Place/Date: - October 11th, 2022 at 10:23 am UTC · 4 min read
Source: Stader Labs
Stader Labs is a multi-chain liquid staking solution with a vision to empower 1Bn+ users to earn passive income through its staking infrastructure. Having launched on the erstwhile Terra in the November of 2021, Stader reached $1Bn+ in TVL with ~35000 wallets staking with it during its peak. The start-up then took a strategic decision to diversify across other Layer 1 blockchains too. As of today, the protocol is present across 6 major blockchains (Hedera, Polygon, Bnb, NEAR, Fantom, Terra 2.0) with $150Mn+ in TVL and 70K+ wallets that have staked with it.
Last month, on September 16th , Stader launched its upgraded NearX on the NEAR Blockchain. The upgraded NearX comes with a best-in-class multilayer security program including:
NearX has received an overwhelming response from the Near community and is currently standing strong at ~$6.5 Mn TVL with a boosted staking APY of ~25% (About 2.5X of the return on native staking). NearX is currently live with a NearX<>Near LP on REF and Jumbo. NearX is also live on two orderbook Dex’s – Tonic (NearX<>Near pair) and Spin (NearX<>USDC pair). The upcoming weeks will further see the NearX<>Near LP on Trisolaris; NearX being listed as a collateral on Burrow and NearX integration with Fluxus Finance on NEAR protocol. It will soon be available at Oin Finance too.
Some interesting updates on these integrations are as follows:
In addition to the boosted staking APY and dual incentives on the LPs, Stader.Near is offering up to $11000 in rewards through exciting competitions. These include:
The Stader team is further working towards launching on Aurora by the last week of October, 2022. On Aurora, $NearX will be integrated with Trisolaris, Bastian, Bluebit and Pink Pea.
For the Stader team, however, this is just the beginning. Their goal is to make NearX the go-to token on NEAR by unlocking limitless possibilities through DeFi integrations. As the first multi-chain protocol to bring liquid staking to NEAR, Stader will bring its cross chain expertise and help strengthen the NEAR staking ecosystem. It will further bring a whole host of yield generation possibilities across NEAR and Aurora backed by $SD (Stader’s native token) rewards. Also, Stader will support decentralization of $NEAR as users will stake with a carefully selected set of best performing yet low voting power validators.
NEAR’s scalability, sustainability and cost effectiveness position it as one of the leading blockchains of the future and promising Web 3.0 protocols such as Stader Labs will play a pivotal part in this growth story!
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