[ARFC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool

Title: [ARFC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool
Author: @llamaxyz @MatthewGraham
Dated: 2022-11-11

Simple Summary

@llamaxyz proposed assigning the stMATIC and MaticX Emission_Admin role on the Aave v3 Polygon Liquidity Pool to a Gnosis Safe controlled by the Polygon Foundation.


The Polygon Foundation team intends to distribute stMATIC and MaticX incentives to the wMATIC Reserve on Polygon Aave v3.

In order to achieve this, the EmissionManager contract needs to assign an owner to the Emission_Admin permission allowing stMATIC and MaticX rewards to be distributed, [1,2]. This can only be achieved via the governance process.

This proposal assigns the Emission_Admin permission to stMATIC and MaticX rewards to the following address 0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263.


The motivation of the proposal is to enable stMATIC and MaticX rewards to be distributed on the Polygon v3 Liquidity Pool.

Please do note a similar request was submitted enabling the Lido community to distribute LDO rewards across the Polygon Aave v3 liquidity pool, [3].


The Polygon Foundation team will determine the emission rate and duration at which stMATIC and MaticX rewards are offered. This will likely be influenced by the Aave DAO’s ability to adjust the wMATIC, stMATIC and MaticX risk parameters that enable users to generate a return from leverage the stMATIC / wMATIC and MaticX/wMATIC loop.

The Emission_Admin is not limited to a specified Reserve and is linked to the token being distributed across the Liquidity Pool. The EmissionManager determines the stMATIC and MaticX Emission_Admin and not the stMATIC or MaticX Reserve. The Emission_Admin can distribute stMATIC and MaticX anywhere across the Aave v3 Polygon Liquidity Pool.


Set Emission_Admin permission for stMATIC matic:0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4 and MaticX matic:0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6 on the Polygon v3 Liquidity Pool to Polygon Foundation’s address: matic:0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263, [4,5,6].


[1] Rewards - Developers
[2] aave-v3-periphery/IEmissionManager.sol at master · aave/aave-v3-periphery · GitHub
[3] [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool
[4] Staked MATIC (PoS) (stMATIC) Token Tracker | PolygonScan
[5] $0.92 | Liquid Staking Matic (PoS) (MaticX) Token Tracker | PolygonScan
[6] Safe
[7] Creative Commons — CC0 1.0 Universal


Copyright and related rights waived via CC0, [7].


Hi Everyone,

A Snapshot vote has been created for this proposal.

We hope everyone can participate in this vote and we thank all participants in advance for taking the time to vote.

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Hi Everyone :wave:

The AIP vote failed to meet quorum over the weekend. With only 314.4k of the 320k votes needed being submitted. There was almost a perfect 100% YAE vote. The Snapshot had 376k YAE votes and 143 ABSTAIN votes, again overwhelmingly in favor of YAE votes.

We intend to resubmit the AIP for voting this week.

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Hi Everyone :wave:

We have resubmitted the AIP for voting.

Thank you in advance to all those who participate in the vote.

1 Like