Summary:
Proposal to add a Gauge for the aMATICc/wMATIC pool.
Links:
Balancer LP: Balancer
aMATICc token address: Ankr MATIC Reward Bearing Certif (aMATICc) Token Tracker | PolygonScan
Article about Ankr Bridge: Ankr Bridge: Now On Ankr Staking. What Is Ankr Bridge? | by Franciska Kovacs | Ankr | Medium
Ankr Docs about Ankr Bridge: Ankr Crypto & Blockchain Nodes | APIs | Web 3.0 Infrastructure
Audit report of Ankr Bridge
Protocol description:
Ankr is aiming to become a leading Web3 decentralized infrastructure provider, and Ankr Staking plays an important role as a liquid staking provider to solve the capital inefficiency of Proof-of-Stake.
aMATICc is a reward bearing token enabling users to benefit from staking rewards while holding aMATICc in their wallet.
aMATICc is a reward-bearing token, meaning that the fair value of 1 aMATICc token vs. MATIC increases over time as staking rewards accumulate.
The process of staking/unstaking can be seen as the primary market.
Instant liquidity in a DEX is also important for other use cases such as lending. This can be seen as the secondary market. As such, with its metastable pool technology, Balancer is most suited stableswap DEX for the aMATICc/wMATIC pool.
Beyond liquidity, aMATICc on Polygon brings another challenge - cross-chain staking. Ankr Bridge is the enabler of a future cross-chain staking experience where users will be able to stake MATIC and get aMATICc on Polygon directly, without having to use Ankr Bridge.
Motivation:
Initially Ankr brought the aMATICc/wMATIC pair on Balance because is the perfect DEX for stablecoins given its like-pair swapping curve which allows low slippage trades.
Currently Ankr is expanding exponentially and is developing new liquid staking tokens use cases for the Defi 2.0 and implementing synergy strategies which benefit both the investors and the whole ecosystem.
Ankr’s aMATICc can be used on both Ethereum and Polygon chain, giving the opportunity to the holders to create interactions with both chains liquidity, and access to cross-chain lending collateral in the near future.
Concluding, we propose to add the aMATICc/wMATIC pool to the Gauge controller to enable users to assign a gauge weight and earn BAL, under the Balancer’s gauge weight mechanism, aMATICc holders will enjoy liquid staking with much higher returns, this will bring more liquidity to Balancer and open wider cross-chain arbitrage opportunities for aMATICc.
