Polylastic’s Staking Program To Be Extended
Currently, the POLX and POLX/MATIC LP Staking Program ends on March 1st. Stakers will have the opportunity to unstake at this time, without penalty. We have decided that because of great interest in continuing this program, we will renew the staking program for an additional year, beginning on March 6th.
Staking Details
In the last staking period, the staking pools quickly became full due to high demand and interest in staking. Due to this, we have decided to remove the maximum cap on how many individual participants can stake and the amount of POLX staked, regardless of how many POLX any given user is currently staking.
As with the last staking period, both the POLX and POLX-MATIC LP staking pools have variable APYs. This means that the more POLX or POLX-MATIC LP tokens that are staked, the APY% decreases accordingly.
Note: The staked tokens will be locked for the whole duration of the staking program. Following completion of the staking period, you may withdraw the total staked amount of tokens + the staking rewards to your wallet in POLX. Early withdrawal will result in a reduction of rewards by 25% and a 7-day lockup period. Once tokens are staked, only one early withdrawal is permitted throughout the staking period. Multiple early withdrawals are not possible.
Keep in mind: staking pools are the same, so if you have already used your penalty withdrawal earlier, you can’t perform another one even if you unstake between March 1st — March 6th and re-stake.
POLX Token Staking
- Staking period: one year (12 months)
- Total rewards: 500,000,000 POLX
- Maximum stake: Unlimited
- Early withdrawal penalty: 7-day lock + loss of 25% of the rewards earned.
POLX-MATIC LP staking
- Staking period: one year (12 months)
- Total rewards: 1,500,000,000 POLX
- Maximum stake: Unlimited
- Early withdrawal penalty: 7-day lock + loss of 25% of the rewards earned.
- You can use buttons in the top right corner to add Polygon (MATIC), POLX and POLX-MATIC LP Tokens to your MetaMask wallet.
How to get LP tokens?
Head over to Quickswap website, select pools and click add liquidity.
Select POLX and Matic
Or click this link:
https://quickswap.exchange/#/add/ETH/0x187Ae45f2D361CbCE37c6A8622119c91148F261b
Select how much of POLX tokens and Matic you want to swap for lp tokens
View your lp tokens by adding this address to your wallet:
0xee321334eA2EACB78F04904aC4733cD301F53C6A
Meanings:
APY: Annual Percentage Yield is the rate you can earn over a year.
V3 POLX Balance: Displays your POLX balance if your wallet is connected.
Currently Staked: Displays how much you have in stake currently
Rewards Earned: Displays how many rewards you have earned to date.
Staking Period: Displays the duration of the current staking period.
Reward Date: Date when staking ends and rewards are distributed.
How to Stake?
Visit: https://staking.portalpolylastic.io
Connect your wallet to the site and make sure you are on Polygon mainnet.
POLX Staking
- Press the ‘Stake’ button.
- Select ‘POLX’ option from the drop-down menu.
- Input the amount you wish to stake, and select the ‘STAKE’ button.
- Confirm the transaction in your wallet.
POLX LP pool
- Press the Stake button.
- Select ‘POLX LP’ option from the drop-down menu.
- Input the amount you wish to stake, and select the ‘STAKE’ button.
- Confirm the transaction in your wallet.
How to Withdraw?
- Press the ‘Withdraw’ button.
- Select the token (POLX or POLX LP) you wish to withdraw from the drop-down menu.
- Press the ‘WITHDRAW ALL’ button.
Early Withdraw
- Follow the “How to Withdraw” section above.
- If the staking period is still ongoing, the ‘PenaltyWithdraw’ button will appear.
- Press ‘PenaltyWithdraw’ and wait 7 days for tokens to unlock.
- After 7 days, you may withdraw the amount on hold.
At Polylastic, we aim to create an environment where community members can participate, earn, and grow! Stay tuned for updates regarding our staking platform and other exciting opportunities within the Polylastic ecosystem.
Enjoy your staking rewards!
