ClayStack

ClayStack is a cryptocurrency staking platform designed to assist crypto traders. The platform enables its users to simultaneously stake their tokens and participate in the Defidecentralized finance (DeFi) ecosystem. This allows them to utilize the derivative/synthetic tokens in Defi applications.

csETH is ClayStack's liquid staking derivative token for Ethereum. Clay Stack uses technologies like Decentralized Validation Technology (DVT) for decentralized decision-making. The ClayStack Ethereum protocol was created to streamline access to staking on the Ethereum network.

ClayStack validators utilize MEV relayers, such as MEV-Boost. These tools enable validators to manage transaction orders within their blocks. Flash Exit is a feature that offers liquidity to csETH holders. In exchange for a fee, it allows them to withdraw their funds without waiting tilluntil the unbonding period or avoiding certain slashing risks.

Developer of a crypto staking platform designed to assist crypto traders. The company's platform allows its users to stake their tokens and participate in the Defi ecosystem at the same time, thereby enabling users to use the derivative/synthetic tokens in Defi applications and maximize their earning potential.

csETH, a key part of our platform, enhances the security of Ethereum and DeFi by fostering active participation and promoting scalable, robust staking. Leveraging cutting-edge technologies such as DVT (Decentralized Validation Technology) - which promotes decentralized decision-making - and hybrid architectures that balance the benefits of different systems, ClayStack ensures an efficient and secure staking process.

ClayStack is a cryptocurrency staking platform designed to assist crypto traders. The platform enables its users to simultaneously stake their tokens and participate in the Defi ecosystem. This allows them to utilize the derivative/synthetic tokens in Defi applications.

csETH is ClayStack's liquid staking derivative token for Ethereum. Clay Stack uses technologies like Decentralized Validation Technology (DVT) for decentralized decision-making. The ClayStack Ethereum protocol was created to streamline access to staking on the Ethereum network.

ClayStack validators utilize MEV relayers such as MEV-Boost. These tools enable validators to manage transaction orders within their blocks. Flash Exit is a feature that offers liquidity to csETH holders. In exchange for a fee, it allows them to withdraw their funds without waiting till the unbonding period or avoiding certain slashing risks.

Developer of a crypto staking platform designed to assist crypto traders. The company's platform allows its users to stake their tokens and participate in the Defi ecosystem at the same time, thereby enabling users to use the derivative/synthetic tokens in Defi applications and maximize their earning potential.

csETH, a key part of our platform, enhances the security of Ethereum and DeFi by fostering active participation and promoting scalable, robust staking. Leveraging cutting-edge technologies such as DVT (Decentralized Validation Technology) - which promotes decentralized decision-making - and hybrid architectures that balance the benefits of different systems, ClayStack ensures an efficient and secure staking process.

Introduction

ClayStack is a decentralized liquid staking protocol that unlocks the liquidity of staked assets in Proof-of-Stake (PoS) networks. Users can deposit tokens in ClayStack’s smart contracts, which issues csTokens that are fully backed and fully fungible. These tokens increase in value as they receive staking rewards from the network.

Users can also utilize these tokens to participate in other DeFi protocols. The combined yield from staking rewards and participating in DeFi compounds over time, increasing yields for the user.

csTokens

csTokens are standard ERC20 tokens that represent the claim to both the underlying staked tokens and the staking rewards. csTokens continuously appreciate in value with respect to the underlying token, abstracting away the complexity of staking, claiming and re-staking.

Diamond

Diamonds are a new points-scoring system for all users in relation to mainnet staking. Mainnet stakers will be rewarded instead mostly in Diamonds, and their support for the protocol will still be reflected in these points. For every 100 csMATIC that you have in your wallet each week, you get 1 Diamond. You can also collect Diamonds by completing missions that are related to mainnet staking. There is no detailed announcement of the use of diamonds now. The team is going to show more information in the future.

Architecture

ClayMain

ClayMain upgradable contract (aka ClayMatic for MATIC or ClayGraph for GRT) is the core contract that acts as a liquid staking pool aggregator. It is responsible for token deposits, minting and burning liquid staking tokens (csTokens), staking/unstaking funds to the validating nodes and applying fees.

On a regular basis an off-chain service calls the public method autobalance triggering the staking of funds into the validating nodes. Any contract or user can call this method.

Exchange Rate

The exchange rate of the underlying token to csToken (e.g. MATIC to csMATIC) is calculated as the total amount of tokens (deposits + rewards) divided by the supply of csTokens. The value of the csToken will increase over time with respect to the base token.

On some chains, where slashing is enabled, a particular validator may be penalized due to missing validation checkpoints or misbehaviour, and thus a portion of the staked funds on that given validator is slashed. This will in turn cause the exchange rate to decrease.

Rewards

As the staking rewards are distributed to the validators, ClayMain will account for such rewards, while a percentage will be transferred to the ClayStack treasury in accordance to the current fees.

Flash Exit & Liquidity Pool

As part of the staking process, the contract will reserve a portion of the funds to act as a liquidity pool, thus enabling the feature "Flash Exit". During a Flash Exit transaction, no unstaking from the validating nodes takes place, instead funds come directly from the contract's token balance.

Nodes

Nodes are pre-approved by ClayStack as trusted validators. Their selection is based on their performance record validating transactions, their fees and their SLA.

RoleManager

The protocol implements Openzeppelin's AccessControl contract to determine roles and limit access on methods to ClayMain. The roles implemented are:

TIMELOCK_UPGRADES_ROLE: Role to upgrade ClayMain through a TimeLock contract

TIMELOCK_ROLE: Role to execute ClayMain operations functions through a TimeLock contract

CS_SERVICE_ROLE: Role to execute daily operations on ClayMain without the need of TimeLock

TimeLock

Implements Openzeppelin's TimelockController to introduce time delay on some given functions in ClayMain.

Overview

ClayMatic is the staking protocol implementation for Polygon PoS. A user stakes their MATIC and receives csMATIC, which accrues staking rewards without the need of claiming or re-staking. Polygon's staking protocol lives on Ethereum, where ClayMatic pools MATIC from deposits. The ERC20 token is then staked across trusted validator nodes, and ClayMatic claims and re-stakes rewards on a regular basis.

Staking Rewards

Polygon has allocated 12% of its total supply of 10 billion tokens to fund the staking rewards. These rewards are to be distributed over 5 years across participating validating nodes and delegators. Through ClayStack, the user delegates MATIC across several trusted validators.

Rewards APY can range depending on the percentage of MATIC staked across the network.

Unstaking Conditions

ClayStack Standard Unstake feature will use Polygon's checkpoint system to unstake, which currently requires the user to wait for a period of 80 checkpoints before the locked MATIC can be released. Currently this translates to a period of 3-5 days.

Polygon's Staking Contracts

ClayMatic interacts directly with Polygon's staking contracts, and not with any validating node. This delegated staking structure ensures maximum safety for the users as staked funds are protected by Polygon's contracts and are at no point in custody of the validating node.

To understand more about the contract inner workings, see StakeManager.sol and ValidatorShare.sol.

csMATIC on Polygon

ClayStack Staked MATIC (PoS) is the csMATIC mapped token. Anytime you interact with csMATIC tokens, verify that the addresses correspond.