Add Matic Market on the Matic Network

New Markets
1

Summary

Stader Labs, the non-custodial LST platform behind MaticX, the biggest LST on Matic proposes the addition of Matic market to Compound V3 on the Matic Network

Motivation

LSTs are the perfect use case for money markets in general which is quite evident from all the success the space has seen; even giving rise to several new protocols in the process. Leveraged staking loops is one of the top strategies used and MaticX itself has already seen phenomenal growth through this route on the Compound USDC market with full supply caps

However, the price volatility between LSTs and stables has been a cause for concern when it comes to building aggressive LTV strategies. The perfect way to address it is through the creation of a Matic market which will create the ideal risk free correlated asset pair (MaticX-Matic) for such strategies bringing more TVL & Revenue into Compound & Stader

Point of Contact: @Knight_Mayr on TG & the Compound Forum

Proposed Collateral

We propose adding the following assets as collaterals for the market

  • Matic
  • MaticX
  • stMatic

We have included the biggest Matic LSTs for now and invite the community to give inputs for any other collateral assets.

Relevant Statistics and Links

Next Steps

We invite the community to consider this application for listing the Matic market and welcome suggestions in this direction.

Additionally, we look forward to the community to suggest the requisite parameters

  • Collateral Factor
  • Reserve Factor
  • Borrowing Limit

We have added the ones we feel are relevant but feel free to suggest anything and everything that might be needed

Your support and consideration of our proposal is greatly appreciated! We look forward to hearing from you soon and happy to provide additional resources and support to the community if needed

2 Likes