We are proud to announce that the Changex DeFi wallet now supports liquid staking for the MATIC token!
After integrating the Polygon network, we have worked tirelessly to bring you MATIC staking as quickly as possible, and it is now a fact thanks to our partnership with multichain liquid staking platform Stader Labs.
Staking MATIC in Changex allows you to earn passive rewards while securing the network, joining CHANGE and HYDRA as the third staking pool in the ecosystem. But that’s not all: staking MATIC in Changex is LIQUID, which means you can continue to use your tokens while earning staking rewards from them.
And there’s oh so much more…
Highest MATIC rewards in the space
Yes, you heard it right. Changex will offer one of the highest APYs for MATIC staking in the entire DeFi space, with rewards of up to 7% APY!
Initially, the MATIC staking pool will launch at 4.7% APY for all stakers, but a special time-limited campaign will boost the rewards output.
As such, the MATIC APY will grow to 6.7% until the end of June – a whole 60 days of boost, earning you the highest MATIC rewards in all of DeFi.
This proposition is unique to Changex, and with the usual MATIC staking rewards of 3.5%, it is a significant leap in terms of returns on a deflationary token. This is a time-limited offer for the first two months of staking which cannot be missed.
Get the update, buy MATIC in seconds,
How it works
Liquid staking refers to the process of staking MATIC tokens on the Polygon network while simultaneously being able to use those tokens for other purposes, such as trading or providing liquidity on a decentralized exchange (DEX). This is made possible through the use of a special token called staked MATICX, which is “minted” at the current MATICX/MATIC rate against your staked tokens. The ratio fluctuates, and the final amount might be a bit different, but you can use Stader’s calculator to see the exact amounts you can expect to receive.
When you stake your MATIC tokens, you essentially lock them up in a smart contract and start earning rewards for helping to secure the network. However, these staked tokens are typically not immediately usable for other purposes, as they are locked up and cannot be transferred or traded until they are unstaked.
MATIC liquid staking solves this problem by allowing you to receive MATICX in exchange for your staked MATIC. MATICX is a special token which allows you to unlock your MATIC when you decide to unstake.
In the meantime, the token can be freely traded or used for other purposes while still earning the same staking rewards. This gives you the best of both worlds – you earn staking rewards while still being able to use your tokens for other purposes.
How MATICX works in relation to MATIC
The MATICX/MATIC rate can fluctuate, and if the value of MATICX increases relative to MATIC, it means that the MATICX/MATIC rate is rising. When you stake your MATIC tokens and receive MATICX tokens in return, the number of MATICX tokens you have might be used to redeem a larger quantity of MATIC tokens in the future, depending on the staking Annual Percentage Yield (APY) and market conditions. Keep in mind that in rare cases the rate can also decrease, and there is no guarantee that the value of MATICX will always increase relative to MATIC.
This process is fully decentralized and can be done by anyone who holds MATIC tokens in Changex and wants to earn staking rewards while still having access to their tokens.
This offers you the best of both worlds – you can now stake while using, and use while staking. And with MATIC, no less!
MATIC Liquid Staking in Changex – The Process
Get some MATIC tokens to Changex
Send MATIC tokens on the Polygon chain to your Changex wallet or buy MATIC using our fiat on-ramp in seconds.
Stake your MATIC in the Changex wallet and start earning rewards immediately. The process is very straightforward – just follow the on-screen instructions. Keep in mind you can only stake on the Polygon network.
MATIC staked? You are about to be the owner of MATICX – a token that is automatically received into your wallet as a representation of your staked MATIC.
The MATICX Token
MATICX is designed to give you access to DeFi while the original tokens continue to earn staking rewards – you can use MATICX however you see fit, while your original MATIC tokens remain staked.
Need to unstake?
To unstake your staked MATIC, you need to have the original amount of MATICX tokens you got back in the Changex wallet. This will enable you to receive the initially staked MATIC tokens plus your staking rewards. Keep in mind that you also need a few MATIC tokens to pay for transaction fees on the Polygon network.
There is a “cooldown” period between the staking operation and receiving your tokens back, which is between two or three days. After the end of the cooldown period, you will be able to receive your MATIC, by performing a withdrawal.
Benefits of MATIC liquid staking
Liquid staking offers several benefits over traditional staking, including:
With liquid staking, you can earn staking rewards while still having access to your staked tokens. This means that you can use your tokens for other purposes, such as trading, providing liquidity, or borrowing, without having to wait for the staking period to end.
Liquid staking can potentially offer higher rewards than traditional staking. This is because you can use your staked tokens for other purposes, such as providing liquidity or borrowing, which can generate additional returns on top of staking rewards.
So, there you have it – the highest APY for MATIC in the entirety of DeFi is now exclusively available in Changex, with the added benefit of liquid staking no less! Get some MATIC, stake it, and continue exploring DeFi as you normally would. Download Changex and start staking like a pro now.