Polygon (previously Matic) started off as a Plasma based scalability solution provider for Ethereum applications and have since evolved to offer a generic framework for building Ethereum-compatible blockchain networks. They have been one of the hardest working teams to onboard Ethereum applications. The results speak for themselves as Polygon is now a recognized leader in scaling Ethereum.
Frequently Asked Questions
Here are answers to some of the questions our community has asked us. Get in touch if there’s more you would like to know.
Polygon is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. They offer various scalability solutions, but most notably, their Proof of Stake sidechain mainnet has launched in May 2020. To learn more, please read their documentations.
New blocks on Polygon are proposed by validators. To enable Polygon to run seamlessly, validators need the technical capabilities to offer a secure, always on infrastructure.
Not everyone is able to do this. Some token holders participate indirectly by delegating the tokens they have to a validator. Validators are running a service for delegators. They typically charge a fee to cover their operational costs.
By delegating MATIC, you help secure the network. You get part of the rewards provided by the protocol for this assistance. If you are planning to hold on to MATIC for some time, delegating will help you accumulate more MATIC while contributing to the health of the network.
You are not giving away ownership of MATIC by delegating. As a validator, stakefish will never have the ability to move your MATIC.
Polygon penalizes any validator that misses too many blocks or double signs a block by slashing the staked amount on that validator. We have our own capital on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware that this slashing risk will always exist.
We charge 4% from the block rewards received by our delegators. For example, if a delegator receives 100 MATIC as a reward, stakefish will receive 4 MATIC while the delegator will get 96 MATIC.
Undelegating (also called unbonding or unstaking) can be done anytime. However, it takes approximately 9 days for your MATIC to undelegate and become transferable.
If you have any questions about staking or our validator services, please do not hesitate to reach out to us. We are happy to talk with anyone and help navigate community members through this exciting new ecosystem.Get in Touch