New Polygon Liquid Staking by Ankr

Published on: 24.10.2021

Polygon Liquid Staking from Ankr StakeFi offers instant liquidity for the MATIC tokens you stake on platform, enabling you to connect your staked assets to DeFi and create an opportunity to earn several extra layers of rewards.

Ankr StakeFi is all about simplifying the staking process while opening the doors for users to earn more layers of income. The newest product, Polygon Liquid Staking, is designed to give you access to more ways to increase your potential rewards and boost your overall ROI.

Polygon Liquid Staking is an enhanced method of staking on the Polygon blockchain. Staking on Proof-of-Stake networks normally means you would need to lock your tokens up with a validator node. This isn’t ideal as your assets are now “illiquid” or unavailable to spend or earn in other places. Illiquidity is sometimes the price paid for making an APR with some financial strategies, but thanks to Polygon Liquid Staking, it is totally avoidable.

🔹How Does It Work?

With Polygon Liquid Staking, Ankr will stake your MATIC tokens with validator nodes they’ve selected while giving you back new aMATICb tokens. This is an ERC-20 reward-earning token that will distribute staking rewards to your wallet daily. In other words, your wallet’s aMATICb balance will increase daily to reflect your staking rewards.

The best part is, you can use your aMATICb tokens to generate many more layers of passive income when using it to perform liquidity mining, lending, and other strategies on DeFi platforms like OnX, Uniswap, or Compound.