-chain staking coverage and has never incurred in a slashing event.

There is currently no slashing on MATIC staking. What is the rate of new issuance (aka “annual inflation”) for MATIC? How does the token supply change? There is a targeted 13.09% inflation rate. Polygon allocates 1.2 billion tokens as staking incentives for the first five years.

The total supply of MATIC tokens is 10 billion, of which 12% is allocated to fund the staking rewards for the first 5 years. The first year will see the maximum number of tokens allocated as staking rewards; at the end of this 5 years period transaction fees should support validators/delegators without the need of tapping into the network’s treasury. Do I maintain custody of my MATIC tokens? Who or what controls my staked MATIC token? Yes, you always maintain custody of your MATIC tokens, although tokens will be locked within the protocol throughout the unbonding time. Figment has partnerships with a number of top-in-class custodians: For inquiries, please contact sales@figment.io.