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Staking basics

Introduction to MaticX

Shivendra Singh

• 3 min read
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Introduction to MaticX

What is MaticX?

Stader’s intent with its liquid staking token, MaticX, is to create an LST with a unique value proposition to users and node operators while also adding to the diversity of LSTs on Matic Network.

Some of the key features of Maticx are as follows:

Built for Rewards: You can leverage Stader’s multi-chain partnership expertise which can help in maximizing your liquid staking rewards.

Distributed & Scalable: You can stake across home stakers & high-performance professional operators making it highly scalable. MaticX’s multipool architecture will help to scale up smoothly with user demand.

Security: We have been undergoing smart contract audits by top security firms including Halborn & Immunebytes, a $1M bug bounty on Immunefi, and live monitoring with Forta making it a secure platform for the users.

DeFi Interoperability: MaticX’s token design allows for easy integration with all types of DeFi protocols — from DEXs to Lending/ Borrowing protocols to Yield Optimizers (from vaults to auto-compounders to leveraged yield farming).

Also Read: Smart Contracts

How MaticX Works?

MaticX is an LST 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.

Also Read: What Is Validator

Decentralization

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.

Why Stader’s MaticX?

Now to sum up how Stader’s, MaticX will help the polygon ecosystem and the users in the following way :

  • We will drive decentralization with permissionless node operators

  • We will scale the demand with permissioned operators

  • Stader’s MaticX gives users a robust alternative that’ll have best-in-class staking rewards (access to MEV+tips, competitive commission), and strong DeFi.

  • ETHx’s multipool architecture will help it scale up smoothly with user demand.

In this way, we at Stader will help  get more decentralized while satisfying the user’s demand. We are soon going to live on our platform. Keep an eye out for all ETHx related updates on Stader.

Frequently Asked Questions

Q) What are the benefits of Liquid Staking Matic?

Ans) Some of the most lucrative benefits of liquid staking your Matic token are:

  • You can still earn staking rewards on your Matic without having to lock up your Matic for a specific time to earn staking rewards.

  • You can use your liquid tokens to trade or lend in DeFi.

  • Liquid staking is a more accessible way to participate in Matic staking as the minimum amount to stake is minimal as compared to other options.

Q) What is the price of MaticX?

Ans) MaticX token holds the same value as the Matic token. MaticX is Stader’s Liquid Staking Token which could be used to liqui stake your Matic tokn and also access the DeFi.

What is Matic | Polygon VS ETH | Matic Staking Wallet | How to Buy Matic | What is Web 3.0 | What is MEV | Lstfi Crypto | Proof of Work Vs Proof of Stake | Cross Chain Bridges | Liquid Staking Derivatives | Is Liquid Staking Safe | Matic Staking Rewards | Ethereum Staking Rewards | Altcoins | Tokenmics | BNB Chain vs EVM Chains | What is DeFi | What is Cryptocurrency | What is Web 3.0 | Yield Farming Vs Staking

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