Do I need to be holding MATIC to participate in staking?
Yes, in order to stake MATIC (Polygon) you first need to deposit MATIC.
Can I unstake MATIC at any time?
There is no lock up period on MATIC Staking. You can stake and unstake at any time.
Which network can I use to deposit MATIC?
Currently MATIC can only be deposited by using the Ethereum (ERC20) network. Make sure to only deposit ERC20 MATIC to your account. Please refrain from using the Polygon network any other blockchain when depositing MATIC to you Cake DeFi account, as it otherwise will result in the loss of your coins.
How long do I need to wait after staking to begin earning rewards?
Rewards are earned after staking with the next reward cycle. The first rewards can be seen after 12-24 hours.
How often do I get rewards in MATIC Staking?
Rewards are paid out twice a day.
What are the advantages of staking MATIC on Cake DeFi?
- Stake and Unstake Anytime - there’s no lock-up period. You may easily stake and unstake crypto at your convenience.
- Receive Rewards 2x a Day - staking rewards are paid out every 12 hours.
- Gain Full Transparency On Your Rewards - rewards can be tracked on-chain via a staking address. You may be able to verify here anytime.
- Benefit from Other Transparency & Security Protocols - as a Singapore-headquartered fintech company, we continuously find innovative ways to provide security and transparency to our users. For more information, you may click here to read about Proof-Of-Reserves and Liabilities or here to read about relevant platform features and protocols.
For more information about Staking, please check our other Staking FAQs.