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Aura FinanceAura Financeby0x021C5536bd60bCe9f15FB0E32746e332E3fbFAF4Aura Finance BIPs

[BIP-232] Enable ankrMATIC/MATIC Gauge [Polygon]

Voting ended almost 3 years agoSucceeded

PR with payload

https://github.com/BalancerMaxis/multisig-ops/pull/128

Summary:

Ankr proposes to the Balancer community the creation of an ankrMATIC/MATIC Gauge. ankrMATIC (previously named aMATICc) is a form of MATIC Liquid Staking from Ankr Staking that offers instant liquidity for your staked MATIC, enabling you to connect your ankrMATIC tokens with DeFi platforms and earn several more layers of rewards. 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.

References/Useful links:

Link to: • Website: https://www.ankr.com/ • Documentation: Ankr Staking – Ankr • Github Page : Ankr GitHub • Twitter: https://twitter.com/ankr https://twitter.com/ankrstaking 1 • Reddit: https://www.reddit.com/r/Ankrofficial/ • Telegram: Contact @ankrnetwork

Protocol Description:

Matic Liquid Staking as provided by Ankr Staking offers instant liquidity for your staked MATIC, enabling you to connect your ankrMATIC tokens with DeFi platforms and earn several more layers of rewards. ankrMATIC is a reward-bearing token, meaning that the fair value of 1 ankrMATIC token vs. MATIC increases over time as staking rewards accumulate.

Motivation:

The purpose of this proposal is to allow ankrMATIC/MATIC to qualify for BAL incentive distribution in order to deepen the liquidity on Balancer and allow for users to swap ankrMATIC, the MATIC Liquid Staking Asset, for MATIC. The intuition behind this is to remedy the capital inefficiency associated with providing liquidity since ankrMATIC 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 utilize BAL incentives and Swap Fees in order to mitigate this capital inefficiency effect.

Specifications:

  1. Governance: ANKR token-holders can propose and vote for changes to the Ankr Staking system. If a change receives enough votes, the Ankr team implements the agreed-upon changes to the platform. Further information may be found here: ANKR Governance Mechanics
  2. Oracles: Does not apply
  3. Audits: Matic Liquid Staking smart contracts have undergone an external audit by Beosin Blockchain Security. The full audit report may be found below: Matic Liquid Staking – Ankr
  4. Centralization vectors: 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
  5. Market History: https://www.coingecko.com/en/coins/ankr-staked-matic
  6. Value: The pool is intended to be the primary source of liquidity for ankrMATIC liquidity to allow for a healthy stimulation of volume.

Off-Chain Vote

Yes, let's do it
4.98M vlAURA100%
No, this is not the way
0 vlAURA0%
Abstain
0 vlAURA0%
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Discussion

Aura Finance[BIP-232] Enable ankrMATIC/MATIC Gauge [Polygon]

Timeline

Apr 05, 2023Proposal created
Apr 06, 2023Proposal vote started
Apr 10, 2023Proposal vote ended
Jan 17, 2025Proposal updated