Zug, 26 October 2023 – Bitcoin Suisse, the Swiss crypto-finance technology pioneer, today announced the integration of MATIC, the primary token of the Polygon ecosystem, into its custodial staking services. Bitcoin Suisse's expanded Polygon offerings now encompass custodial staking, trading, and custody solutions for MATIC. Staking entries are accessible with a minimum MATIC holding equivalent to CHF 5’000.
Polygon, previously known as Matic Network, is a blockchain network designed to address the scalability challenges of decentralized applications (dApps) on the Ethereum network. This layer-2 scaling solution leverages sidechains and rollups to expedite transactions and reduce costs compared to Ethereum. Polygon emphasizes interoperability, staking opportunities, and a growing ecosystem of decentralized applications while prioritizing user-friendliness, security, and decentralization.
What distinguishes Polygon from its layer-2 counterparts is its unique capability to stake its native token, MATIC. Users receive MATIC by delegating their stake to validators who contribute computational resources and services to the Polygon network.
Fabian Hediger, Co-Founder and Head of Innovation at Bitcoin Suisse, said: “Today represents another milestone for Bitcoin Suisse as we introduce MATIC staking alongside our existing MATIC trading and custody services. We are excited to offer our clients a comprehensive suite of MATIC-related solutions, enabling them not only to trade and safeguard their assets but also actively participate in the growth of the Polygon ecosystem. This move underscores our commitment to empowering our users and fostering innovation within the crypto industry."
Currently, MATIC's staking rewards stand at 4.9%. Staking is conducted on the Ethereum blockchain, with funds staked to a smart contract of an Ethereum validator (ERC20 standard). Unstaking MATIC involves a lockup period of approximately four days (80 checkpoints), and auto-re-staking is currently not supported.
Clients using Bitcoin Suisse’s custodial staking solution receive staking rewards while their staked assets remain safeguarded, as staked crypto assets are generally stored on separated blockchain addresses, ensuring utmost security. Bitcoin Suisse’s integrated staking service is an all-in-one solution, providing a seamless experience while no technical requirements for clients are needed. Clients can delegate their crypto assets 24/7 to staking via the online platform or mobile app.
