Upbit Introduces Polygon (MATIC) Staking Program Offering 4.3% APY Rewards

Upbit Introduces Polygon (MATIC) Staking Program

SEOUL, South Korea, October 25, 2023 — Dunamu, the owner of South Korea’s leading cryptocurrency exchange Upbit, announced the addition of Polygon (MATIC) to Upbit’s staking service, effective from 14:00 KST on October 25, 2023.

Staking is a service that allows users to entrust their crypto assets on the blockchain network and receive crypto assets as a reward. The crypto assets deposited by staking users are used for transaction verification work, which creates new blocks in the blockchain network. Users receive cryptocurrency as a reward for participating in the verification process.

Polygon is designed to be a Layer 2 scaling solution for Ethereum, and MATIC is the native token to the Polygon blockchain. Upbit’s MATIC staking service is open to all Upbit users who have completed KYC, two-factor authentication, and hold MATIC.

The minimum amount to participate is 2.7 MATIC. Polygon staking is open 24/7, and users who participate in staking will receive rewards once a day. Users can also un-stake MATIC at any time.

“Upbit uses world-class security, robust infrastructure, and years of technology to operate validators and handle staking for users,” said a representative from Upbit Staking. “The crypto assets of users who participate in staking are securely stored in cold wallets.”

Upbit’s Staking Offerings

• Ethereum (ETH)
• Cosmos (ATOM)
• Cardano (ADA)
• Solana (SOL)
• Polygon (MATIC)