We’re thrilled to announce that Kraken now supports staking for Polygon (MATIC) holders!
From the Earn section of your Kraken account or from your Pro mobile app, you’ll be able to stake your MATIC holdings and earn up to 14% in yearly rewards.* MATIC staking on Kraken is gasless, meaning there are no network transaction fees for staking and unstaking, or for claiming and withdrawing staking rewards. Additionally, Kraken makes it easy for you to stake and unstake at any time, with no lockup periods.
Note:
- This is the ERC20 version of Polygon (MATIC)
- MATIC staking is not available to residents of Japan.
What is Polygon?
Polygon is a Layer 2 scaling solution for Ethereum that aims to improve the speed and reduce the costs and complexities of transactions on its network. Polygon is a sidechain which helps to increase transaction throughput while still maintaining security through the use of a decentralized network of Proof-of-Stake (PoS) validators. MATIC is the utility token of the Polygon network and is used for securing the chain through staking, participating in network governance and as a unit of payment for transaction fees on the network. Check out the Kraken Learn Center guide What is Polygon? to learn more.
What you need to know
- You can earn up to 14% in yearly rewards, distributed weekly.
- Deposit MATIC on the Ethereum network only. Deposits sent from other networks will be lost. You can add MATIC to your Kraken account by navigating to Funding, selecting the asset and hitting Deposit.Deposits require 20 confirmations (~5 minutes).
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade and invest with caution
There is no guarantee that a limit order will execute. There is also no guarantee of executing at a certain price for a market order. The availability and liquidity of the particular digital asset will impact these types of orders. Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.
* Reward rates are subject to change and compliance with Kraken’s terms and conditions. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any digital asset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your crypto assets and you should seek independent advice on your taxation position. For more information, please see our Terms of Service.
