TruFin launches institutional MATIC liquid staking vault, TruStake

The TruFin Protocol (TruFin), a protocol built to provide access to institutional-grade Web3 primitives, has launched TruStake, a MATIC liquid staking vault, and its TruMATIC token. TruStake is designed for an institutional customer base. The Polygon ecosystem will benefit from two unique features: an institutional-grade liquid staking solution (including AML/KYC checks and other onboarding requirements) and a custom-built rewards allocation feature.

TruMATIC is the liquid staking receipt token users receive when they deposit MATIC into the TruStake vault. It is an ERC-20 token — the technical standard for fungible tokens created using the Ethereum blockchain — like MATIC and has all the same basic functionality. TruStake is specifically designed for institutions looking to stake MATIC while retaining flexibility and control of their assets, all within a permissioned environment that prioritises security. Further, rewards accrued by institutions that stake their MATIC on TruStake can be flexibly allocated via a feature of the liquid staking vault, the first of its kind.

When users deposit MATIC on the TruStake smart contract:

• They receive newly minted TruMATIC, based on the exchange rate at the time of staking
• TruMATIC is a liquid staking token (LST) which serves as a blockchain-based document of title certifying that the holder has staked the corresponding MATIC token
• As MATIC staking rewards accrue, the value of TruMATIC increases (with reference to the price of MATIC)
• Rewards are restaked automatically to enhance capital efficiency whilst the vault also provides users with custom allocation functionality to distribute rewards
• The TruMATIC token is self-custodied, meaning holders always have control over their TruMATIC

Security has been a primary consideration in the building of TruStake; TruFin has undertaken three independent security audits of its protocol by Open Zeppelin, Nethermind and Zokyo, as well as an active bug bounty campaign on Immunefi.

Colin Butler, Global Head of Institutional Capital at Polygon Labs, comments:

“We’re excited to see these rails being developed for institutional users. TruFin’s liquid staking vault is one of a kind in that it’s geared directly towards an institutional customer base, with the functionality that makes these options accessible to the institutional audience. Driving toward a goal of adoption requires more audience-specific infrastructure and TruStake is the essence of that need.”

About TruFin
The TruFin Protocol builds institutional-grade Web3 primitives that can be used as the foundational building blocks for digital asset strategies to reduce risk, generate rewards, securely on-chain.

The Trufin Protocol does not provide liquid staking services to retail customers nor is it intended that any information on TruStake is a promotion, offer, invitation or solicitation for the purchase or sale of any investment and must not be relied upon for the purposes of any investment decision.