On January 20, the cryptocurrency exchange Bitfinex announced on Wednesday that it would receive 90 million MATIC (about $190 million) from Polygon to provide Bitfinex users with higher staking rewards. Crypto staking is the process used to verify transactions on the blockchain and secure the network.
In Bitfinex’s incentive program, users delegate MATIC to validators who run nodes, and in exchange receive rewards similar to interest payments.
Users can earn up to 41% of annual staking rewards by participating in Bitfinex’s staking program on MATIC, which will be available for a limited time.