Stader Labs is a liquid staking protocol that allows users to collectively fund new validators and receive rewards. Stader Labs outsources the technical and operational complexity of operating a Polygon validator to permissionless validator operators subject to certain requirements.
When you send MATIC to be staked by Stader Labs, Stader Labs converts your MATIC to MaticX. The conversion rate is calculated according to your proportional claim to MATIC on the Stader Labs protocol. For example, if Stader Labs' conversion rate is “1 MATIC = 0.99 MaticX” and you were to send 1 MATIC to Stader Labs to stake, you would receive 0.99 MaticX to represent your stake.
As validators operating on Stader Labs receive rewards, you are eligible to receive rewards proportional to your stake, which is typically expected to occur daily.
Staked MATIC and rewards received on Stader Labs can usually be withdrawn at any time after staking. For more information, see here.