Introduction

==What is staking?==

• On Polygon (& other POS networks), Staking is the locking the native token (MATIC) to secure the network, in return for staking rewards (12% of total MATIC supply allocated for staking rewards over a 5-year period since 2019).
• All MATIC staking happens on Ethereum network only. Go here for more detail.

==What’s in this dashboard?==

• This dashboard covers MATIC staking since Jul 1, 2022 including:
  • Staking ratio (staked MATIC / circulating MATIC)
  • Staked & unstaked amount
• Analysis time: Jul 1, 2022 - Sep 22, 2022.

Approach

• Stake transactions are MATIC transfers to the Polygon POS staking contract 0x5e3ef299fddf15eaa0432e6e66473ace8c13d908 and have share minted in return from the null address 0x0000000000000000000000000000000000000000.
• Unstake transactions are MATIC transfers from the Polygon POS staking contract 0x5e3ef299fddf15eaa0432e6e66473ace8c13d908 and have 2 unstake functions '0xe97fddc2', '0x8d16a14a'.
• Identifying circulating supply is tricky as the definition is subjective and the value is different on multiple sources. In this dashboard, I use Coingecko method as:
  • ==Circulating supply = Total supply (10B) - Locked MATIC in 3 addresses (Binance, Vesting contract, Foundation contract)==,
  • 3 addresses locked MATIC:
    • Binance: '0x50d669f43b484166680ecc3670e4766cdb0945ce',
    • Vesting contract: '0xcbfe11b78c2e6cb25c6eda2c6ff46cd4755c8fca',
    • Foundation contract: '0xb316fa9fa91700d7084d377bfdc81eb9f232f5ff'
  • ==And yet, my number is still >2B higher than Coingecko number.==

Structure

• Staking ratio
• Stake & unstake overtime
• Key highlights
• Conclusion

Stake & unstake overtime

Highlights

• ==With activitiy, the general trend in both stake & unstake were down from Jul 1 to Sep 14, 2022 (i.e right before the ETH merge). After Sep 14, 2022, stake activity has doubled before the merge high.==
• With volume, the trend is not as obvious as activity. There were some big days (mostly in stake) which can clearly observed on the charts.

Staking ratio

Highlights

• ==Since Jul 5, 2022, Staking ratio has been increasing from 24% to 36%. This is part due to MATIC cumulative net staked amount (stake - unstake) increased from 2.4B to 3.3B, and part due to circulating supply decreased from 9.9B to 9.3B.==

Key highlights

• Since Jul 5, 2022, Staking ratio has been increasing from 24% to 36%. This is part due to MATIC cumulative net staked amount (stake - unstake) increased from 2.4B to 3.3B, and part due to circulating supply decreased from 9.9B to 9.3B.

• With activitiy, the general trend in both stake & unstake were down from Jul 1 to Sep 14, 2022 (i.e right before the ETH merge). After Sep 14, 2022, stake activity has doubled before the merge high.

Conclusion

Since Jul 1, 2022, MATIC staking ratio has been increasing from 24% to 36%, which partially due to MATIC cumulative net staked amount, which mainly contributed by a few big days in stake volume while in a downtrend in daily stake activity.

Thanks for reading!