Now when you have set up MetaMask, you need to use MetaMask with the following link: ! In order to be able to do polygon staking at MetaMask, you need to send MATIC tokens to the MetaMask wallet. You copy the address from your wallet and enter it as the destination address on the respective exchange or on another wallet. Then your MATIC tokens will be transferred to your MetaMask. MetaMask can connect to different blockchains. To connect MetaMask to Polygon, go to the networks first! Then go to add network! Once you have clicked this, you will come to a window where you can enter the data of the Polygon Blockchain.ģ. Connect MetaMask to the Polygon Blockchain!
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Go to “Download” and you can then choose what you want to use MetaMask for. The choice is between the browser you are currently using and iOS and Android. Select the download for your browser! This will add MetaMask to your browser.Ģ. To initiate polygon staking on MetaMask, you should first download the MetaMask wallet. Use MetaMask as a browser extension! Go to the MetaMask website !
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In the following we would like to give you instructions on how to do this. You can easily and securely use the well-known MetaMask wallet to operate staking on the Polygon Blockchain with MATIC tokens. Depending on how many tokens you provide, you can earn a certain amount of rewards in the form of new tokens. These staking rewards can earn you an annual return, expressed in the form of Annual Percentage Yield (APY).
Proof-of-Stake is much more efficient than Proof-of-Work , which was used by Bitcoin and, until recently, Ethereum. With staking, you make the tokens that you have acquired on the network available in a staking pool. Staking is a process in which you provide tokens to a blockchain network to validate transactions on the network. It relies on the Proof-of-Stake consensus mechanism , which is a modern way of validating transactions on the blockchain. MetaMask is suitable as a hot wallet for numerous cryptocurrencies. Among other things, you can keep the ERC-20 tokens while using DeFi functions via MetaMask. Furthermore, MetaMask is very easy to use and has a good reputation for the security of the MetaMask wallet. Connection to dApp platforms (NFTs, DeFi, etc.).MetaMask is one of the most used and well-known crypto wallets. It is an online wallet that can be connected to an Internet browser. Furthermore, the MetaMask wallet can be connected to various blockchain networks. In addition to its function as a wallet, you can also use MetaMask for other functions:
Due to the high scalability and the association with Ethereum, Polygon is a project that has extremely high potential in the long term. Polygon should not just remain a pure solution for Ethereum, but will be further developed into a multi-chain solution in the coming months and years, which should develop independently into an ecosystem. The project was founded in 2017 and was formerly called MATIC. As a result, it was re-branded to Polygon. Only the network token, which is responsible for communication in the network and can be used for staking. Polygon uses sidechains to distribute the transaction load in smart contracts.
Polygon (MATIC) is a cryptocurrency and blockchain network that represents a scaling solution for Ethereum. It is a Layer 2 solution that ensures transactions can be processed faster, splits the transaction load, and thus achieves higher scalability than the main Ethereum network.
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