Explore non-custodial polygon staking with Coinbase Cloud!
Calling all MATIC holders: We are launching a second quest with Coinbase Cloud to bring you seamless staking directly on the Polygon network.
Experience native staking with Coinbase Cloud's secure public validators. Staking on public validators is completely non-custodial, so you can delegate from your favorite wallet or custody solution and know exactly where your tokens are.
You will be able to win a commemorative and personalized NFT by completing the quest!
What is staking? Staking is the mechanism for securing networks that operate with Proof of Stake (PoS) consensus. Participants, or “validators” as they are called in PoS blockchains, bind a certain number of tokens as collateral to show their commitment to act in accordance with the network’s rules. Validators who act maliciously are penalized by reducing their tokens. However, validators who act according to the network's rules earn crowdsourced rewards in exchange for securing the network and verifying transactions.
In Polygon PoS, validators help secure the network by staking MATIC to produce blocks, validate and participate in PoS consensus. And those who are unable to manage validators can still help secure Polygon by delegating their deposit to reliable validators.
In other words, you can earn more on your crypto by doing the important work of securing the chain!
Ready to go? Try it here:
Note:
-
The promotional reward for completing the quest is a commemorative NFT issued by Layer3. This is separate and unrelated to any on-chain rewards earned and accrued through your delegation activity, which remain subject to the terms and limitations set by the protocol and fees collected by validators.
-
If you wish to unlink your original stake, you can do so after the the untying period is over.
-
Please note that, in accordance with protocol limitations, you will need to accumulate at least 2 MATIC in rewards before you can withdraw your staking rewards.
-
Although the minimum wagering amount for this quest is 50 MATIC and the minimum wagering period for this quest is 30 days, betting more or waiting longer can allow you to accumulate rewards faster to reach the threshold. withdrawal of 2 MATIC rewards.
Why Coinbase Cloud?
Coinbase Cloud Public Validators are high-performance, reliable and secure validators designed to minimize the risks of downtime and double signing, which can result in loss of funds for validators and stakeholders.
We are excited to collaborate with Coinbase Cloud to bring you a safe and guided MATIC staking experience. Experience staking with institutional-grade security, learn about native protocol staking, and start earning MATIC rewards in your non-custodial wallet!
Polygon is a Layer2 scaling solution for Ethereum. Interested in diving deeper into this network? Discover Coinbase Cloud protocol guide.
*Note: This is not financial advice. Always do your own research. For more detailed information about Coinbase Cloud delegation, please read here. *
Quest eligibility requirements
Only participants who successfully complete the Quest in accordance with the Eligibility Requirements will be eligible to claim a commemorative Layer3 NFT (the “Quest Rewards”). The Quest will begin on November 30, 2022 at 11:30 AM EST (the “Start Time”). To successfully complete the quest, you must complete all required steps to complete both bounties on the Layer3 platform and meet all of the following eligibility requirements: (1) BEFORE you begin delegating your MATIC, you must first (a ) connect your wallet to the Layer3 platform and (b) link your Layer3 profile to your Twitter account, (2) you must have at least 50 MATIC on the Ethereum mainnet in the connected wallet (the “Minimum Stake Amount”), (3) you must begin delegating the Minimum Stake Amount to the Coinbase Cloud Public Validator during the 96-hour period immediately following the start time (i.e., to be eligible, you must begin delegating by December 4, 2022 at 10:00 a.m. EST), and (4) the wallet you use to delegate to the Coinbase Cloud public validator must be the same wallet connected to your Layer3 profile, (5) you must continue to delegate the minimum stake to the Coinbase Cloud public validator for a consecutive 30-day period (your “Quest End Date”), and (6) you must complete the required steps on the Layer3 platform to verify your eligibility and claim your quest rewards. quest via the Layer3 platform within 30 days of your quest end date. FAILURE TO CONNECT YOUR WALLET OR TWITTER ACCOUNT TO THE LAYER3 PLATFORM BEFORE DELEGATING YOUR MATIC WILL RESULT IN INELIGIBILITY. Only users who successfully start and complete the quest will be eligible to receive the quest rewards. Quest rewards are funded and distributed by Layer3. Participants can only complete each quest once and quest programs may be canceled or interrupted at any time. Staking and delegation on the Polygon network is subject to the terms and limitations of the protocol, including but not limited to untying periods and a condition that on-chain staking rewards cannot be withdrawn until A minimum of 2 MATIC has not been reached. At current reward rates, depending on the amount you stake, you should not expect to accumulate enough staking rewards to withdraw them at the end of the eligibility period. Neither Coinbase nor Layer3 makes any representation or guarantee that you will earn or be able to withdraw any staking rewards.
Coinbase Cloud Disclaimer
Nothing contained herein constitutes a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects and/or businesses discussed herein. The risk of loss of cryptocurrency, including staking, may be substantial and nothing herein is intended to be a guarantee against the possibility of loss. This material and the contents contained herein are based on information believed to be reliable and have been obtained from sources believed to be reliable, but Coinbase makes no representations or warranties, express or implied, as to the fairness, accuracy , the adequacy, reasonableness or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to change by the underlying protocol network. Any use of the Coinbase Services may be contingent upon completion of the Coinbase onboarding process and is at the sole discretion of Coinbase, including access to applicable legal documentation and will, at all times, be subject to and governed by the policies of Coinbase, including, without limitation, its Terms of Service. and Privacy Policy, as may be amended from time to time.**
**
Learn more
Learn more about Layer3 Queststake a look at our blog post
To learn more about Coinbase Cloudfollow them Twitter here
For more Layer 3 Quests, follow Layer3 on Twitter and join our Discord
👋