*Join the Ethermon Co-Founders in the MATIC Telegram on December 18th 8:00 PM IST (2:30 PM UTC) for our AMA!*
This blog post will explain everything you need to know about staking (delegating) MATIC tokens on the Ethermon Validator Node & earning bonus EMONT (our native ERC-20 token).
Ethermon will take 0% validator commission fees for the first 60 days — this means that stakers (delegators) will receive the full APY% (MATIC staking rewards).
We will take a snapshot on February 15th 2021 and distribute EMONT to all of our stakers. 50,000 EMONT will be distributed proportionately based on the snapshot and on-chain records.
On February 16th 2021 the commission fee will be adjusted to 2.5% and a reward rate in EMONT will be granted. The EMONT granted will be >= the fees we collect, evaluated at end of every 60 days. A total of 150,000 EMONT will be allocated as rewards to the stakers in this manner.
All of the commission from running the node will be added directly to the MATIC/EMONT liquidity pool.
Why Should You Stake On Our Node:
For starters, if you own MATIC tokens you should definitely stake on a node to utilize your assets to earn an APY%.
Each node is able to manually set their commission fee anywhere between 0 to 30% (you’ll notice some nodes are already taking upwards of 10% in fees). Our main goals are to support the MATIC network, reward our supporters with EMONT & welcome them into our community. This is why we are taking 0% commission for the first 60 days AND allocating EMONT as rewards.
The Ethermon Validator Node is fully compliant to the latest security requirements as defined by Matic Network and it runs on AWS for the highest availability. Ethermon contracts will move onto the Matic Network starting Q1 2021, we are very much incentivized to maintain the integrity of the ecosystem.
What is EMONT:
EMONT is Ethermon’s ERC-20 token that can be mined by playing our game (https://etherscan.io/token/0x95daaab98046846bf4b2853e23cba236fa394a31).
There is a total supply of 20,000,000 EMONT and LESS than 1% (approx. 0.97%) has been mined to date.
Ethermon has exclusively been a 2D auto-battle game, but we have spent the last 6 months preparing for the release of our 3D MMORPG version of the game in Decentraland (Ethermon assets are cross-compatible on both platforms). Players will be able to use their Mons to battle, explore, find rare loot, unlock & upgrade move-sets, defeat gyms, EARN & so much more.
EMONT will play a MAJOR role in the development of our Decentraland District — Phase 1 of the District gameplay will be released in January 2021! Players will receive automatic rewards just for holding EMONT and the entire District is built around the Play-to-Earn model. One of our top priorities is rewarding those that hold our EMONT token & our assets.
So, What Do You Need To Stake?
- A crypto wallet — MATIC supports MetaMask, Coinbase & Wallet Connect (mobile)
- MATIC token
What Are The Steps?
- Head over to MATIC’s staking dashboard: https://wallet.matic.network/staking/
- Connect your crypto wallet in the top right
- Head over to our validator node (we are #19) https://wallet.matic.network/staking/validators/19
4. Click ‘Delegate Now’ button
5. Enter how much MATIC you want to stake
6. Confirm 2 gas transactions