How To Boost your Yields through Liquid Staking on Polygon

aishwary
-
May 23, 2022
|3 minutes read
polygon liquid staking

Liquid Staking has been a novel innovation in the field of DeFi. Billions of dollars have been staked across many Proof of Stake (PoS) chains and this capital was blocked to be used across DeFi, which can now be unlocked thanks to Liquid Staking. 

This article will discuss how you can boost your yield through liquidity staking on Polygon.

On Polygon there are four platforms majorly which have enabled Liquid Staking and thereby helping boost the yields. Lets deep dive into such platforms and help you to unlock the potential hidden out there.

LIDO: Farm up to ~38% APY

Lido protocol supports Polygon, Ethereum, Solana and Kusama.

  •  Visit https://polygon.lido.fi/ (Note: LIDO enables staking on Ethereum for MATIC at the moment, so you need MATIC on the ETH Chain).
  •  Connect your wallet and stake MATIC to receive stMATIC.
Image via: Lido Website
  • Bridge your stMATIC to the Polygon network. If you require help with bridging, you can refer to our Polygon Bridging Guide.
  • Go to the Balancer pool to supply the MATIC-stMATIC pool.

Stader: Farm up to 24% APY

Image via Stader Website
  • Go to Meshswap and provide liquidity to WMATIC-MATICX pool.
Image via: Meshswap Website

ClayStack: Farm up to 9% APY

  • Deposit your MATIC for csMATIC.

Ankr: Enjoy up to 9% APY return on Staking with ANKR on Ethereum Network

For users who have MATIC on the Ethereum network, can also stake their tokens at Ankr.

Image via Ankr Website

Disclaimer: LIDO, Stader, ClayStack, Meshswap and Ankr  are audited. However, liquid staking strategies entail protocol risks, market risks, smart contract risks, and more. Treat this strategy as experimental, and never deposit more money than you can afford to lose.