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Matic Network Aims for 80% Token Lockup in New Staking Program

Jun 29, 2020 - Nasdaq

Paddy Baker CoinDesk

Jun 28, 2020 3:00PM EDT

Matic Network announced Sunday that the first iteration of its staking solution was now live.

Launched in stages, direct staking will initially be restricted to the Matic Foundation, the non-profit behind the Ethereum-based scaling solution, which will stake tokens on usersâ behalf, the company said in a press release.

The Matic Network is a dapp-ready sidechain designed to take some of the heavy lifting off the bottlen...