Polygon TimesPolygon Times
  • Home
  • News
  • AMA’s
  • Calendar
  • Learn
  • Videos
  • Advertising
  • Contact Us
  • Disclaimers
    • Careers
    • About PolygonTimes
    • Privacy Policy
    • CCPA
    • DMCA
    • Terms of Use

Featured Articles

News

Polygon Announces Partnership with Luxury Car Company Mercedes Benz

July 29, 2022By Crypto Times Network1 Min Read
News

Polygon Staking in Bitfinex with $189 Million Worth of MATIC

February 24, 2022By Crypto Times Network1 Min Read
AMA

SPYRIT AMA Recap

January 20, 2022By Crypto Times Network9 Mins Read
News

Polygon is Partnering with Opera Browser to bring Web3 to the Masses

January 4, 2022By Crypto Times Network3 Mins Read

Subscribe for Updates

Get the latest cryptocurrency news, information and updates.

Thursday, August 18
Latest
  • Polygon Announces Partnership with Luxury Car Company Mercedes Benz
  • Polygon Staking in Bitfinex with $189 Million Worth of MATIC
  • SPYRIT AMA Recap
  • Polygon is Partnering with Opera Browser to bring Web3 to the Masses
  • New Dapp: Bulk Send Matic Tokens with PolygonSender
  • APR vs. APY: Linear & Exponential Interest
  • Popping the Hood on Emissions
  • $CRYSTL Vaults
  • Polygon (MATIC) Network App Developers Grow 60% Monthly; Usage Grows 145%
  • MonoX Mainnet Launch On Ethereum And Polygon
Twitter YouTube RSS
Polygon Times Polygon Times
Switch to BSCTimes
  • Home
  • News
  • AMA’s
  • Calendar
  • Learn
  • Videos
  • Get In Touch
    • About PolygonTimes
    • Advertising
    • Contact Us
    • Careers
    • Disclaimers
      • Terms of Use
      • CCPA
      • Privacy Policy
      • DMCA
      • Cookie Policy
Polygon TimesPolygon Times
Polygon News

Shard Labs’ LIDO Integrates with Polygon

Ranjan YadavBy Ranjan YadavSeptember 8, 20213 Mins Read
Polygon Shard
Share
Facebook Twitter LinkedIn Pinterest Email Reddit

Why LIDO-Polygon Integration?

Shard Labs’ LIDO is set for Polygon integration (further augmenting Polygon’s growth avenues). The Polygon Blockchain’s MATIC token will now have a liquid staking protocol readied under LIDO’s sponsorship. The LIDO-Polygon integration will allow users to stake MATIC (in a click) decentrally and securely (via Polygon PoS). The integration will also allow users to use MATIC in the secondary market. Decentralization is the core of blockchain projects, it boosts robustness and threat resistance. By using LIDO on Polygon, users won’t be required to lock their MATIC token in a staking contract. Instead, they will use stMATIC within Polygon’s DeFi ecosystem. This feature would considerably better their tokens’ incentives and delegation.

About Shard Labs & LIDO

Shard Labs is a technology startup established in 2019, solving real-world problems with holistic solutions for complex business problems. Shard Labs is building futuristic liquid staking on Polygon. LIDO is a liquid staking protocol plus a decentralized autonomous organization (DAO). As LIDO expands to integrate with Polygon, it’s ready for a multichain future.

LIDO-Polygon Integration & Enablements

Users will simply be sending up on the Polygon MAINNET their MATIC tokens to the newly-formed MATIC-LIDO contract. By doing so, they would receive an equal amount of stMATIC tokens (as a validation of MATIC staking position with LIDO validators). In essence, this means that users will be permitted to put to use their stMATIC tokens in various DeFi protocols (simultaneously). They will be, at the same time, earning a stake from their staked MATIC tokens, as well. The stake distribution process on the Polygon ecosystem would get decentralized. It would also augment the ecosystem’s capital efficiency.

LIDO-MATIC Validator Fee

LIDO-MATIC validators would be incentivized as follows:

  1. 5% staking rewards credited into the LIDO DAO treasury (20% of it going to Shard Labs for development and maintenance expenses)
  2. 5% credited to Node Operators
  3. 90% directed towards stMATIC value

Withdrawal & Governance

While stETH doesn’t offer withdrawals as yet (awaiting ETH 2.0), withdrawing stMATIC is quite possible. On the MATIC stake manager, users can either unstake all tokens or withdraw rewards in totality.

Timeline & Development

  1. Phase 1: Research and specification [Jul-Aug 2021]
  2. Phase 2: MVP Development and Testnet deployment [Jul – August 2021]
  3. Phase 3: Production v1 development and audit [August 2021 – December 2021]
  4. Phase 3: Mainnet deployment of v1 [January 2022]
  5. Phase 4: Support and maintenance for v1 and planning for v2

Shard Labs Socials

  • Shard Labs: http://shardlabs.io/
  • LIDO Snapshot: https://snapshot.org/#/lido-snapshot.eth/proposal/QmXGtNCDeVMXgbKcsbg9br4GNDkXLg52f6dbGDXFR3yohh
  • Twitter: https://twitter.com/shard_labs
  • LIDO for Polygon – Proposal by Shard Labs: https://research.lido.fi/t/lido-for-polygon-proposal-by-shard-labs/816
featured Featured Articles Polygon Polygon Network Shard Labs

Related Posts

News

Polygon Announces Partnership with Luxury Car Company Mercedes Benz

July 29, 2022By Crypto Times Network
Read More
News

Polygon Staking in Bitfinex with $189 Million Worth of MATIC

February 24, 2022By Crypto Times Network
Read More
AMA

SPYRIT AMA Recap

January 20, 2022By Crypto Times Network
Read More

Comments are closed.

en English
af Afrikaanssq Shqipam አማርኛar العربيةhy Հայերենaz Azərbaycan dilibe Беларуская моваbn বাংলাbg Българскиca Catalàzh-CN 简体中文zh-TW 繁體中文hr Hrvatskics Čeština‎da Dansknl Nederlandsen Englishtl Filipinofi Suomifr Françaiska ქართულიde Deutschel Ελληνικάgu ગુજરાતીiw עִבְרִיתhi हिन्दीhu Magyaris Íslenskaig Igboid Bahasa Indonesiaga Gaeligeit Italianoja 日本語kn ಕನ್ನಡko 한국어ku كوردی‎lo ພາສາລາວla Latinlv Latviešu valodalt Lietuvių kalbalb Lëtzebuergeschms Bahasa Melayuml മലയാളംmr मराठीmn Монголmy ဗမာစာne नेपालीno Norsk bokmålps پښتوfa فارسیpl Polskipt Portuguêspa ਪੰਜਾਬੀro Românăru Русскийsm Samoansr Српски језикsd سنڌيsl Slovenščinaso Afsoomaalies Españolsu Basa Sundasw Kiswahilisv Svenskata தமிழ்te తెలుగుth ไทยtr Türkçeuk Українськаur اردوuz O‘zbekchavi Tiếng Việtcy Cymraegyi יידישyo Yorùbázu Zulu

Featured Articles

News

Polygon Announces Partnership with Luxury Car Company Mercedes Benz

July 29, 2022By Crypto Times Network
News

Polygon Staking in Bitfinex with $189 Million Worth of MATIC

February 24, 2022By Crypto Times Network
AMA

SPYRIT AMA Recap

January 20, 2022By Crypto Times Network
News

Polygon is Partnering with Opera Browser to bring Web3 to the Masses

January 4, 2022By Crypto Times Network
Polygon Times
  • About PolygonTimes
  • Advertising
  • Press Kit
  • Disclaimers
  • CCPA
  • DMCA
  • Privacy Policy
  • Terms of Use
  • Contact Us
© Polygon Times 2022

Type above and press Enter to search. Press Esc to cancel.