stMATIC —the new token listing and integration at deltatheta.
A new token, stMATIC, will be listed on the deltatheta platform shortly. As part of our cooperation with Polygon Family, we are continuing to expand the functionality of the MATIC token. There are several liquid stacking service providers on the market. In this case, the stMATIC token is a development product of Shard Labs and LIDO DAO.
How does it work?
With liquid stacking protocols, users can earn rewards without having to keep their assets locked up and maintaining the stacking infrastructure. The idea is simple: the user deposits tokens into the contract and receives tradable liquid tokens in return. A DAO-administered smart contract deploys user tokens using selected providers. The absolute advantage is that the staking service providers do not have direct access to the assets, since the assets are controlled by the DAO.
When staking on the Lido platform in the Polygon network, users receive stMATIC tokens immediately after they send MATIC. Lido calculates the current stMATIC/MATIC ratio and sends the required amount to the user. Then the MATIC tokens are distributed among the Polygon validators, which are part of the Lido on Polygon.
The difference between stMatic and similar solutions on the market:
- Smart contract managed by DAO
- The distribution of the stacking rewards is as follows: 90% is transfer to stMATIC value, 5% to node operators, 5% to DAO treasury
- Output takes up to 4 days (this is due to the nature of validation nodes in the Polygon network; see the documentation for more details)
- The presence of its own DeFi infrastructure — exchange pools on decentralised exchanges, yield aggregators — and now the ability to trade options on deltatheta.
With the listing of stMATIC and the launch of version 3 of the platform, token holders will be able to combine three types of organic returns:
- returns from stMATIC stacking,
- option premiums in stablecoins on the deltatheta platform
- returns from depositing collateral on sold options on the AAVE platform. We will explain in more detail how this system operates in the following articles.
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