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About Polygon

Polygon is an EVM-compatible sidechain and scaling solution. It provides a protocol for building and connecting stand-alone and secured blockchains to Ethereum.

Polygon improves the functionality of the Ethereum blockchain by drastically increasing its network scalability and overall transaction speed.

Polygon uses its own Proof-of-Stake Commit Chain connectivity to help scale the Ethereum network and seeks to solve inefficiencies that may hinder the widespread adoption of blockchain technology.

MATIC, Polygon’s native token, is used for paying gas fees on its native chain, participating in governance, and securing the network through staking incentives.

Prerequisites

• Self-custody wallet (e.g. MetaMask)
• MATIC tokens to stake
• ETH for transaction fees

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What to know before delegating

• Staking MATIC is done on the Ethereum blockchain, which means that your ETH and MATIC should be on the Ethereum blockchain as well.
• To withdraw, you need at least 2 MATIC in accumulated rewards
• Rewards must be restaked manually

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1. Delegation Guide

1.1 Access dashboard

1. Go to Polygon Staking
2. Connect your self-custody wallet and press login in the top right corner.
3. Select your self-custody wallet and click connect. Sign the transaction in your wallet
4. Once you log in, you will see some overall statistics along with the list of validators.
5. Click Become a Delegator

1.2 Delegate to NORTHSTAKE's node

1. Search for and select the NORTHSTAKE node

2. Click delegate

3. Provide the amount of MATIC you wish to delegate

4. Approve the delegation transaction and click delegate

5. After the delegation transaction completes, you will see the Delegation Completed message.

Congratulations! 🚀

Your MATIC tokens are now actively staking, and you will begin earning rewards while contributing to the network’s security.

By following this MATIC staking guide, you have taken an important step in participating in the Polygon ecosystem. If you found this guide helpful, consider sharing it with a friend to help them get started with MATIC staking too.

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1.3 Restake Guide

1. Open the Polygon Wallet.

2. Connect your wallet.

3. Access your account by selecting "My Account". The amount of MATIC you have staked will be displayed under "Your Delegations".

4. Choose the validator to which you want to restake your rewards and click on the "Restake Rewards" button. This step incurs gas fees. Make sure your reward amount is higher than the estimated gas fees before proceeding with restaking your rewards.

• A pop-up window will appear, showing the amount of MATIC to be restaked and the gas fees.
• Proceed by clicking on "Restake Reward".
• Confirm the transaction either through your self-custody wallet extension or the pop-up. Once confirmed, you will receive a confirmation message stating "Rewards Restaked".

5. It may take a few minutes for the updated stake to reflect in your account.

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1.4 Unstaking guide

1. Open the Polygon Wallet.

2. Connect yourwallet.

3. Access your account by selecting "My Account". The amount of MATIC you have staked will be displayed under "Your Delegations".

4. Click Unbond for the validator you want to unstake from.

• Select how much of your stake you would like to unstake.
• Click Confirm.
• Confirm the transaction in your self-custody wallet extension. An “Unbonding Initiated” confirmation message will appear.
• After the unbonding period, your funds will be liquid in your wallet.

Get support

If you want to get continued support and want to know more about delegating and validating on the Avalanche network, reach out to northstake at info@northstake.dk or join our Telegram group.

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