Definitions 🫵🏼

What is Liquid Staking❓

Staking is the process of actively participating in the validation of transactions. Thus, through this process anyone who has the minimum balance required (depending on the cryptocurrency this value varies) can participate in the Proof of Stake (PoS) process and earn rewards. The difference of liquid staking against staking is that it allows you to have your tokens and use it too (interesting in decentralised finance).

Polygon is yet another project that has seen massive growth lately as a chain for developers to build on as it helps eliminate the high gas fees and slow speeds associated with Ethereum. Polygon is part of a movement of similar projects like Polkadot, Avalanche, and Solana that aim to bring better performance to a very demanding area. However, Polygon has the distinct advantages of benefiting fully from Ethereum’s network and having a more open, secure, and powerful network.

Platforms that allow MATIC liquid staking ⚙️

💡Lido (March 22)

Lido permits you to stake your MATIC and receive stMATIC. Then, it is achieved daily staking rewards and puts your stMATIC to DeFi to work across the Polygon ecosystems. The withdrawal normally has a period of 3 days and the fees from the platform are the 10% of user staking reward.

👌🏼Stader

Stader’s staking solution for Polygon is MATICX, a liquid staking solution for MATIC. Stader lets users earn MATIC staking rewards and also enables users to participate in other Defi protocols using MaticX while accruing rewards (10% fee).

Stader for Polygon gives:

• Liquidity through tokenization - Users can participate in DeFi using the liquid token.
• Ease of staking - User-centric design of DApp to make staking seamless for users

©laystack

The ClayStack platform empowers users to stake MATIC while maintaining their liquidity effortlessly. When users deposit MATIC in the platform’s smart contracts, they receive an equivalent liquid derivative token in the form of csMATIC that remains fungible and transferable and earns daily rewards (10% without 3rd party validator fees). The difference between the others is that also has a 0.5% fee for withdrawal but this one can be instant (depending on the liquidity). \n

Dashboard Purposes 📈

This dashboard aims to analyse MATIC liquid staking as per below parameters:

1. Volume of MATIC staked per month
2. Unique stakers volume
3. Monthly deposits volume
4. Maximum/Minimum/Median of MATIC staked per day
5. Comparison between liquid stake platforms through previous parameters
6. Type of depositors depending on the number of platforms used

(all the analysis starting in Jan 22)

Observations 🔭

• The Volume of $MATIC staked between May and August was higher than the rest of the months significantly.
• The largest amount of MATIC staked in one month is related to May 22 ($MAT 8.39M)
• In September, despite the volume of MATIC has decreased, the number of stakers and deposits has augmented.
• Despite till September the number of unique stakers and deposits from Lido were significantly below Stader, in terms of MATIC staked volume Lido is largely differentiated from the other two platforms in terms of staked volume.
• The largest volume of MATIC deposited ina a month on different platforms is:
  • LIDO → $MATIC 7.65M during May 22
  • Stader → $MATIC 884.09k during June 22
  • Claystack → $MATIC 165.90k during August 22