Lido Staked Matic
Crypto Overview
Purpose and Utility
Lido Staked Matic (stMATIC) is a liquid staking token that represents staked MATIC on the Polygon network. When users stake their MATIC through Lido, they receive stMATIC tokens which represent their staked position while allowing them to maintain liquidity of their assets.
Business Model
The protocol operates by allowing users to participate in Polygon network validation without running their own validator nodes. Users stake MATIC and receive stMATIC tokens which increase in value relative to MATIC as staking rewards accumulate. The stMATIC tokens can be used in DeFi protocols while the underlying MATIC remains staked.
Real-World Adoption
As of 2024, Lido has become one of the largest liquid staking protocols in the Polygon ecosystem, with over $35 million worth of MATIC staked through the platform. The stMATIC token is integrated with multiple DeFi protocols on Polygon.
Platform Development
Lido is actively maintained by a professional team with regular updates and improvements to the protocol. The project has undergone multiple security audits and maintains transparent operations.
Token Distribution
stMATIC is minted when users stake MATIC and burned when they unstake. There is no pre-mine or founder allocation of stMATIC tokens - they are purely representative of staked MATIC positions.
Crypto Impact
To assign a comfort level investing in Lido Staked Matic from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Lido Staked Matic.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.