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January 30, 2024
Polymesh News

You can now stake directly with the Polymesh Portal!

Stake your POLYX tokens directly on Polymesh through the user-friendly Polymesh Portal. Stay informed about your staking performance with real-time analytics and reporting.

We’re thrilled to announce that you can now stake your POLYX tokens through the user-friendly Polymesh Portal! 

What is POLYX?

POLYX is the native utility token of Polymesh and fuels the transactions and operations within the network. It plays a pivotal role in governance, security, and participation in the growing Polymesh ecosystem.

What is staking?

Staking on Polymesh is critical to the nominated proof of stake consensus mechanism. By staking POLYX tokens, token holders can directly contribute to the network’s security and participate in its operations. Staked POLYX tokens are locked to support Polymesh node operators in validating transactions and writing new blocks to the chain. In exchange, stakers share in a percentage of the node operator’s block rewards.

Staking not only contributes to the stability and functionality of the network but also allows participants to earn rewards in POLYX tokens, unlocking more possibilities for interacting with Polymesh. 

The Polymesh Portal: Making staking on Polymesh easy

You can now stake directly on the Polymesh Portal

The Polymesh Portal is the easiest way to stake POLYX.

The Polymesh Portal provides a user-friendly interface that guides you through staking POLYX on Polymesh node operators step-by-step. Whether you're a crypto enthusiast or never used a blockchain, the Polymesh Portal provides a smooth staking experience. 

Key features of Staking on the Polymesh Portal

User-friendly interface

The Polymesh Portal is a user-friendly interface designed to make interacting with Polymesh easy for users at every level. You’ll find the Staking page on the left-hand navigation bar. From there, the “Stake POLYX” button is hard to miss! 

Simply click “Stake POLYX”, set up your staking preferences (including the amount of POLYX you wish to stake, and the node operators you’d like to stake on), and sign the transaction with your wallet. It’s an easy, intuitive process that clears away the complexities of interacting with the blockchain.

Staking options

Unlike staking via an exchange, the Polymesh Portal lets you choose from various staking options based on your individual preferences. Stakers have the flexibility to choose for themselves which node operators they’d like to nominate and can change their preferences at any time (note that any changes will be reflected after roughly 1 day). 

Real-time analytics

Stay informed about your staking performance with real-time analytics and reporting for both your individual staking activity and the network.

Get a snapshot of your POLYX, including amounts staked, unbonding, and unlocked. Track your rewards, monitor staking activity, and make informed decisions to optimize your staking strategy. 

See current session and era, monitor their progress, and track when the next ones are. You’ll also find network stats including the annual rewards rate, the number of node operators, and total POLYX staked across the network. 

How to get started

Polymesh Portal Staking Page

Visit the Polymesh Portal

Access the Polymesh Portal. Once you’re there, you can navigate to the Staking page with the left-hand navigation or access the staking page directly at https://portal.polymesh.network/staking.

Connect your wallet 

Make sure you can connect to the Polymesh Portal with the Polymesh Wallet or another supported Substrate wallet. 

Set up your staking preferences

Click “Stake” and there will be a pop-up window where you can set the amount of POLYX you’d wish to stake and select the node operators you’d like to stake it on.

Confirm and stake

Confirm your staking details and sign the transaction with your wallet (note there will be a minimal network fee). Congratulations, you’re now staking POLYX! 

For more information about staking on Polymesh, check out:

Staking on Polymesh

Staking with the Polymesh Portal

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