Simple Summary
Llama proposes integrating MaticX—an ERC20 receipt token representing staked MATIC and staking rewards—into the Aave v3 Polygon Pool. This enhances liquidity options while enabling collateralized borrowing against MaticX deposits.
Abstract
Stader Labs developed MaticX, a liquid staking solution for Polygon (MATIC). Key features include:
- Validator Optimization: Selects validators based on performance, decentralization, and low fees.
- Cross-Chain Staking: Stake MATIC on Ethereum or Polygon, receiving MaticX tokens instantly.
- Secondary Market Utility: Trade MaticX on Ethereum/Polygon while earning staking rewards.
Key Listing Parameters:
- Collateral: Enabled (50% LTV, 65% liquidation threshold).
- Borrowing: Disabled initially.
- Supply Cap: $6M.
- eMode: Classified under ‘MATIC-correlated’ (92.5% LTV, 1% liquidation bonus).
Motivation
- First-Mover Advantage: Compete with Lido’s stMATIC by offering a faster withdrawal period (~50 hours).
- Polygon-native Staking: Users stake directly on Polygon via an instant pool mechanism, reducing transaction costs.
- Yield Opportunities: Potential recursive loops with wMATIC in eMode if borrowing rates stabilize.
Risk & Rate Configuration
| Parameter | Value |
|-------------------------|----------------|
| LTV | 50% |
| Liquidation Bonus | 10% |
| Reserve Factor | 20% |
| UOptimal (Interest Rate)| 45% |
| Chainlink Oracle | 0x5d37E...7403 |
👉 Explore Stader Labs’ MaticX Documentation
FAQ
Why list MaticX on Aave v3?
Expanding collateral options attracts users seeking liquid staking derivatives, boosting Aave’s TVL and MATIC ecosystem engagement.
How does MaticX differ from stMATIC?
MaticX offers faster withdrawals (~50h vs. Lido’s ~80h) and Polygon-native staking, reducing cross-chain friction.
Can I borrow against MaticX?
Initially, borrowing is disabled to mitigate volatility risks. Future governance votes may enable it.
What’s the supply cap?
A $6M supply cap ensures controlled adoption, with adjustments possible via DAO proposals.
Governance & Implementation
- Proposal Discussion: Aave Governance Forum.
- Snapshot Vote: View Here.
- Tested By: Bored Ghost Developing.
Deployed ProposalPayload: 0xD417d...C8Bd
Copyright: CC0.
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