Polygon Assets
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FRK is a Kuma IBT (interest-bearing token) backed by ERC-721 NFTs that . The NFT holder can redeem the NFT off-chain from MCAG for the market-rate bond value at any point.
Risk: A-
The WETH token on Polygon was launched in January 2021. WETH is the wrapped version of ETH, the native currency of Ethereum blockchain. WETH on Polygon is the bridged version of WETH on Ethereum. The bridge used is the Polygon bridge. WETH has generated more than 144M transactions.
The process to bridge WETH use the polygon bridge who is controlled by a ⅖ . The multisig doesn't have the possibility to deposit/withdraw funds from contracts. There are currently 1.15M WETH holders on Polygon.
Risk: B+
Risk: A
WBTC is the wrapped version of BTC, the native currency of Bitcoin blockchain. WBTC on Polygon is the bridged version of WBTC on Ethereum. The bridge used is the Polygon bridge. WBTC has generated more than 9.1M transactions.
The process to bridge WBTC use the polygon bridge who is controlled by a ⅖ . The multisig doesn't have the possibility to deposit/withdraw funds from contracts. There are currently 9.1M WBTC holders on Polygon.
Risk: B+
Risk: A-
The process to bridge WBTC use the polygon bridge who is controlled by a ⅖ . The multisig doesn't have the possibility to deposit/withdraw funds from contracts. There are currently 9.1M WBTC holders on Polygon.
Risk: B
Risk: B
Risk: C
Risk: B
Risk: C
Risk: B
Risk: C
Risk: B
Risk: C+
Risk: B
Risk: C
risk: C
Lido has been by a ChainSecurity, MixBytes, Sigma Prime, Oxorio and StateMind and stMATIC has been audited by Oxorio and Shard Labs. stMATIC is the core contract which acts as a liquid staking pool. The contract is responsible for deposits, withdrawals, minting and burning liquid tokens. stMATIC has generated more than 1,7M transactions on Polygon.
Lido on Polygon is a protocol that runs on the Ethereum blockchain and it is upgradable. The address that controls the ability to implement day-to-day changes and upgrade the protocol is controlled by a Gnosis Safe with a signer requirement. The signers have established validators and ecosystem partners who can execute privileged operations. Further details can be found . There are currently 26,3k holders on Polygon.
risk: C+
MaticX has been audited by and and there is also a $1M bug bounty.
wstETH was deployed 5th August 2022 and is bridgeable since that day on Polygon. Lido Protocol code has multiple . The contract is responsible for Ether deposits and withdrawals, minting and burning liquid tokens, delegating funds to node operators, applying fees, and accepting updates from the oracle contract on the Ethereum chain while wstETH is the wrapped version of stETH that we used on the Polygon chain. wstETH has generated more than 42k transactions on Polygon.
Lido relies on a set of oracles to report staking rewards to the smart contracts. Lido on Ethereum is a protocol that runs on the Ethereum blockchain and it is upgradable. The Lido DAO controls the ability to implement day-to-day changes and upgrade the protocol with a successful DAO vote. The Lido DAO is an organization and the roles and addresses can be checked in the . To mitigate withdrawal risks, Lido staking went live on December 18th through a performed by a group of the industry’s most trusted builders. Lido has recently been and has implemented stETH withdrawal on their , it means that it’s now possible to redeem ETH from stETH on Ethereum without using liquidity pool (but the processus has a waiting time of 1-2 days).
The process to bridge wstETH use the polygon bridge who is controlled by a 2/5. The multisig doesn’t have the possibility to deposit/withdraw funds from contracts. wstETH has 7.5k holders on Polygon
stETH is currently ranked 1st in the list of Ethereum and Polygon Liquid Staking assets with a capitalization of $8,5B. Furthermore, wstETH is the wrapped version of stETH and is redeemable at any time on the Ethereum chain, the price is correlated to the ETH since stETH is the representation of ETH staked through Lido. Since the Shanghai hard fork, it’s now possible to redeem ether by burning stETH at the same 1:1 ratio (cf ). For these reasons, we consider the risks of stETH mitigated by his principal collateralized assets: ETH. The wstETH liquidity available is nearly $5M with approximately $150k of volume per day on Polygon.
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