Introduction
Aave v3’s Polygon Pool is set to expand its offerings with the proposed listing of MaticX, an ERC20 receipt token representing staked MATIC and staking rewards. This integration aims to enhance user flexibility while strengthening Polygon’s staking ecosystem.
What Is MaticX?
MaticX is a liquid staking solution by Stader Labs, allowing users to stake MATIC tokens on Ethereum or Polygon and receive MaticX tokens in return. Key features include:
- Instant Staking: No need to manage validator infrastructure.
- Dual-Chain Rewards: Earn staking rewards while using MaticX in DeFi on Ethereum or Polygon.
- Faster Withdrawals: Maximum 50-hour withdrawal period, shorter than competitors.
👉 Discover how MaticX boosts DeFi liquidity
Why Add MaticX to Aave v3 Polygon?
1. First-Mover Advantage
Aave DAO gains an edge over alternatives like Lido’s stMATIC by listing MaticX early, attracting users seeking diversified staking options.
2. Enhanced User Experience
- Lower Costs: Stake MATIC directly on Polygon with cheaper, faster transactions.
- eMode Yield Potential: Users can recursive-loop MaticX and wMATIC for higher yields (if borrowing rates permit).
3. Risk-Adjusted Parameters
The proposal includes carefully tested parameters:
– Collateral: Enabled (50% LTV, 65% liquidation threshold).
– Borrowing: Disabled initially.
– Supply Cap: $6 million MaticX.
Technical Implementation
Risk and Rate Parameters
| Parameter | Value |
|---|---|
| LTV | 50% |
| Liquidation Bonus | 10% |
| Reserve Factor | 20% |
| UOptimal (Interest Rate) | 45% |
eMode Configuration (MATIC-Correlated)
- LTV: 92.5%
- Liquidation Threshold: 95%
👉 Explore Aave v3’s eMode features
Governance and Testing
- Proposal: Reviewed by Bored Ghost Developing and simulated on mainnet.
- Voting: Details on Aave’s governance forum.
- Test Cases: Available here.
FAQs
1. Can I borrow against MaticX?
Initially, borrowing is disabled, but MaticX can be used as collateral.
2. How does MaticX compare to stMATIC?
MaticX offers faster withdrawals (50 hours max) and dual-chain staking (Ethereum + Polygon).
3. What’s the supply cap for MaticX?
The initial cap is set at $6 million.
4. Is MaticX’s price oracle reliable?
Yes, it uses Chainlink’s oracle (0x5d37E4b...).