# MaticX Supply Cap Increase Polygon v3 and AGD Approval
AI summary
This proposal seeks to increase the supply cap for MaticX on Aave's Polygon v3 market from 17.2 million units to 29.3 million units. This change aims to accommodate more deposits of MaticX, a liquid staking derivative of MATIC, and support ongoing liquidity mining incentives provided by Stader Labs. Additionally, it corrects an allowance for the Aave Grants DAO (AGD) related to aUSDT that was previously set incorrectly.
If passed, Aave will allow more MaticX to be deposited, potentially increasing the protocol's Total Value Locked (TVL) and revenue from wMATIC borrowing. Stader Labs and users participating in MaticX yield strategies will benefit from continued incentives and capacity. The correction to the Aave Grants DAO's aUSDT allowance will fix a previous error, ensuring proper functionality for AGD.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
MaticX Supply Cap Increase Polygon v3 and AGD Approval
AAVE-V3-POLYGON-CAPS-UPDATES-AGD-APPROVAL-20230503
Author(s): Llama - TokenLogic
Summary
This publication proposes increasing the MaticX Supply Cap on Polygon v3 from 17.2M units to 29.3M units. It also corrects the Aave Grants DAO aUSDT allowance that was incorrectly set previously.
Abstract
After a vote for increasing the communities counter party risk was passed on Snapshot, the Supply Cap for MaticX can be increased from 50% to 75% of circulating supply.
The dominant use case for MaticX on Aave Protocol is as collate…