Liquid Staking of MATIC Now Available on Ankr
Ankr, a decentralized protocol for Web3 infrastructure, is introducing liquid staking of MATIC to allow holders of Polygon’s native token earn rewards while helping secure the network.
Polygon validators are responsible for verifying the authenticity and validity of transactions within the network and are rewarded in return. While anyone can participate by delegating MATIC to a validator of choice, Ankr abstracts the process and technical knowledge needed to get started by distributing the tokens among a select group of validators nodes.
Ankr Earn gives delegators instant liquidity in the form of aMATICb, an ERC-20 reward-earning token, which can be used to generate additional layers of rewards while enjoying staking rewards on Polygon. Users can also exit their position at any time by liquidating their assets in aMATICb/MATIC pool on Uniswap.
There are many ways of putting aMATICb on various DeFi platforms:
- Liquidity mining opportunities are enabled by providing liquidity to pools in decentralized exchanges. Pools like aMATICb/MATIC offer a lower risk of impermanent loss because their prices should remain closely matched;
- Yield farming strategies where users contribute to liquidity pools and gain a share of the trading fees and Liquidity Provider or governance tokens. These new LP tokens can be used to generate yet another layer of earnings;
- Staking rewards on farmed tokens allow users to reinvest their liquidity staking tokens into more DeFi opportunities to earn additional rewards. This is a highly repeatable process as layers of rewards from farming and staking can stack up;
- Yield aggregators & vaults automate yield farming rewards and enable compounding returns, allowing users to maximize their passive income potential.
- Users can borrow against their aMATICb assets in exchange for MATIC. These borrowed MATIC can be re-staked or used for additional earning strategies. Users can also lend their aMATICb tokens in return for interest paid by borrowers;
- More trading opportunities are unlocked when users buy aMATICb at a discount on a DEX and unstake (or redeem) it on Ankr Earn to extract its fair value back within the 7-day unbonding period.