hosts an AMA with Stader Labs BNB. #StaderLabs #BNBChain #BSCDaily #AMA

Coinwire Admin: Good day to you fam! And welcome back to another wonderful AMA with BSCDaily 🙌 whoop whoop. Today I’m honored to have Mr. Vansh Batra – Business Manager at Stader Labs BNB over to share their BNB Chain Liquid Staking Solution to our community. Hello Vansh Batra, how’s everything?

Vansh Batra: Hi Everyone! Thanks for having us. Pleasure to be here.

Coinwire Admin: Always a massive pleasure to have the good people of Stader Labs over to our ecosystem! I hope you’re all set for this AMA!

Vansh Batra: Absolutely!

Coinwire Admin: You sound ready alright! 💪So without further ado, let us begin our AMA with the first segment: Q&A with the host, shall we? 

Vansh Batra: Let’s go 🙂

Coinwire Admin: Perfect 💯. Stader Labs is no stranger to the DeFi community, you guys have been making your name in various popular chains, and now Stader is moving to BNB next. My first question for you is:

Q1: Tell us about Stader Labs. What are the major milestones covered to date?

Vansh Batra: Sure,  A little intro to start with. Hi Everyone, thanks a lot for inviting us. I am Vansh from Stader Labs, I’m working as a Business Manager for Stader’s BNB offering. Stader Labs is building the infrastructure of staking. Our dream is to make staking mainstream and bring this wealth creation opportunity to 1Bn+ users across the world. Simply put, we enable 1-click staking with benefits like auto compounding, validator management, DeFi integrations and more to help our users maximize passive income on their native crypto tokens through Staking.

We are supported by top Institutional and Blockchain investors like Pantera Capital, Coinbase Ventures, True Ventures, Jump Capital, Ledgerprime, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC and Figment. Some of our prominent angels include Jaynti Kanani (CEO, Polygon), Sandeep Nailwal (COO, Polygon), Nemil Dalal (Head of Crypto, Coinbase). Stader has had multiple rounds of funding as well and has a long runway.

Other than BNB, we currently live on Near, Polygon, Hedera, Fantom, Terra 2.0, and there are 24K+ users who work with us across these networks. Our current TVL is ~$135Mn. On BNB we’ve clocked almost ~$16.5M TVL and $11M+ in BNBx based pools.

Coinwire Admin: And how long did it take to achieve this number?

Vansh Batra: We launched our BNB staking solution on Aug 1st week. so, here we are in just 3 months of launching in a bear market like this 🙂

Coinwire Admin: Incredible! there are major volatilities recently, and Stader still managed to keep your grounds

Q2: What has Stader built for the BNB chain? What are the major milestones covered to date?

Vansh Batra: We have built out our liquid staking solution on BNB. While simple staking provides users with passive income, it locks in their tokens limiting its utility. Liquid staking helps overcome this limitation. With our liquid staking product, when users stake with Stader, they get liquid tokens (BNBx) corresponding to the staked amount of BNB. These tokens can be used to further amplify yields by participating in the DeFi ecosystem while the locked tokens keep earning staking rewards.

BNBx is a reward-bearing liquid token i.e. the value of 1 BNBx token vs. BNB increases over time as staking rewards accumulate. As of today, this rate is approx 1.045. i.e. 1 BNBx = 1.045 BNB. So, a 4.5% gain already.

With Stader, you get Staking rewards plus you can use the liquid token to explore additional DeFi yield farming opportunities, thus earning even more yields. Also, you can swap the liquid tokens instantaneously for Liquidity. In just 3 months of launch, we’ve touched almost ~$16.5M in TVL by 2000+ users. We’ve also integrated with 8 DeFi protocols offering a wide range of DeFi strategies to BNBx holders and have crossed $11M+ in BNBx based pools

Coinwire Admin: BNBx seems like a catch in this bear. Also, I noticed that there are quite some DeFi protocols being launched recently, and they also achieved great numbers. So:

Q3: What are the advantages of BNBx over other competitors?

Vansh Batra: Yea, so, unlike most of the other BNB staking solutions currently present in the market, liquid staking BNB with Stader has 4 main advantages:

  1. Instant Liquidity: When you stake your BNB with Stader you get back our liquid token BNBx that represents staked BNB. BNBx can be swapped to BNB on a DEX without waiting for the unstaking period.
  2. DeFi Opportunities: With our BNBx tokens, stakers not only get instant liquidity but also have the option of participating in yield farming opportunities to amplify yields based on your choice of risk. Today, a BNBx can holder can earn anywhere between 7-70%DeFi  yield on their BNBx on top of staking yield they are accruing by holding BNBx
  3. Auto-Compounding: With Stader’s solution, the rewards generated through staking will be restaked automatically. This is in contrast to the traditional staking solutions of BNB where the user has to manually stake their rewards back into nodes. This feature helps investors gain more returns from their BNB.
  4. Auto-Rebalancing: Stader monitors and manages the validators for you, so get a balance between APR and diversification. We constantly monitor key health metrics for all validators like uptime, slashing history, fee, APR, etc, and optimize the BNB allocation across various nodes so that you get the best risk /reward balance.

So while plain staking would get you 3-6% return and your position would be locked, with BNBx you can earn much higher yields (BNBx based pools also carry low IL risk since BNBx is an asset pegged to BNB) and you can also swap out of your position anytime without locking up your position

Coinwire Admin: In short, staking with Stader is much more flexible and profitable than others 🤑 #NFA of course. And as you said, you’ve been partnering up with 8 DeFi protocols up until this point. With those partnerships comes various DeFi pools

Q4: What is BNBx Portfolios product? What are its advantages?

Vansh Batra: So BNBx portfolios is our upcoming product which we’re launching next week and is built on top of our staking solution / BNBx. BNBx Portfolios is a set of smart contracts that will take BNB/Stablecoins deposits and deploy them across DeFi protocols including staking with Stader. There will be several Portfolios and each one will be associated with a specific strategy, risk and time lock, etc. User decision-making will be simplified with easy-to-understand risk levels and strategy explanations, with detailed information available in one place. Additionally, Stader will automate all the operational tasks so that you don’t have to worry about managing multiple tokens across multiple protocols

Why this product? Well here are the core advantages for users:

  1. Curation: Stader will curate different possible strategies and assess them as per their risk parameters. Furthermore, all strategies will be based on protocols that have been audited and have a good adoption in the ecosystem
  2. Convenience: Stader will automate the operational processes associated with executing the trading strategies, eliminating the need for users to deal with multiple protocols and governance tokens. They can just deposit funds with a single click
  3. Outperforming Yields: Depending on the strategy, Stader will compound the returns received by investing them back into the vault thereby optimizing yield for users

Coinwire Admin: DeFinitely will take my time and learn more about this new feature for sure. Here’s the link for you guys to research more on this:

With that being said, please briefly explain how we can use it to maximize profits:

Q5: When and how can users start using BNBx Portfolios?

Vansh Batra: Sure. So, BNBx Portfolios solution is slated to launch on Tue, 15th Nov 2022. 

The link to BNBx Portfolios will appear on the Stader BNB Dapp ( Users can access the solution here and start earning yields by depositing their BNB on this link.

Stay Tuned on our socials for a step-by-step guide on depositing your BNB across available strategies on BNBx portfolios.

Coinwire Admin: Ok now here comes the good stuff 🤩I know you said more info will be updated about BNBx Portfolios

Q6: But can you tell us which strategies go live first on BNBx Portfolios? What strategies can users expect to earn yields on with their BNB?

Vansh Batra: The first portfolio to launch is the BNBx simple LP account, which will take BNB from users and stake it with Stader to convert to BNBx and then deposit the BNBx in an LP pool. This will be based on top of our staking solution + Wombat exchange’s BNBx LP. This will be no / minimal impermanent loss or liquidation risk, making the entire strategy a Low-Risk one. (since BNBx is pegged to BNB). Users can earn 10-15% APY on BNB with just a single click with no lockup using Staking + liquidity in a single-sided BNBx pool.

Here are 4 Reasons to invest in BNBx simple LP account

  1. High Yield (10-15%): User deposited BNB will be staked in Stader’s liquid staking solution to mint BNBx. The BNBx minted will be deposited in Wombat’s single sided BNBx pool. Rewards will be added to the pool every 24h and reinvested in the strategy to implement auto-compounding
  2. Instant Liquidity (No Lock Up): Users can withdraw their investment at any time for no fee in BNBx. Withdrawals in BNB can also be done at any time with a fee to cover swap costs
  3. Low Risk (Near-Zero Impermanent Loss): Given BNBx is pegged to BNB, the IL risk in this strategy is minimal. So is the smart contract risk as both Stader & Wombat have undergone multiple independent audits and have multi-level security checks in place.
  4. Convenience (Automated Deployment of Strategy):  Stader will automate the manual processes of executing the trading strategies. Users can just deposit funds with 1 click. Rewards accumulated from the Wombat pool will be optimized between lockups for boosted rewards and liquidation for auto compounding

In the coming months, we will also launch more strategies catering to different user segments with different risk appetites and reward expectations. The idea is to serve as many as user segments as possible, give them the yield adjusted to their risk profile without compromising user convenience

Coinwire Admin: Finally! Here’s the last question for you Vansh Batra, and it’s an equally important one considering recent events

Q7: How is Stader ensuring security on its platform?

Vansh Batra: Sure, security is paramount for Stader. We ensure high level security checks and achieve this by:

  1. Code review & testing by BNB chain
  2. Regular independent audits of our smart contract – Our BNB solution is audited by top firms Halborn and Peckshield
  3. We use Multi-sig accounts for changing smart contract parameter
  4. We also deploy Real-time on-chain security tracking by Forta to alert on any security threats

For partner DeFi protocols where users’ BNB will be deployed as a part of BNBx portfolios, Stader is ensuring that all such partner protocols follow multiple security checks including multiple independent audits and ongoing monitoring practices. We also have a bug bounty program where bug hunters can get up to $1Mn reward – we’re that confident in our code 🙂

Coinwire Admin: With this we are now at the end of our AMA session with Stader Labs BNB🔥🔥🔥

Time for wrapping up, any last words you would like to say to our community?

Vansh Batra: Absolutely! Please join our TG channel, and we’ll be happy to answer your queries. Thanks everyone for joining in!

Coinwire Admin: Thank you Vansh Batra for coming on and teaching us about Stader Labs BNB! Best of luck to you and Stader 🥳

Vansh Batra: Thank you!

Coinwire Admin: Take care 🙌