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There is a micro-cap crypto gem with a small market cap under $50M and is backed by Coinbase, Pantera Capital and other major VCs.
This gem is home to DeFi’s most superior multi-chain Liquid Staking protocol known as Stader Labs…
What is Stader (SD)?
Stader Labs is a multi-chain Liquid Staking platform that launched on the Terra blockchain in 2021 and later evolved by integrating leading networks such as Ethereum, Polygon, Hedera, BNB Chain, Fantom and many more soon-to-come.
Staking and locking up your tokens is a thing of the past. With the power of Liquid Staking, we can stake our tokens and use them in protocols across DeFi all without having to lock them up. Simply put, you can withdraw and sell your staked assets at any time, with no catch.
As we speak, the Stader platform has distributed $25M+ worth of rewards to over 85K users who have Liquid Staked a total of $726M+ worth of $ETH, $MATIC, $HBAR, $BNB and $FTM. Their mission is simple, onboard and reward 1 billion people with the power of Liquid Staking.
Why Stader?
If you’re looking to earn some extra yield on your idle Layer 1 tokens (e.g. $ETH/$BNB), you can earn up to 20% APR by Liquid Staking with Stader. However, the fun doesn’t stop there because you can use your Liquid Staked tokens to earn extra yield on top of your existing APR!
Stader Labs has partnered up with leading DeFi protocols such as Aave, Balancer, SaucerSwap (depending on the network) and many others which allow users to deposit their Liquid Staked assets to earn more yield from liquidity pools and borrowing and lending protocols.
Stader Token (SD)
$SD, the native token to the Stader Labs protocol has four primary utilities.
Most important is the Governance which requires users to Stake $SD in return for $xSD, which not only allows you to vote on proposals but is an auto-compounding token that rewards you.
Another primary utility is the ability to pair and deposit both $SD/$xSD into liquidity pools to earn rewards. The third utility is the ability for $xSD holders to stake and support a Validator node on their behalf, essentially becoming a node operator with very little capital required!
The final and unique utility on the list is that 3rd Party protocols can stake $xSD to leverage Stader’s infrastructure and contracts. In comparison to $LDO and other liquid staking tokens, it’s safe to say that $SD has a lot more utilities…
Conclusion
At the time of writing, $SD is currently priced at $1.11 with a small market cap of $41M. The $SD token had seen an ATH of $9.39 back when it first launched and with the Liquid Staking narrative expected to come back in full force, $SD could very well exceed its previous ATH.
Stader Labs Links
Disclaimer
The content provided in this article is strictly intended for informational purposes. Nothing said in this 1article is financial advice. It is important to proceed with caution and diligence when using cryptocurrencies. Always invest what you are prepared to lose and remember that you are entirely responsible for your assets and investments. The author and the publication do not endorse or recommend any of the cryptocurrencies, protocols or strategies in this article
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