Matic Released New Guide On Network Staking Dashboard

Matic released a new guide on the Matic network staking dashboard and the new MATIC token will be added to the Staking Dashboard as well. In today’s altcoin news, we take a closer look at the new platform update.

The Matic network serves as a highly leading crypto wallet and solutions provider and has just announced the news about the MATIC token holders staking program. The team released an official Twitter post to inform the crypto lovers about the event and it said:

“According to the official blog post, the MATIC token staking is slated to go live during step#1 of the long-awaited mainnet launch. The event will enrich the MATIC holders to delegate their tokens to the Matic Foundation nodes in the initial period of the rollout. The delegation of the MATIC tokens by the holders to the Foundation will be carried upon in a transparent manner through the Staking Dashboard. Any person with an Ethereum wallet and MATIC tokens can become a delegator on the Matic platform. The minimum delegation amount is 1 MATIC.”

1/ During step #1 of our mainnet rollout, currently underway, $MATIC holders will be able to delegate their tokens for staking.

Read our tutorial here to learn how MATIC token holders can participate in staking on Matic Network: https://t.co/X8Xxc1sVKC

Prepare for staking😎 pic.twitter.com/YD3VPoCRH4

— Matic (@maticnetwork) May 19, 2020

The validators will change a small piece of the delegators’ staking rewards as a commission for their services involving a running validator node on behalf of the delegator. In case one validator misbehaves, the delegator’ stakes will be reduced partly in proportion to their delegated staking holdings. Matic released the update informing the community about the revolutionary Staking Dashboard by giving a sneak peek via a video link which was an attempt to guide the customers through the platform.

2/ Token holders will be able to use our Staking Dashboard to seamlessly delegate their tokens, track statistics such as current rewards, and withdraw or restake their rewards via our user-friendly interface.

Dashboard access is coming soon. Sneak peek: https://t.co/ZVPJP7mzTq

— Matic (@maticnetwork) May 19, 2020

The new dashboard will help the Matic users to keep track of the statistics on their holdings as well as they will get the opportunity to withdraw their rewards in a user-friendly ecosystem. The delegators will earn a reward once the validator earns a reward during the event. The withdrawals and restaking will ask for a confirmation from the delegator right before the processing. After getting the confirmation from the wallet, the platform will send the rewards back to the wallet in case of a withdrawal. There will be two confirmations, the first one will claim the reward, the second one will be for restaking the rewards. After 12 confirmations on the block, the update showing the increased stake amount for the validator will become visible again.