Ankr proposes to the Balancer community the creation of an aMaticC/Matic Pool.
aMatiC is a form of MATIC Liquid Staking from Ankr Staking that offers instant liquidity for your staked MATIC, enabling you to connect your aMATICb/aMATICc tokens with DeFi platforms and earn several more layers of rewards.
The difference between aMATICb and aMATICc is that:
- aMATICb is a reward-earning token, meaning that rewards from MATIC staking will be distributed daily through rebasing and aMATICb holders’ balance in their wallet will increase on a daily basis.
- aMATICc is a reward-bearing token, meaning that the fair value of 1 aMATICc token vs. MATIC increases over time as staking rewards accumulate.
Ankr is a leader in RPC nodes with projects like Aave, 1inch and SushiSwap as clients and has ~$200M TVL across the Liquid Staking Offering.
Polygon Liquid Staking as provided by Ankr Staking offers instant liquidity for your staked MATIC, enabling you to connect your aMATICb/aMATICc tokens with DeFi platforms and earn several more layers of rewards. However, in this case the focus is on the token aMATICc.
It should be noted that aMATICc is a reward-bearing token. Therefore, the fair value of 1 aMATICc token vs MATIC will increase over time as staking rewards accumulate.
The purpose of this proposal is to whitelist aMATICc/MATIC so as to qualify for BAL incentive distribution in order to deepen the liquidity on Balancer and allow for users to swap aMATICc, the MATIC Liquid Staking Asset, for MATIC.
The intuition behind this is to remedy the capital inefficiency associated to providing liquidity since aMATICc is generating a yield from the Staking Rewards of MATIC. As a result, users have an opportunity cost when providing liquidity since the other half of the MATIC they provide does not generate any yield.
Therefore, the goal of this proposal is to utilise BAL incentives and Swap Fees in order to mitigate this capital inefficiency effect.
ANKR token-holders can propose and vote for changes to the Ankr Staking system. If a change receives enough votes, the Ankr team implement the agreed-upon changes to the platform. Further information may be found here: ANKR Governance Mechanics – Ankr
Does not apply
Audits: Polygon Liquid Staking smart contracts have undergone an external audit by Beosin Blockchain Security. The full audit report may be found below:
Centralisation Vectors: The Ankr 2.0 whitepaper introduced the vision for Ankr Network as a decentralised system where independent node operators work alongside Ankr nodes to power the growth and development of Web3. Further detailed information may be found here:
Delegated ANKR token staking – Ankr
Coinmarketcap: ANKR Reward Bearing MATIC price today, AMATICC to USD live, marketcap and chart | CoinMarketCap
The pool is intended to be the primary source of liquidity for aMATICc liquidity on Polygon and allow for a healthy stimulation of volume.
Any feedback and help from the community is welcomed!