Singapore, Singapore--(Newsfile Corp. - April 2, 2024) - Stader Labs recently unveiled Phase 2 of its ETHx tokenomics with the launch of SD Utility Pool. SD Utility Pool is a strategic initiative by the liquid staking giant to tie in SD, its protocol token, more integrally with the ETH ecosystem. It aims to provide a higher level of utility to the holders while also enabling them to be a part of the burgeoning ETHx business.
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Stader is a leading liquid staking solutions provider with $750 Mn+ in TVL and is present across major EVM chains including Ethereum, Polygon & BNB. In July of 2023, it launched on Ethereum with the lowest bonding requirement of just 4 ETH (& 0.4 ETH worth of SD) per validator. ETHx gained acceptance within the community with 250 node operators having added 4100+ validators since launch.
Stader has now entered the next phase of its ETH-decentralisation journey where it brings SD holders into the ETHx space with the launch of the SD Utility Pool.
SD Utility Pool is the first-of-its-kind product in the Ethereum LST space that rewards protocol token holders for contributing to the decentralization of Ethereum by supporting permissionless node operators. Holders can delegate any amount of SD they wish to the Pool while node operators can access it to cover the protocol token required for the validators. The operators are required to pay a utilization fee that shall contribute to the rewards.
While Stader has grown 6X since the launch of ETHx in June, the Pool shall be a critical lever in fueling the next cycle of value accrual for the SD holders.
SD Utility Pool is getting a strong positive response with 1.5 Mn+ SD already delegated in little over the fortnight since launch. Combined with the SD previously bonded by node operators, approximately 10% of the circulating supply has already been locked. Stader Labs has also announced additional emissions from the protocol treasury.
Stader's Utility Pool stands as a revolutionary breakthrough, enhancing Ethereum decentralization while setting a new standard for integrating genuine use cases into protocol tokens. This development underscores Stader Labs' commitment to driving innovation and advancing the DeFi landscape.
About Stader Labs:
Stader is a non-custodial, smart contract-driven staking platform that facilitates easy discovery and utilization of staking solutions. It acts as an essential staking middleware infrastructure for various Proof- of-Stake (PoS) networks, catering to retail cryptocurrency users, exchanges, and custodians and is backed by leading crypto investors such as Panterra Capital, CoinBase Ventures and others.
Contact Information:
Shalini Umrao
Email: shalini@staderlabs.com
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SOURCE: Asiacryptos
