Polygon Delegation Guide
Polygon is a Layer 2 scaling solution for Ethereum. To learn more about the protocol, see our Polygon Guide. To keep up with network insights and developer solutions, visit Coinbase.
Coinbase public validator offers high-uptime, and is architected to minimize downtime and double-signing. You retain full control over your assets when you delegate with self-custody wallets on Coinbase.
Overview
| Protocol Parameter | Value |
|---|---|
| Minimum delegation | 1 MATIC (plus fees to cover) |
| Unbonding period | 80 checkpoints (2-4 days, depending on Ethereum mainnet congestion) |
| Service fee | 8% |
| Estimated APY | ~ 5.1% (Varies based on amount stake and network parameters. Estimate is current as of September 2022.) |
Prerequisites
- A self-custody wallet of choice (Coinbase Wallet, MetaMask, etc) funded with MATIC, and also ETH (which is used to pay transaction fees).
- Polygon Wallet connected to your self-custody wallet.
Notes
- When your self-custody wallet and Polygon Wallet are connected, your MATIC and ETH deposits display on your Polygon Wallet.
- To receive accumulated rewards, you must manually withdraw (as they are not paid out automatically by the validator).
- To withdraw, you need a minimum of 2 MATIC accumulated in rewards.
- You must manually restake rewards.
Links to Instructions
- Delegation Flow: Delegate your tokens to a public validator and earn rewards.
- Withdrawal Flow: Withdraw your earned rewards.
- Restaking Flow: Restake earned rewards to increase your initial stake
- Unbonding Flow: Remove your tokens from the public validator.
Disclaimer
This document and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein. The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss.This document and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but Coinbase makes no representation or warranty, express, or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to modification by the underlying protocol network. Any use of Coinbase’s services may be contingent on completion of Coinbase’s onboarding process and is Coinbase’s sole discretion, including entrance into applicable legal documentation and will be, at all times, subject to and governed by Coinbase’s policies, including without limitation, its terms of service and privacy policy, as may be amended from time to time.