Supply Cap Update - stMATIC Polygon v3
01Summary
Proposal to increase stMATIC Supply Cap on Polygon from 40M to 57M units (42.54% increase) to accommodate growing demand and enable continued TVL growth on Aave Protocol, as current utilization has exceeded 90%
- Type
- parameter change
Key changes
- Increase stMATIC SupplyCap on Polygon from 40,000,000 units to 57,000,000 units(high)
- This increase represents 42.54% growth and equals 75% of total stMATIC supply on Polygon(high)
Generated by Kvorum
02Description
Summary
This publication proposes increasing the stMATIC Supply Cap on Polygon from 40.0M to 57M units.
Motivation
Demand for stMATIC continues to steadily grow over time. This proposal will increase the Supply Cap and enable Aave Protocol to continue growing TVL through stMATIC deposits and revenue from users who who use stMATIC as collateral.
The utilisation of the stMATIC reserve has reached >90% and this publication proposes increasing the SupplyCap by a further 42.54% to 57M units.
The Polygon Foundation is currently providing stMATIC and MaticX rewards to users who borrow wMATIC. This supplements the borrow costs of wMATIC and enhances the yield on the yield maximising strategy.
Outside of Aave Protocol, incentives are provided at the strategy level with a number of integrations being advanced by other teams built on top of Aave using stMATIC as a yield source.
Specification
The following risk parameters changes are presented:
Polygon
Ticker: stMATIC
Contract: 0x3a58a54c066fdc0f2d55fc9c89f0415c92ebf3c4
| Parameter | Current Value | Proposed Value |
|---|---|---|
| SupplyCap | 40,000,000M units | 57,000,000 units |
This is equivalent to 75% of stMATIC supply on Polygon.
Implementation
A list of relevant links like for this proposal:
The proposal Payload was reviewed by Bored Ghost Developing.
Disclosure
This proposal is the work of @TokenLogic. TokenLogic is a voting delegate within the Aave Ecosystem. TokenLogic receives no payment for this work.
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The decoded calldata consists of a single generic execute(address) call routed through Aave's cross-chain governance executor to a payload contract at 0xF28E5a2f04B6B74741579DaEE1fc164978D2d646. This address matches the 'Deployed Contracts' link cited in the proposal's Implementation section (case differences only, same address), confirming the target is consistent with what the description references. However, the actual parameter change (raising the stMATIC supply cap from 40M to 57M units) is not directly visible in this decoded action set — it would be encoded inside the payload contract's own logic, which is not expanded here. This is standard practice for Aave v3 cross-chain risk-parameter proposals, where the on-chain vote only triggers execution of a pre-audited payload. Because we cannot independently verify the numeric supply cap values from the calldata alone, confidence in fully validating the specific parameter change is low, but there is no evidence of any mismatch, extra action, or misdirection — the single action's target aligns with the disclosed payload address. No contradictions, omissions, or suspicious additions were found within the scope of what's decodable.pdf
Generated by Kvorum
04Actions
- Target
- 0x158a…d45b
- Value
- 0 wei
- Function
- execute(address)
- Arguments
{ "0": "0xF28E5a2f04B6B74741579DaEE1fc164978D2d646" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 320x329c…3ed4 | For | 109.1K | 20.74% | — | 3y ago |
| 200x2079…d6ce | For | 100.7K | 19.16% | — | 3y ago |
| 620x62a4…816a | For | 82.9K | 15.76% | — | 3y ago |
| B80xb83b…cf5c | For | 82.5K | 15.69% | — | 3y ago |
| EA0xea17…6676 | For | 54.1K | 10.28% | — | 3y ago |
| B90xb933…8dd1 | For | 44.1K | 8.38% | — | 3y ago |
| 2C0x2cc1…4df1 | For | 28.4K | 5.41% | — | 3y ago |
| E40xe459…e666 | For | 20K | 3.80% | — | 3y ago |
| 180x1855…98ba | For | 3K | 0.57% | — | 3y ago |
| 870x8787…ea52 | For | 1K | 0.19% | — | 3y ago |
| DF0xdf06…4977 | For | 27.3 | 0.01% | — | 3y ago |
| 2F0x2f2f…f78a | For | 2 | 0.00% | — | 3y ago |
| B90xb9f1…36d4 | For | 1 | 0.00% | — | 3y ago |
| 340x3496…126b | For | 0.1 | 0.00% | — | 3y ago |
| 500x50d2…5318 | For | 0.1 | 0.00% | — | 3y ago |
07Forum
No forum thread is confidently linked to this proposal.
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