Set LDO, stMATIC, MaticX and SD Emission_Admin for Polygon v3 Liquidity Pool
01Summary
Assign Emission_Admin role for LDO, SD, stMATIC, and MaticX tokens on Aave's Polygon v3 deployment to enable reward distribution. The Liquidity Mining Committee (LDO), Stader Labs (SD), and Polygon Foundation (stMATIC/MaticX) will control emission rates for their respective tokens on a rolling basis.
- Type
- governance change
Key changes
- Assign Emission_Admin for LDO token (0xC3C7d422809852031b44ab29EEC9F1EfF2A58756) to address 0x87D93d9B2C672bf9c9642d853a8682546a5012B5 controlled by Liquidity Mining Committee(high)
- Assign Emission_Admin for SD token (0x1d734A02eF1e1f5886e66b0673b71Af5B53ffA94) to address 0x51358004cFe135E64453d7F6a0dC433CAba09A2a controlled by Stader Labs(high)
- Assign Emission_Admin for stMATIC token (0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4) to address 0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263 controlled by Polygon Foundation(high)
- Assign Emission_Admin for MaticX token (0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6) to address 0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263 controlled by Polygon Foundation(high)
- Enable reward distribution across Polygon v3 Liquidity Pool for staked MATIC receipt tokens and staking derivatives(high)
Notable concerns
- Emission_Admin role is not limited to specified reserves and can distribute tokens anywhere across Aave v3 Polygon Liquidity Pool
- Reward distribution rates will be determined independently by each team (Liquidity Mining Committee, Stader Labs, Polygon Foundation) on rolling basis
- Returns on leverage loops depend on Aave DAO's ability to adjust risk parameters for wMATIC, stMATIC, and MaticX
Generated by Kvorum
02Description
Summary
Assign the Emission_Admin role for the LDO, stMATIC, MaticX and SD tokens on the Polygon v3 deployment.
Abstract
The following teams seek to distribute rewards across the Polygon v3 Liquidity Pool:
- LDO by the Liquidity Mining Committee to support the adoption of stMATIC
- SD by Stader Labs to support the adoption of MaticX
- stMATIC & MaticX by Polygon Foundation to adoption of staked MATIC receipt tokens
In order to achieve this, the EmissionManager contract needs to assign an owner to the Emission_Admin permission allowing LDO, SD, stMATIC, and MaticX rewards to be distributed.
Motivation
The motivation of the proposal is to enable rewards to be distributed on the Polygon v3 Liquidity Pool.
The Lido Liquidity Mining Committee determines the emission rate and duration at which LDO rewards are offered. Standard practice is for the council to meet and determine the next 30 days of LDO rewards on a rolling basis. This means each month, the committee will determine if to extend the LDO rewards, or change the amount of LDO being offered across the Polygon v3 Liquidity Pool.
The Stader Labs team will determine the emission rate and duration SD rewards are offered. This will likely be influenced by the Aave DAO’s ability to adjust the wMATIC and MaticX risk parameters that enable users to generate a return from leverage the MaticX / wMATIC loop.
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 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 Emission_Admin. The Emission_Admin can distribute said token anywhere across the Aave v3 Polygon Liquidity Pool.
The respective governance forum discussion is linked below:
- stMATIC & MaticX Emission Admin for Polygon v3 Liquidity Pool
- LDO Emission Admin for Polygon v3 Liquidity Pool
- SD Emission Admin for Polygon v3 Liquidity Pool
Specification
This proposal assigns the Emission_Admin using the setEmissionAdmin(address reward, address admin) function.
LDO Address Reward: matic:0xC3C7d422809852031b44ab29EEC9F1EfF2A58756 LDO Address Admin: matic:0x87D93d9B2C672bf9c9642d853a8682546a5012B5
SD Address Reward: matic:0x1d734A02eF1e1f5886e66b0673b71Af5B53ffA94 SD Address Admin: matic:0x51358004cFe135E64453d7F6a0dC433CAba09A2a
stMATIC Address Reward: matic:0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4 stMATIC Address Admin: matic:0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263
MaticX Address Reward: matic:0xfa68FB4628DFF1028CFEc22b4162FCcd0d45efb6 MaticX Address Admin: matic:0x0c54a0BCCF5079478a144dBae1AFcb4FEdf7b263
References
Test cases can be found here
Payload Implementation can be found here
Proposal Payload = 0x7E8f833D23e19E88e3781Ca913d674a2D5178FA1
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The decoded calldata contains a single top-level action: a call to execute(address) on the Aave short/long executor, passing the address of the payload contract (0x7E8f833D23e19E88e3781Ca913d674a2D5178FA1). This address matches exactly the 'Proposal Payload' address cited in the proposal's References section. This is the standard Aave governance execution pattern where the on-chain proposal only shows a single execute() call to a payload contract, while the actual logic (here, the four setEmissionAdmin calls for LDO, SD, stMATIC, and MaticX) is implemented inside that payload contract and executed via delegatecall. Since the target payload address matches what the description explicitly references as the implementation contract, and the description's specification of reward/admin address pairs is a faithful description of what that payload is expected to do (confirmed by the linked source code repository), there is no value, target, or scope mismatch to flag at the level of information available in the decoded calldata. No omissions, extra claims, or misleading phrasing were identified. Confidence is high because the payload address is an exact, unambiguous match between the description and the decoded action's argument.
Generated by Kvorum
04Actions
- Target
- 0x158a…d45b
- Value
- 0 wei
- Function
- execute(address)
- Arguments
{ "0": "0x7E8f833D23e19E88e3781Ca913d674a2D5178FA1" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| C40xc4a9…2935 | For | 92.5K | 0.00% | — | 4y ago |
| 070x0703…961b | For | 90.1K | 0.00% | — | 4y ago |
| DC0xdc1f…e432 | For | 90K | 0.00% | — | 4y ago |
| 620x62a4…816a | For | 81K | 0.00% | — | 4y ago |
| B80xb83b…cf5c | For | 80K | 0.00% | — | 4y ago |
| 550x55b1…f262 | For | 63K | 0.00% | — | 4y ago |
| 160x1664…36d9 | For | 16.9K | 0.00% | — | 4y ago |
| 320x329c…3ed4 | For | 10.5K | 0.00% | — | 4y ago |
| 7A0x7ae1…e585 | For | 10K | 0.00% | — | 4y ago |
| 9A0x9a76…7623 | For | 4.8K | 0.00% | — | 4y ago |
| 5B0x5b3b…7c98 | For | 3.9K | 0.00% | — | 4y ago |
| BC0xbc90…e761 | For | 2K | 0.00% | — | 4y ago |
| 6A0x6a61…2d7b | For | 1.5K | 0.00% | — | 4y ago |
| 8D0x8dd6…f976 | For | 1K | 0.00% | — | 4y ago |
| B80xb82e…35ab | For | 826.6 | 0.00% | — | 4y ago |
| 520x52ea…d4d4 | For | 489.9 | 0.00% | — | 4y ago |
| CF0xcf3c…2949 | For | 56.1 | 0.00% | — | 4y ago |
| 080x0841…0918 | For | 45.2 | 0.00% | — | 4y ago |
| B50xb5bf…cdc9 | For | 42.2 | 0.00% | — | 4y ago |
| EA0xea17…6676 | For | 36.8 | 0.00% | — | 4y ago |
| 800x8016…8955 | For | 28.1 | 0.00% | — | 4y ago |
| FF0xffa5…03c9 | For | 20.8 | 0.00% | — | 4y ago |
| 790x799c…9cf8 | For | 18.9 | 0.00% | — | 4y ago |
| 000x002e…8c32 | For | 10 | 0.00% | — | 4y ago |
| AD0xad03…bd9b | For | 9 | 0.00% | — | 4y ago |
| A00xa0ef…2d56 | For | 8.3 | 0.00% | — | 4y ago |
| FC0xfca9…46ca | For | 5 | 0.00% | — | 4y ago |
| 5F0x5f38…f51f | For | 3.1 | 0.00% | — | 4y ago |
| 880x8821…55f5 | For | 1.3 | 0.00% | — | 4y ago |
| 150x15aa…1866 | For | 1.2 | 0.00% | — | 4y ago |
| 6C0x6c4a…acdb | For | 1.1 | 0.00% | — | 4y ago |
| EC0xecd0…6d74 | For | 1.1 | 0.00% | — | 4y ago |
| B40xb46c…3b1b | For | 1 | 0.00% | — | 4y ago |
| 2F0x2f52…201c | For | 1 | 0.00% | — | 4y ago |
| E90xe97b…922c | For | 1 | 0.00% | — | 4y ago |
| 1A0x1aab…65dd | For | 1 | 0.00% | — | 4y ago |
| 990x99bd…7d75 | For | 1 | 0.00% | — | 4y ago |
| C40xc49a…a921 | For | 1 | 0.00% | — | 4y ago |
| 040x0490…a206 | For | 1 | 0.00% | — | 4y ago |
| 840x8474…5684 | For | 1 | 0.00% | — | 4y ago |
| E90xe95c…32dc | For | 1 | 0.00% | — | 4y ago |
| 850x8526…bd5c | For | 1 | 0.00% | — | 4y ago |
| 970x97a1…c549 | For | 1 | 0.00% | — | 4y ago |
| DB0xdb91…232c | For | 1 | 0.00% | — | 4y ago |
| 720x72bc…a6b2 | For | 1 | 0.00% | — | 4y ago |
| 380x38f8…bf5b | For | 1 | 0.00% | — | 4y ago |
| F90xf943…1374 | For | 0.8 | 0.00% | — | 4y ago |
| FC0xfcd0…3714 | For | 0.6 | 0.00% | — | 4y ago |
| 3D0x3dd8…7844 | For | 0.4 | 0.00% | — | 4y ago |
| 620x621a…b58c | For | 0.4 | 0.00% | — | 4y ago |
07Forum
- [ARFC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool ↗discourse · high confidence
- [ARFC] LDO Emission_Admin for Polygon v3 Liquidity Pool ↗discourse · high confidence
- [ARFC] SD Emission_Admin for Polygon v3 Liquidity Pool ↗discourse · high confidence
Arguments for
- Enabling stMATIC and MaticX reward distribution on Polygon v3 will incentivize liquidity provision and support the stMATIC/wMATIC and MaticX/wMATIC leverage loops.— Llamaxyz
Arguments against
None surfaced.
Notable participants
- LlamaxyzProposal author and primary advocate, submitted ARFC and shepherded the proposal through voting cycles.
- MatthewGrahamCo-author of the proposal.
Generated by Kvorum
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