Staked MATIC

What is stMATIC and how Does It Work?

Lido Polygon leverages the Polygon blockchain to facilitate staking. It allows for the locking of MATIC assets and the provision of exchangeable tokens, bypassing the need for maintaining infrastructure. Staked assets can be exchanged and utilized in the realm of decentralized finance. Lido Polygon works in conjunction with stMATIC, a token that finds its uses in numerous DeFi applications on Ethereum and Polygon blockchains. Such staked tokens are managed via a DAO-regulated smart contract coordinating with staking providers.

A request is required for the withdrawal of staked MATIC, followed by a waiting time spanning 3 to 4 days. Lido Polygon enforces a 10% cut on staking rewards, which is disbursed among node operators, the DAO, and a coverage fund. The Lido DAO guides the staking protocols using LDO tokens, settling key parameters in the process. Participants in the Lido Polygon operations receive stMATIC tokens, symbolizing their portion of the total MATIC distribution.

The process of staking MATIC tokens through Lido Polygon occurs within a decentralized framework. A 30-day hold-up operates before traders can claim and withdraw their staked tokens. It can be noted that the value of staked MATIC is reflected in stMATIC tokens, calculated using the prevailing stMATIC/MATIC ratio. For those interested in understanding the Lido platform better, resources and in-depth evaluations of the Polygon scaling technology are accessible. Lastly, Lido's 10% fee on staking profits is divided among node operators, the DAO, and a coverage fund, with MATIC tokens allocated to validators within the Polygon network.

The Vision and Mission Behind stMATIC

stMATIC, also known as Stake MATIC, is envisioned to bolster the layer-2 solutions within the Polygon network. It brings changes to the PoS staking process by addressing technical complexities, making it more accessible for traders. Alongside staking, stMATIC also facilitates yield farming. Here, participants can potentially receive staking rewards and liquidity pool rewards. The main focus of stMATIC is to present traders with a unified platform for staking and liquidity provision, eliminating the necessity to engage with multiple platforms for these processes.

How to Buy and Store stMATIC?

To purchase stMATIC, Flooz.xyz offers a streamlined process that allows traders to buy this token via their one-stop solution platform. With a smooth checkout experience and support for all payment methods, Flooz.xyz ensures a hassle-free buying journey. Utilizing Flooz self-custodial web wallet, you can seamlessly store, send, and receive stMATIC tokens. Creating a self-custodial wallet on Flooz is quick and easy, requiring only your email, Google, or Apple ID. This optimized trading experience has attracted over 85,000 active traders on Flooz.xyz. Moreover, by leveraging the power of cryptography, Flooz.xyz ensures that you have complete control over your funds at all times. Additionally, Flooz.xyz aggregates over 50+ providers to offer you the fastest and cheapest payment routes for your stMATIC trades.

stMATIC Metrics:

• Current price: $0.2284

• Market cap: $3.82 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $0