[LEGO] PoLido Staking Strategies <> Stakeall Finance

Community Grants / Initiatives
1

Stakeall Finance is a fully decentralised non custodial DeFi platform focused on building DeFi strategies. These innovative DeFi strategies opens a new gateway for users to participate in DeFi with better returns and experience.

DeFi Staking strategies for PoLido are broadly categoried based on the two networks :

1. Ethereum Network: These set of strategies will be used by user who has funds on ethereum network.

  • Buy, liquid stake and bridge to polygon :

    1. User will use this strategy if user will not have matic. In this strategy, user’s asset will be swapped to matic, staking to PoLido would be done and stMatic will be sent to polygon network using polygon bridge. If user already have Matic token then buying part will be skipped.
    2. All these steps will be performed in single transaction which will greatly enhance user experience while staking.

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  1. Leverage Liquid staking and bridge to polygon :

    1. User is bullish on the asset and would like to leverage on it’s assets. In this strategy, user would deposit asset , borrow from aave and swap using 1inch and finally stake to PoLido. Received stMatic would be deposited to polygon bridge for moving it to polygon network.

    2. User would be able to get higher APR as deposits and borrow from AAVE gives extra rewards.

2. Polygon Network: These set of strategies will be used by user who has funds on Polygon network.

  • Staking Shuttles: Staking shuttle system will be build to polygon chain, that would batch deposited Matic by different users. Once enough Matic token is accumulated, whole batch will be moved to Ethereum chain for staking and equivalent stMatic will be send to Polygon chain for users to claim. This strategy will allow user to stake Matic to Lido if they have funds on Polygon chain. This will also massively reduce gas cost in staking.

Proposal
A grant of $20,000 is being requested from the Lido Ecosystem Grant Organization for the development, testing, auditing and deployment work for building MATIC staking strategies using Lido.

4 Likes
2

Great initiative to give users nice to have features and boosted APR compared to plain stake.

3

Along with the boosted APR, UX will improve a lot by having this integration.
We’ve got a lot of requests through public and private channels to enable staking or zapping to Lido from the Polygon side.
Currently, if you wanted to stake in Lido from Polygon side and bridge back to Polygon, you would be required to execute the minimum of 2 TXs on Polygon side, and 4txs on Ethereum mainnet which is both costly and time consuming. And that is the happy path if you already own MATIC tokens.
I see this integration as a great onramp for new stakers.

2 Likes
4

‘PoLido’ could be confusing and doesn’t help Lido to build brand recognition / awareness across multi-blockchain space. Can we please use Lido on Polygon instead?

4 Likes