Introducing MaticX: Stader’s Liquid Staking Solution Coming to Polygon
As discussed in our vision with Staking on Polygon here, Stader is launching Liquid Staking for MATIC very soon.
In this article, we will discuss:
- What is MaticX?
- How MaticX Works?
Users will have the ability to stake their MATIC through Stader’s dapp.
When a user stakes with Stader, they will mint a new liquid token — MaticX .
The liquid token enables a broad set of possibilities:
MaticX will be a Token that increases in value relative to Matic as staking rewards accrue.
Every time staking rewards are added to the pool the MaticX: MATIC exchange rate will increase using this formula:
The MaticX: MATIC exchange rate will be initialized as 1 at the start of the contract.
When users stake MATIC, they will mint MaticX at the prevailing exchange rate. During an unstake operation, MATIC will be given back to the user at the prevailing exchange rate while the MaticX will be burned.
When you stake with Stader, your assets are automatically distributed across a carefully chosen set of validators. This furthers Polygon’s decentralization while minimizing risks.
Stader enables single-click staking with a carefully curated pool of validators. More details on the validator selection criteria coming soon!
At Stader, the security of our smart contracts and, hence, the safety of user’s funds is one of our top priorities. We are currently undergoing 2 third-party audits and our code will be vetted by launch.
We are going into beta in the next few days.
Our official launch will be next week — getting us started on this liquid staking revolution on Polygon!
Please join our launch by following us on Twitter for exclusive launch updates!
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