Matic Network Confirms Staking Will Start with Initial Set of Validators

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In Brief
  • Matic has confirmed that the first round of validators will support staking.

  • The community will be able to lock their MATIC tokens and earn rewards.

  • The project's mainnet was released last week.

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Matic’s marketing lead, Chandresh Aharwar, has confirmed that staking will commence with the first set of validators. There will be no delay.

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Matic (MATIC) has been one of the top-traded tokens on Binance for some time. A layer-2 Ethereum solution, it will soon be fully transitioning to its own mainnet with staking with locked tokens. Wallets are expected to support the staking launch as are multiple exchanges.

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On May 15, Matic’s mainnet officially went live, but delegations and staking have yet to be implemented. We can likely expect this to be rolled out in the coming weeks.

A few days ago, BeInCrypto covered that MATIC broke out from a short-term resistance level and could follow in the footsteps of DGB. At the time of writing, the altcoin is up over 7% on the daily and has a market capitalization of around $76M.

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Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.

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