Stader Labs reveals plans for a DeFi friendly solution on Ethereum

Studder LaboratoriesA leading multi-chain liquid staking protocol has announced the launch of its liquid staking solution, ETHx for Ethereum. This week, Stader Labs posted a dossier Scene For Ethereum that highlights what to expect.

Staking Ethereum status

First, a look at the state of staking Ethereum today shows that liquid staking has proven to be the most popular way (33% of all ethestaking total) for users to stake in Ethereum, followed by CEX (29%). And in the liquid deposit ecosystem, there is a dominant protocol, Lido, which has a 90% market share.

Additionally, the problem is only compounded by Lido’s model of working with a limited set of ~30 certified node operators. And across Lido and the top 2 CEXs at Coinbase & Kraken, more than 50% of all Ethereum deposited flows through just these 3 entities. This clearly demonstrates the need for more powerful alternatives.

Cities x Ethereum: The Vision

Stader’s vision for Ethereum is to deliver a flexible stake product that can strike the right balance between being user-supported (think good user experience, stake yield, Defi integration), scalable (able to support user demand) and strength for decentralization.

Stader’s strategy for realizing this three-pronged vision will be:

  • A hybrid ecosystem of authorized and unauthorized contract operators with an emphasis on decentralization. The authorized pool will allow Stader to continue to expand as the unlicensed ecosystem evolves to support billions of dollars of staked assets.
  • Fewer bond requirements for unauthorized operators, which perfectly reflects the non-punitive nature of ETH Staking’s design, especially for harmless performance issues. In addition, Stader will adopt advanced DVT technologies which greatly reduce the risk of stabbing and punishment.
  • DeFi is actively developing around the soon to be released floating token, ETHx. Leverage experience building cross-chain Defi offerings, Stader has integrations across top Defi protocols such as AAVE, Balancer, QiDAO, Beefy Finance, Venus, Apeswap, and more.

On the eve of the launch announcement, Amitej Jagala, Co-Founder and CEO of Stader Labs said:

“In line with our vision to bring staking to 1 billion users, we are excited to bring our beloved liquid staking solution to Ethereum and add diversity to liquid staking on ETH. Our focus will be on delivering a solution that users love, believe in the highest return on investment and great Defi capabilities, while promoting the decentralization of Eth staking By enabling anyone to use the contract for ETHx without permission from day one.”

Stader has already received contributions from SSV Network, a leading provider of Distributed Verification Technology (DVT), and here’s what Alon Muroch, Principal Developer at SSV had to share:

“We are excited to see Stader build on Ethereum and SSV. Stader is one of the largest liquid staking protocols, with around $110M in TVL and a presence across 6 chains, and it is good to see them adding to the diversity of liquid staking on Ethereum. We are excited to be partnering with them on this journey and made them an early adopter of deep vein thrombosis. The flexibility that DVT provides will enable them to be a force for decentralization on Ethereum.”

A white paper, detailing Stader’s ETHx architecture, is expected in December 2022 with the mainnet launch planned for Q1 2023.

about cities

Founded in April 2021, Studder Laboratories It is a non-custodial multi-chain liquid storage platform with over USD 110 million + POS assets. Currently live on 6 chains (including BNB Chain, Polygon, Hedera, Fantom, Near, etc.), users can share PoS tokens, earn equity returns, and amplify returns via multiple DeFi opportunities like Aave, Balancer, etc.

Over 25,000+ wallets have been placed with Stader. Stader is backed by notable funds including Coinbase Ventures, Pantera, Jump Crypto, Accel Partners, and Accomplice.

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Disclaimer: This is a paid post and should not be taken as news/advice.

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