TruMATIC Token
What is TruMATIC?
TruMATIC is the liquid staking receipt users receive when they deposit MATIC into the TruStake vault. It is an ERC-20 token like MATIC and has all the same basic functionality.
As soon as you deposit MATIC on the TruStake smart contract, you receive newly minted TruMATIC, based on the exchange rate at the time of staking.
Similarly, when you request an unstake, the corresponding amount of TruMATIC is burned simultaneously.
What is the TruMATIC exchange rate and how does it change?
At launch, the TruMATIC / MATIC exchange rate is set to 1, i.e. the amount of MATIC per TruMATIC is 1. As rewards accrue from staking, the exchange rate increases to reflect this.
For example, if you deposit 1000 MATIC with the exchange rate at 1.0, you will receive 1000 TruMATIC in return. If you accrue 10 MATIC of rewards, the exchange rate will change to 1.01 to reflect that your 1000 TruMATIC is now redeemable for 1010 MATIC.
The share price is calculated net of all validator and vault fees.
How many TruMATIC will I get after staking MATIC?
The amount of TruMATIC you receive when you deposit TruMATIC is given by the TruMATIC / MATIC exchange rate by
Similarly when you request to withdraw your MATIC from the vault, your TruMATIC is burned in proportion at the current exchange rate.
Do I have to claim my TruMATIC when I deposit?
No. TruMATIC will automatically be sent to your wallet when you deposit MATIC in the TruStake vault.
Where can I use TruMATIC?
We have worked on an extensive list of partnerships which will support TruMATIC on Polygon. The spectrum of partners will include DEXs, yield farming, lending/borrowing and more. The following list of partners are live or will go live over the coming week(s):
TruMATIC lending/borrowing on QiDao (coming soon), Aave (coming soon)
Many more to come!
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