In a move that will further strengthen its staking offerings, South Korea-based cryptocurrency exchange Upbit announced the inclusion of Polygon (MATIC) as a supported staking digital asset effective October 25, 2023.

Upbit Announces Addition of Polygon (MATIC) for Staking

Upbit’s staking service acts as an intermediary in the complex staking process, facilitating convenient and secure staking of owned digital assets for participation in blockchain verification.

Polygon (MATIC) became the fifth digital asset to receive staking support, and staking applications for MATIC are continuously being accepted. Upbit members who complete Know Your Customer (KYC) verification and enable two-factor authentication are eligible to participate.

Staking involves the process of holding digital assets and steadily accumulating digital assets over time to earn consistent rewards.

Staking Details for Polygon (MATIC):

Supported Asset: Polygon (MATIC) Estimated Annual Reward Rate: 4.3% Minimum Application Amount (Per Session): 2.7 MATİC Maximum Application Amount (Per Session): 500,000 MATİC Application Unit: 0.00000001 MATİC

About Polygon (MATIC):

Polygon addresses scalability issues by combining layer-2 technology Plasma with Proof-of-Stake (PoS) sidechain technology, creating a solution to Ethereum’s scalability problem.

*This is not investment advice.

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