BSCDaily.com hosts AMA with Stader Labs. #StaderLabs #BSC #BSCDaily #TerraLUNADaily
BSCDaily Admin: Hello everyone! Today I have here with me Mr.Sid and Mr.Amit – two of the founders at Stader Labs.
Welcome to the Terra Daily community! Are you doing great today?
Mr.Sid: I am doing great, thanks for inviting me to the AMA.
Mr.Amit: Thanks a lot. I am doing great and glad to be here with you today. Hope you all are having a wonderful day. And many thanks for having us here
BSCDaily Admin: What a treat! We have 2 founders taking their time to be here with the community! I’m sure as the co-founders, you must be swamped. And I think the people here are also excited for this AMA, so shall we begin now?
Mr.Sid: Same here, excited to talk about Stader!
Q1: What is Stader Labs and who is the team behind the project?
Mr.Sid: Stader Labs aims to be an infrastructure platform for staking and solutions to be built on staking. In short term, we are building simplified staking and liquid staking on Terra & Solana with applications on top of staking like auto-compounding, 1-click airdrop claiming etc.,
I am Mr.Sid, Co-founder and CTO. I have a decade of experience in building startups and building mining farms & optimizers, based out of New York. Started Stader Labs 6 months ago along with Mr.Amit, Co-Founder and CEO, and has 10+ years of experience in business strategy, startup scaling across India, SEA & Europe. We have a 20+ rockstar team building Stader!
Q2: What problems does it solve, if you don’t mind?
Mr.Sid: Stader solves the problems faced by stakers today. They face problems right across the staking value chain: discovering validators, managing staking rewards, claiming airdrops, finding strategies on staking rewards etc., We are simplifying and automating all those with our smart contracts. Along with that, creating liquid tokens that can be further leveraged in DeFi protocols.
Q3: How does Stader benefit the stakers?
Mr.Sid: It benefits stakers with 1-click staking across multiple validators, 1-click airdrop claiming, auto-compounding, automated yield strategies on rewards. Additionally we have liquid staking that helps avoid a 21-day unstaking period. All the above increases effective yields from staking.
Liquid staking will have DeFi utilities for LunaX(our liquid staking derivative on Luna).
Q4: What will Stader do with my rewards?
Mr.Sid: Here is the interesting part, when users stake with our plain staking pools, we will give multiple options to stakers to use their rewards
1. We can auto-compound the rewards frequently
2. We can take the rewards and put them into yield protocols, DEXs etc., to generate higher yield
3. We can direct the rewards towards launchpads
4. We are working with gaming projects to build a no-loss lottery with rewards.
So essentially, stakers can select what to do with their rewards.
Q5: Will Stader reach other PoS networks (Ethereum, Solana, Polkadot, Secret, Cosmos)?
Mr.Sid: Yes, as we are.
Currently our Solana contracts are already audited and we will be launching soon. And we are developing on EVM chains like Phantom, Ethereum etc.,
Q6: So Stader has launched a community farming event on Terra. What are the community farming basics?
Mr.Sid: We launched community farming both on plain and also liquid staking.
The liquid staking community farming is still going on. You have to stake Luna and mint LunaX. You can farm SD tokens by providing Luna <> LunaX LP on terra swap. 1% SD tokens are allocated for the liquid staking farming.
On plain staking 2% SD tokens have already been farmed. Now, you can enjoy the benefits of Luna auto-compounding with your staked Luna.
Please keep in mind both are separate products.
Q7: Can you explain the difference between the two – plain staking and liquid staking?
Mr.Sid: Stader has 2 products. One is stake pools(plain staking) and the other is liqduid staking(LunaX)
1. Plain staking has 3 validator pools right now, Blue chips, Air drops plus and Community validators. You can stake with any & enjoy Luna auto-compounding. Here we convert stable coin rewards into Luna & auto-compound.
2. Liquid staking – with this you will be able to mint LunaX when you stake Luna. Using LunaX, you can provide Luna <> LunaX LP on Terraswap. In the future, we can add multiple strategies on LunaX like borrowing, leveraged staking etc., Our recent proposal to list LunaX as collateral on Mirror got passed!
Q8: What about the vesting period?
Mr.Amit: Hi. Vesting period is 6 months after the end of the first 2 months of community farming.
BSCDaily Admin: Will it be the same for plain staking and liquid staking?
Mr.Sid: For TGE, we are talking to a global launch pad. Will update the details soon
And yes, we are conscious of huge price dumping that may happen when lots of tokens are unlocked at the same time.
Hence we have a protection mechanism where we vest tokens periodically.
The vesting period will be the same for both plain staking and liquid staking stakers. You will get 15% of your stader tokens that are farmed at TGE, the remaiing 85% will be linearly vested over next six months.
Q9: Ok so what about the fees if the users want to withdraw from plain staking and liquid staking?
Mr.Sid: The fee structure is going to be different for plain staking and liquid staking. For plain staking, it is going to be 3% of the rewards, we pay for the gas fees, aidrops claim. Stakers don’t need to pay any.
For liquid staking, the fee structure is going to be slightly higher. It is 5% of the rewards till Feb 9th. Changes to it will be announced later. Same as plain staking we pay for the gas fees, aidrops claim. Stakers don’t need to pay any.
Q10: Last, but most important question! With the upcoming launch of the Stader token, can you explain to us the utilities of the token?
Mr.Sid: Very important question, it is critical for the project. There are going to be 4 major utilities for Stader tokens.
1. The validators will have to stake a minimum amount of SD tokens. The amount of delegations that are going to be distributed to different validators in a pool, will be somewhat proportional to their token stake. At the same time, these SD tokens will be used as an insurance against slashing risks.
2. Whoever stakes SD tokens will get a small discount on the fees that we are going to charge across our staking solutions.
3. Stader token holders can deposit sd-luna, sd-ust, sd-lunax pairs on Stader and earn rewards for doing that.
4. The SD token stakeholders will get a chance to propose & vote for different types of policies like validator addition, exit of validators etc.,
BSCDaily Admin: So I have a follow-up question. How does the Stader platform make revenue?
Mr.Sid: We got revenue in 2 different ways. The first one has to do with the fees that we are going to charge on our staking solutions.
The second major source is going to be via non-crypto native integrations that we are actively building today. Currently we are piloting with one of the largest custodian & hardware wallets in the world to build whilte label staking infrastructure. A lot of revenue will accrue to Stader from JVs like that.
BSCDaily Admin: With this we are now at the end of our AMA session with Stader Labs🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Mr.Amit: Thanks a lot for hosting this and having us here. Thanks a lot everyone for being great audience
BSCDaily Admin: Thank you Mr.Sid and Mr.Amit for being here with us and answering our questions about Stader Labs, I know you are all busy men. I appreciate that!
It has been a pleasure!
