Polygon (POL - ex MATIC)
Validators
| Name | Validator ID | Validator Share Proxy Address |
|---|---|---|
Kiln X Ownest |
Staking mechanics
Stake activation time | Instant |
Stake lock-up time | 3~4 days (80 checkpoints) |
Re-delegating activation time | Instant |
Rewards frequency | First rewards: next checkpoint once stake is active (0-30minutes/3hours). Rewards frequency: every checkpoint submitted (30 minutes - 3 hours). Last rewards: last rewards earned before unstaking. |
Auto-compounding | No |
Self-bond | None |
Active set | Yes (100 validators, list here) |
Slashing | Yes, delegators' bonded tokens can be slashed. |
Relationship between validator stake balance and rewards | Linear. The more stake balance there is on the validator, the more rewards it will earn. |
Staking workflow
What is the staking process? | When staking through Kiln Dashboard, you'll first approve the Polygon StakingManager Contract to spend X POL, then delegate to send POL to the official Polygon Staking Contract. |
Do funds move out to another wallet? | Yes, they are sent to the official Polygon Staking Contract. |
Can I keep staking/unstaking from/to the same wallet? | Yes, you can increase the staked amount or unstake part of it at anytime. |
Can I select how much of my wallet balance I want to stake? | Yes, you select the amount of tokens you want to stake to earn rewards. |
Can I unstake part of the staked balance? | Yes, you can select the amount of tokens you want to unstake. |
How is my balance computed at checkpoint N for the rewards distribution? | The balance computed at checkpoint N for the rewards distribution is the balance at the submission of the checkpoint N. |
Staking links
How can I get testnet tokens? | You can request some here. |
Performance
Kiln's validator's performance is visible on the official Polygon staking website. The methodology used for ther Performance Index is described here.
MATIC to POL Migration
What is changing?
Polygon is undergoing a 1:1 technical upgrade from MATIC to POL, affecting MATIC holders and stakers.
POL will be the new gas and staking token on Polygon PoS and Ethereum networks.
Staking will continue only on the Ethereum chain. The stake manager contract will be upgraded without address changes, simply introducing new functions to operate with POL.
What action should I take?
If you hold MATIC on Polygon PoS:
No immediate action is needed. Your MATIC will automatically upgrade to POL, though it may still show as "MATIC" in your wallet if the RPC settings are not updated.
If you want, you can manually update your wallet's display to show POL.
If you hold MATIC on Ethereum or CEXes:
You need to upgrade your MATIC to POL. You can use the Polygon Portal for this: POL Upgrade Portal.
Avoid sending funds directly to the migration contract to prevent loss of funds.
Advanced users can use a deployed contract to upgrade MATIC to POL permissionlessly, but caution is advised.
If you are staking MATIC on Ethereum:
The conversion to POL is automatic. No action is needed unless you wish to prevent this change, in which case you must unstake your MATIC before September 1st.
Note that unstaking takes 48 hours, so plan accordingly.
If you hold POL on Ethereum:
You can stake POL from Kiln Dashboard.
What is coming up later?
There is no deadline for users to upgrade. All MATIC on Polygon PoS & staked MATIC on Ethereum will upgrade automatically on Sept 4 2024.
POL may have additional utility in the future on the Polygon POS chain. If you would like to stake POL, you need to bridge it from Polygon PoS to Ethereum mainnet.
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