Stader Labs sunsets MaticX, halts new deposits

Stader Labs has announced it is ending operations for MaticX, its liquid staking token (LST) for Polygon (MATIC). As a result, new deposits for MaticX have been immediately halted, and the token has transitioned to a claim-only state. Users can redeem their MATIC through the existing user interface. Following a staking contract upgrade scheduled for June 12–19, the exchange ratio between MaticX and MATIC will be permanently fixed. From June 19 to Aug. 3, instant redemptions at this fixed rate will be available on the existing MaticX dApp. The MaticX UI will be shut down on Aug. 3. After this date, holders can claim their MATIC directly through the Etherscan contract until Aug. 3, 2029.