Digital asset exchange Upbit has ranked No. 1 by participation size in the Polygon staking market, beating major global exchanges. It is interpreted that its self-operated validators and cold-wallet-based asset management system helped attract users.

Dunamu, which operates Upbit, said on Tuesday that Upbit staking ranked first worldwide by POL staking participation size in the Polygon ecosystem.

According to digital asset staking data portal Validator Info, Upbit staking recorded the highest ranking among 102 active validators participating in the Polygon network.

It recorded the largest participation volume, surpassing validators run by major global exchanges such as Binance and Coinbase. Polygon was added to the Upbit staking service in October 2023.

Since then, users seeking a stable staking environment have continued to join, expanding the participation scale. As of June 23, the amount staked in Polygon via Upbit was 413,173,181 POL.

The core of Upbit staking is direct operation. Upbit does not entrust users' delegated digital assets to outside firms. It stakes them directly on the blockchain network through its own validators. Staked assets are kept in cold wallets to enhance security and to block the possibility of arbitrary operation.

Staking is a service in which users delegate their digital assets to operate a blockchain network and receive rewards in return. For exchanges, stable validator operation capabilities and an asset management system are cited as factors that determine service reliability.

An Upbit official said, "We will continue to provide digital asset services that users can participate in with peace of mind."