Stader MaticX MATICX

1. Summary

Ranks

Liquidity

85

Developer

-

Social

74

Momentum (beta)

56

Stack Rank™

12

Price

$0.57 +2.8%

Market Cap

$80.40M (#452)

Supply

151.30M / 151.31M

Tags

Polygon Ecosystem Ethereum Ecosystem Liquid Staking Tokens Manta Network Ecosystem

More Metrics

Price
52W High price	$1.40
52W High date	14th Mar 2024 (4 months ago)
All Time High (ATH) Date	9th Dec 2022 (1 year ago)
ATH Price	$2.07
% From ATH	-62.11%
All Time Low (ATL) Date	19th Jun 2022 (2 years ago)
ATL Price	$0.27
% From ATL	188.58%

Supply & Trading Volume
Trading Volume (24h)	$69,157.00
Total Supply	151.31M
Max Supply	10.00B
Circulating Supply	151.30M

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Description

Overview

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Overview

MaticX is a liquid staking token developed by Stader, a multichain liquid staking platform, specifically designed for the Matic Network. It offers a unique value proposition to users and node operators while enhancing the diversity of liquid staking tokens (LSTs) on the Matic Network.

Key Features

• Built for Rewards: MaticX leverages Stader's multi-chain partnership expertise to maximize liquid staking rewards.

• Distributed & Scalable: Users can stake across home stakers and high-performance professional operators making it highly scalable. MaticX's multipool architecture ensures smooth scalability with user demand.

• Security: The platform ensures security through smart contract audits by top firms like Halborn and ImmuneBytes, a $1M bug bounty on Immunefi, and live monitoring with Forta.

• DeFi Interoperability: MaticX's token design allows for easy integration with DeFi protocols, including DEXs, lending and borrowing protocols, and yield optimizers.

How MaticX Works

• Minting and Redemption: When users stake MATIC, they mint MaticX tokens at the prevailing exchange rate. Upon unstaking, MATIC is returned at the prevailing exchange rate, and the MaticX tokens are burned.

• Exchange Rate: The MaticX: MATIC exchange rate increases as staking rewards accrue. The rate is initialized as 1 at the start of the contract.

Decentralization

MaticX promotes decentralization by distributing assets across a carefully chosen set of validators, minimizing risks, and furthering Polygon's decentralization.

Partnerships and Usage

MaticX is supported by various DeFi protocols, including DEXs like QuickSwap and Balancer, lending and borrowing protocols like Aave, and yield optimizers like Beefy Finance.

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