APIR 7 : Lido - stMatic integration (4th Winelisting)

Project presentation

Summary
This proposal aims to integrate Lido’s stMATIC to APWine on Polygon, enabling for the first time Polygon users to tokenize yield on MATIC. Enabling it on Polygon makes the most sense, as most of stMATIC’s supply is bridged to Polygon, and Polygon users should be the most interested in MATIC future yield.
However, due to the staking contracts for MATIC being deployed on Polygon, this listing may incure additional challenge for the developer team to implement it.

Rationale
I’d like to discuss in Lido and Apwine’s Discord Channels about the advantage that this listing would bring, here is the main one:
stMATIC is particular in the sense that it’s redeemable MATIC tokens are staked on Ethereum, while most of stMATIC’s supply is circulating on Polygon, aswell as most MATIC’s supply.
Listing this token on Polygon would enable every Polygon user to take advantage of MATIC staking, which most of them could not due to Ethereum’s high gas fees.

Benefit of this integration for Lido

  • Growing the TVL on Lido’s Staked MATIC Strategy
  • New use case for stMATIC

Benefit of this integration for APWine DAO

  • Increase the tokenized TVL and the AMM TVL
  • Diversify the yield possibilities on the platform
  • Extend Userbase to many Polygon Users

Lido Metrics:

  • Market cap: $845M
  • TVL: $18.8B
  • Twitter Community: 76k
  • Discord Community: 10k

Community poll:

  • Add Lido’s stMATIC to the Polygon winelisting vote
  • Don’t add Lido’s stMATIC to the Polygon winelisting vote
  • Abstain

0 voters

5 Likes

Hey @Viras thanks for this proposal ! :fire:
Could you fill the winelisting form or ask Lido team to fill it please ? Winelisting application

:+1:
I am in talk with Lido’s team to fill it, I will come back to you when it is done !

2 Likes