Stader (SD) is a decentralized finance (DeFi) platform focusing on staking services, allowing users to earn passive income by staking various cryptocurrencies. Notably, some projects on Stader enable users to utilize their staked cryptocurrencies by providing alternative tokens. As staking gains widespread popularity among crypto enthusiasts, platforms like Stader have emerged to offer more DeFi options to users.
What is Stader
Stader is a project with the vision of becoming a distribution layer for staking services. Its primary goal is to develop essential staking middleware for various Proof of Stake (PoS) networks, making them accessible to retail users. Additionally, Stader is actively working on creating protocols and products that enhance security, liquidity, decentralization, and governance.
The project is currently building native smart contracts on multiple blockchain networks, including Solana, Ethereum, Fantom, and Polygon. These highly modular smart contracts allow third-party developers to leverage individual components and customize solutions to meet their needs.
The Stader project team
Stader was founded by three co-founders: Dheeraj Borra, Amitej Gajjala, and Sidhartha Doddipalli, who bring extensive experience in engineering and business to the project. Gajjala serves as the CEO and plays a crucial role in StaderDAO, contributing to the project's growth and development.
How does Stader work
Stader is actively developing native smart contracts and an economic ecosystem to support the growth of various solutions within the blockchain space. These solutions include launchpads, yield redirection-style farming, GameFi, liquid staking, and more.
Stader's long-term vision involves building a robust foundation that enables developers and third parties to leverage their platform to build innovative staking applications. The project's native cryptocurrency, SD, powers the platform and its services, facilitating seamless transactions and interactions within the ecosystem.
Stader’s native token: SD
Stader's native token, SD, was launched in March 2022 with a maximum and total supply of 150 million units. The circulating supply is 6.77 percent of the total supply as of June 2023, which translates to approximately 10.14 million tokens.
SD use cases
SD fulfills two primary functions within the ecosystem. Firstly, it acts as a value accrual token. Secondly, SD token holders can participate in governance activities by voting on proposals and decisions that shape the future of Stader's development and operations.
Distribution of SD
SD is distributed as follows:
- 36 percent: Staking rewards
- 17 percent: Team and advisors
- 17 percent: Sold in a private sale
- 15 percent: Reserved as the decentralized autonomous organization (DAO) fund
- 11 percent: Ecosystem fund
- 4 percent: Sold in a public sale
Revolutionizing staking with Stader
Stader holds significant potential within the DeFi sector, as its innovative technology has the capacity to transform the staking landscape. With its current integration into multiple blockchain networks and future plans for further expansion, Stader is poised to make a lasting impact. Looking ahead, the project envisions a future where third-party developers can leverage its Stader Infra technology to create their own staking apps, fostering a decentralized and vibrant staking ecosystem.
