Staking

Before staking on Polygon as a validator, ensure the following prerequisites are met:

Prerequisites¶

Validator Node Synced: Ensure your validator node is fully set up and synchronized. For guidance, refer to Run a Validator Node.

Account Setup: On your validator node, verify the account setup by running heimdalld show-account. This command displays your address and public key. Ensure this address corresponds with your Ethereum signer address.

Checking Private Key: Optionally, you can verify your private key by executing heimdalld show-privatekey on your validator node. It displays your private key, which should be securely managed.

Stake on Polygon using the Validator Dashboard.

Access Validator Dashboard: Visit validator dashboard.
Wallet Login: Log in using your wallet (MetaMask recommended). Use the address where your MATIC tokens are stored.
Become a Validator: Click on Become a Validator. Note: Ensure your node is already set up; otherwise, an error will occur during staking.
Validator Details: Fill in your validator details, commission rate, and the amount you wish to stake.
Complete Staking Process: Click Stake Now and follow the prompts to approve and confirm the transaction.

Note

Your staking will reflect on the dashboard after approximately 12 block confirmations.

To check the balance of your address, use the following command:

heimdallcli query auth account SIGNER_ADDRESS --chain-id CHAIN_ID

As a validator, you’re entitled to rewards for your contributions to the network.

Withdraw Reward: Click this option on your dashboard to transfer rewards to your wallet. Updates occur post 12 block confirmations.
Restake Reward: To compound your stake, choose this option. It reinvests your rewards into your stake, enhancing your validator position.

Following these steps and guidelines ensures a smooth setup and management process for validators on the Polygon network.

Last update: January 17, 2024

Authors: avenbreaks