In honor of Matic Network's Gaming Week, I thought I would do a tutorial for those who would like to stake the Matic Network token. If you are not familiar with Matic, here is a quote from one of my other articles:
"At its core Matic Network is a scaling solution for public blockchains. It is based on the “Plasma” framework, which in a nutshell is a series of secondary chains that can interact with the main chain. By reducing the need to talk with the main chain constantly, it basically unclogs the drain so to speak, allowing the main chain to function more efficiently. Additionally, this type of layer two solution sitting on top of layer one allows for developers to build decentralized applications that don’t rely completely on the main chain for everything but can communicate with it when it counts. Translation – It gets to use all the Ethereum goodies such as security, but also provide faster and cheaper transactions."
Other Articles:
- Can Matic Network Change Blockchain Gaming?
- Blockchain Cuties – How to Painlessly Switch to Matic!
Note: if you need help obtaining Matic tokens, the Blockchain Cuties guide goes into detail. Before starting this tutorial make sure you have Matic in your wallet. Additionally, I use MetaMask, so it might be different with others.
How to Stake Matic:
Open up https://matic.network/ website, and under the Products drop down select Wallet:
Sign in with your METAMASK Wallet:
On the Matic Account page make sure Staking is selected, and choose a Delegation Node:
Type the amount of Matic to stake and select Delegate Now:
(My Matic is already staked, so I have to show you with a low amount)
Confirm and allow the transaction (note 2 confirmations are needed):
Wait for a few minutes and you will get this message:
That's it! It may take a few minutes to appear in your account, so be patient.
To See Your Rewards:
Back on the Staking screen, select Show Delegator Details:
Your rewards appear:
For more information on Matic:
- Matic Website
- Matic Delegating
