Protocol Overview
Magma is a community‑owned liquid staking protocol on Monad that issues gMON, a reward‑bearing (non‑rebasing) LST. Deposits are synchronous and ERC‑4626‑compatible, while redemptions are asynchronous and ERC‑7540‑compatible, aligning with Monad’s epoch‑based undelegation and withdrawal lifecycle. The system combines pooled delegation and optional per‑validator targeting, designed for DeFi composability and operational resilience.
Under the hood, Magma routes funds to two vaults. CoreVault manages pooled validator delegation, withdrawal orchestration, and automated rebalancing across the active set. gVault enables opt‑in per‑validator delegation with per‑validator shares, deposit caps, and “gVault protection” that isolates gVault depositors from slashing that occurs inside CoreVault. Explore each component:
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