Stader-MaticX

Staking

Stader is a non-custodial, multichain staking platform. MaticX is Stader's liquid staking solution for MATIC on Polygon.

Risk Rating
Good
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Stader abstracts away the challenges and risks around maintaining staking infrastructure by allowing users to delegate their MATIC to professional node operators.
What we like less
Staking with Stader assumes greater security risks as the underlying smart contracts may be exploited. The treasury for Polygon MaticX is also controlled by a limited 2/3 multisig.
What it means for you
Stader's liquid staking protocol offers you a great way to stake your MATIC and earn rewards for securing the Polygon network while remaining liquid with MATICX.
Information
Info
Key Metrics
  • TVL: $572M (Rank #35)
  • TVL Ranking by Staking: #0
  • Blockchain: Ethereum, Binance, Hedera, Near, Terra2, Fantom
  • Chain TVL
    • Ethereum: $518.05M
    • Binance: $27.88M
    • Hedera: $25.2M
    • Near: $559.36K
    • Terra2: $269.02K
    • Others: $0
Risk Assessment
Good
Protocol Code Quality
  • Code reviewed by several experienced auditors including Halborn and ImmuneBytes
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Core protocol launched in 2022; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 20% by total value locked slightly reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
Things to know about Stader-MaticX

How Stader (MaticX) works

Stader allows users to earn staking rewards without locking assets or maintaining staking infrastructure. Users deposit their MATIC into Stader's smart contracts and receive MATICX in return which represents the value of the user's staked MATIC along with any staking rewards accrued or penalties inflicted on validators. Users can withdraw or redeem their MATICX back for their original MATIC at any time. Currently, all staking on Polygon occurs on the Ethereum mainnet.

How Stader (MaticX) makes money

Stader generates revenue by charging a 10% fee on the staking rewards earned by depositors. This fee is used for upgrading the protocol's staking infrastructure to improve the quality of products for users.

How you make money on Stader (MaticX)

Passive MATIC holders can generate additional yield by participating in the PoS validation mechanism to earn block rewards. The unlocked liquidity with MATICX can also be used on a number of popular DeFi protocols to generate additional yield.