Stader Labs X Decentralized Club Ama Recap From the 29th of April
Hello, Decentralized clubbers Another AMA took place in Decentralized Club and we would like to introduce to you the AMA session with our guest AG | Stader from Stader Labs. The AMA took place on the 29th of April .
Riswan Rasheed
Everyone welcome to our amazing ama❤️
Today’s Our Guests @agajjala from Stader labs
AG | Stader | will not dm for money
Thanks Riswan ! Super excited to be here and to talk about Stader with all of you!
Riswan Rasheed
Thanks for joining with us 😊
Let’s begin our Introduction Segment 📌
Please type “DONE” after answering every questions & when you feel you’re satisfied with your answers. 🤗
AG | Stader | will not dm for money
Sure!
Introduction questions asked by Dc Admin, Riswan Rasheed
Riswan Rasheed
Let’s do!!
Q. Hi @agajjala. Welcome to the AMA. Could you please introduce
yourself?
AG | Stader | will not dm for money
Thanks Riswan for hosting me!
Hi everyone :) I am Amitej Gajjala, Co-Founder and CEO of Stader Labs. I have 10+ years of experience in Business strategy and scaling start-ups across India, SEA and Europe. I am Amitej Gajjala, Co-Founder and CEO of Stader Labs. I have 10+ years of experience in Business strategy and scaling start-ups across India, SEA and Europe.
Before Stader, I had the privilege to serve in the Top Management at India’s largest Food tech App. Prior to that I was a strategy consultant at ATKearney.
I am a graduate from IIT Madras and went to Business School at IIM Calcutta. Sid (our Co-founder & CTO) is my friend from undergrad.
Sid and I have been actively investing in the crypto space since 2019. Over time we built deep expertise in bitcoin and alt coin mining and staking. This encouraged us to start Stader in April 2021 after an indepth analysis of the crypto and staking space.
Done
Riswan Rasheed
Great
Q. Tell us more about StaderLabs. What are you building?
AG | Stader | will not dm for money
Yeah. That’s my favorite question 🙂
StaderLabs is building the infrastructure of staking. Simply put, we enable 1-click staking with benefits like autocompounding, 1-click airdrops and more to help our users maximize passive income through Staking.
Staking is already a 300 Bn USD market and is poised to grow manifold.
Our dream is to bring this wealth creation opportunity to 1Bn+ users across the world.
Stader is building Staking middleware infra across multiple Proof-of-Stake networks for retail crypto users, exchanges and custodians. We are building extremely modular smart contracts so that third parties can leverage our components and build custom solutions.
Done
Riswan Rasheed
Q. Do you have any institutional investment or funding support?
AG | Stader | will not dm for money
We have been very fortunate in getting some of the best funding partners.
We are funded by top Institutional Blockchain investors like Pantera Capital. Coinbase Ventures, True Ventures, Jump Capital, Ledgerprime, 3 Arrows Capital, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment
Some of our prominent angels include Jaynti Kanani (CEO, Polygon), Sandeep Nailwal (COO, Polygon), Nemil Dalal (Head of Crypto, Coinbase).
Stader has had 2 rounds of funding, the most recent being a raise of $12.5Mn USD.
Done
Riswan Rasheed
Q: Can you tell us how you came with the idea to found Stader Labs and
the team behind it?
AG | Stader | will not dm for money
Sure. I would love to share the story of how we started up Stader. Looking back it does feel surreal.
When I learned about staking, I was super excited by the opportunity to earn rewards on my existing native crypto tokens.
However as a staker, I soon realized that the process was quite complex. I wished for a more efficient solution and hence decided to create one myself!
We identified that discovering & monitoring validator performance, collecting airdrops, monitoring portfolio across validators & blockchains are all quite time consuming and cumbersome activities.
We wanted to build a protocol that simplifies staking for all types of users. That was the genesis of Stader.
Now, our aim is to be a one stop staking infrastructure platform that can serve retail users, enterprises and mainstream fin tech applications.
Done
Riswan Rasheed
Q. An ambitious project requires a strong team. Tell us more about your
core team.
AG | Stader | will not dm for money
Talking about the team always makes me super excited! It’s a topic close to my heart.
We have an incredibly talented and experienced leadership team at Stader. We collectively have 50+ years of deep expertise in scaling companies across the world.
- Sid is our Co-Founder and CTO. He has a decade of technology and crypto experience. Alumnus of Columbia and IIT.
2. Dheeraj is our third co-founder and protocol lead. He has 10+ years of experience in building and scaling technology applications in blue chip silicon valley companies including Linkedin and Paypal.
Apart from the co-founders, the leadership group includes several top professionals from Ivy Leagues (Harvard, Columbia) and tier-1 companies across the globe including Mckinsey, BCG, ATKearney etc.
Done
Riswan Rasheed
Q: What are the major milestones covered till date and what’s the plan
in the near future?
AG | Stader | will not dm for money
Would love to share the milestones we have achieved so far as we look ahead to win many more future milestones!
We have been cruising at rocket speed across blockchains.
We launched in late November on Terra and have seen tremendous traction with over 850 M USD worth of staked assets so far.
So far we have received great traction on the Terra blockchain
We have launched the following staking products on Terra blockchain with a TVL of ~$850 Mn, 35000+ wallets, 8.5M+ $LUNA stader and a 100,000+ strong staking community
Our Key products include: Simplified Staking (Stake Pools)
Liquid Staking (LunaX)
Individual Validator Staking (Stake+)
Our progress on some of the other blockchains has also been exciting
1. We launched Liquid Staking on Hedera on 9th April 2022 & got ~5000 Users and 60+ Mn USD TVL on HBAR in the 1st week..
2. We also launched Liquid Staking recently on Polygon & Fantom.
For the future we envision:
- Expansion of Stader staking platform into multiple blockchains. We aim to be present on 10 blockchains (including Near, Polka, Eth etc) by the end of 2022.
- Building customized staking solutions for institutions and exchanges
- Allowing third party developers to build their own staking dApps with Stader smart contracts
Done
Riswan Rasheed
Q: Most of us know Staking, but you talk about Liquid Staking . What makes staking Liquid with Stader Labs?
AG | Stader | will not dm for money
Liquid Staking is a truly revolutionary concept
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 (LUNAx, HBARx, MATICx and so on) corresponding to the staked amount.
These tokens can be used to further amplify yields by participating in the Defi ecosystem while the locked tokens keep earning staking rewards.
So, now you get Staking rewards and Airdrops from staking, plus you have liquidity with the liquid token to explore additional yield farming opportunities.
Also, you can swap the liquid tokens instantaneously for Liquidity.
You can learn more about liquid staking in our blog : https://blog.staderlabs.com/introducing-lunax-b6ef85b04eaa
DONE
Riswan Rasheed
Q: The project has its own token, the SD Token, could you tell something about the Token Distribution and also the utility of the token? Is it Listed?
AG | Stader | will not dm for money
Stader’s Tokenomics is at the heart of the value Stader generates for its users
SD token is the native governance token for Stader protocol.
SD token will be critical for successful functioning of the Stader platform i.e. for key governance decisions, validator selection and exit criteria etc.
We aim to reward SD stakers with increasing returns as our TVL and protocol revenue expands.
As far as token utility is concerned, there are 3 major utilities of the SD token
1. SD token stakers will receive a % of protocol revenues as staking rewards. Further, xSD is given out when you stake SD tokens. This xSD can be locked up to receive a higher share of protocol fees and additional emissions. The xSD also entitles users to governance rights to redirect emissions, vote on validators policies etc.
2. Validators across stake pools and liquid staking will have to hold and stake SD tokens to receive preferential delegations.
3. Stader token holders can deposit SD-LUNA, SD-UST, SD-liquid LUNA pairs on Stader, and earn rewards for providing liquidity to these pools.
To understand more about our Tokenomics, read our blog: https://blog.staderlabs.com/sd-token-distribution-circulating-supply-94d48afc5dba
Done
Riswan Rasheed
Q. Has the token launched? And where is it listed?
AG | Stader | will not dm for money
Yes the token has launched!
Stader also had a historic token sale on CoinList Sale with 1.2 million+ registrations; the biggest ever.
Stader’s native token SD token was launched on 15th March 2022.
You can trade your SD tokens across DEXs like Uniswap, Sushiswap for SD (ERC-20) token & on Terraswap for whSD (CW-20) token.
You can also trade your ERC-20 SD tokens on Exchanges like Huobi, BitGet and Gate.io. We are under the due diligence process with other exchanges and will announce once they confirm listing.
Note — You can stake your CW-20 Stader tokens on Stader Dapp (https://staderlabs.com) and earn auto-compounding SD rewards.
DONE
Riswan Rasheed
Q: Our Community always likes to look forward, can you share your vision where Stader Labs stands in 5 years?
AG | Stader | will not dm for money
Yes! Will love to share our vision with everyone and we need all your support to get there 🙂
We want to be the largest protocol by staked assets across crypto in 5 years.
In that time period, we also want to achieve our TVL goal of >100 Bn USD. While we will cover all top blockchain in retail space, we will also expand to several other segments including institutional customers, exchanges etc.
In order to see how we are tracking against this goal and to learn more about what we are planning for the future, follow us on the below socials:
Website: https://staderlabs.com/
Twitter: https://twitter.com/staderlabs
Telegram Community: https://t.me/staderlabs
Discord: https://discord.com/invite/xJURAhSmav
Riswan Rasheed
Well done
WE will see a good future
Now Let’s move on to the second segment — Selected Twitter Questions ✅
AG | Stader | will not dm for money
Thanks Riswan ! Yes let’s move to the questions
Questions asked on Twitter for Stader Labs team!
Riswan Rasheed
I noticed that one of the products Stader Labs will offer to users is something called “Stader+”,
can you tell us more about it? How does this product really work? What do users need to do if
they want to take fully advantage of it? What kind of benefits will it provide to them?
https://twitter.com/solucanfurki/status/1519721160803590147?s=21&t=OJW5ejAj9EHJhzCOUv7qs
AG | Stader | will not dm for money
Yeah, Stake+ is a one of a kind offering that allows our users to stake with a particular validator of their choice while retaining the key features of our platform like auto-compounding and one-click airdrops.
This makes staking with your favorite validator even more rewarding! It further helps in providing visibility to smaller validators who have a great track record. Currently, Stake+ has 26 validators for Terra and we are focused on expanding this even further to bring greater choice to our users.
You can learn more about Stake+ here: https://blog.staderlabs.com/introducing-stake-with-stader-ba6c6128a08
Done
Riswan Rasheed
How do you choose validators to allocate Users staked assets ?What are your criteria to choose
these validators? Can users choose these validators by ourselves?
https://twitter.com/vicky79583658/status/1519721876288794624?s=21&t=OJW5ejAj9EHJhzCOUv7q
sA
AG | Stader | will not dm for money
Whenever you are staking with any validator on Stader, you can be assured they have undergone a series of checks before getting listed. Stader follows a stringent criteria for selection of validators.
These include:
- 30 Day Average APR
- Low Voting Power
- 30 Day Average uptime >= 99.85%
- Minimum 3 months of active status
- No slashing history over the last 3 months
- Preference is given to validators contributing to Terra community (As determined by Twitter survey conducted by Stader)
We clearly mention this validator selection in all outgoing communication
Stake+ Validator selection:
https://medium.com/staderlabs/stake-new-validators-added-146d4c11ee60
Stake pools Validator selection: https://blog.staderlabs.com/stader-validator-pools-next-steps-towards-decentralization-a6994a11b9b2
LunaX validator selection: https://medium.com/staderlabs/lunax-validator-expansion-2b2db79c48c4
Done
Riswan Rasheed
Q. I read that one of the products that Stader labs will offer will be the Stake Pools: that will
generate an Auto-compounding + 1-click Airdrop, so could you tell us a little about what this
“Airdrop in a single click” will be about? will it be an assigned amount of tokens?
https://twitter.com/gutike95s/status/1519829269156970497?s=21&t=OJW5ejAj9EHJhzCOUv7qsA
AG | Stader | will not dm for money
Sure. 1-Click airdrop claims is an important advantage that Stader offers its users. This means that users are able to claim all the airdrops they are eligible for, in just 1 click (as long as they are part of the snapshot)
Hence instead of the hassle of collecting multiple drops from different sources, you get all the airdrops with just a single click
This helps users to maximize the benefits from staking in a simple and convenient way
Done
Riswan Rasheed
Q. Stader Labs is a platform that allows users to Earn More from their Staking. So, I was
wondering, is Stader Labs designed for only advanced traders? Or will users that are beginning
be able to use the platform too? Will you have any kind of guides for them on the platform?
https://twitter.com/meml1997/status/1519831916974940162?s=21&t=OJW5ejAj9EHJhzCOUv7qsA
AG | Stader | will not dm for money
The goal of Stader is to make Staking so simple that anyone can benefit from it
We also want users of different expertise levels to benefit from Stader
Stader is hence built keeping in mind everyone from users who are new to the world of crypto to advanced & degen traders.
Design & interface is simple and easy to use with 1–2 click actions for all products.
No minimum or maximum amount or caps on any transactions
Guidelines & steps for all activities & 24 x 7 telegram tech support : https://t.me/staderlabssupport
Done
Riswan Rasheed
Do you charge any fee when locking our tokens into Staking Pools in #Stader? How much gas fee
do we pay when we stake it? In summary, how much does it cost us to use Stader Staking Pools?
https://twitter.com/vijayva30795209/status/1519724198616129536?s=21&t=OJW5ejAj9EHJhzCOUv
7qsA
AG | Stader | will not dm for money
There are no charges to stake or unstake on Stader.
Stader charges ~3% of only the rewards earned by the user as protocol fees. This varies slightly across products and blockchains.
Also, gas fees as applicable by the blockchain will be charged.
Done
Riswan Rasheed
Thanks for the wonderfully detailed answers.
Questions Asked by our Decentralized club members during live session to Stader Labs team!
Q.1 [Ana Manzano]
I read that the team is working with various DEX and money market protocols to allow for dual incentives, but can you tell us a bit about what these “dual incentives” would be? Would it generate as much income in native Starder tokens as in native Dex tokens?
AG | Stader | will not dm for money
Dual rewards imply that the user will get rewards both in SD tokens and the partner protocol’s tokens. For example, our proposal to add the LunaX <> Luna LP on Astroport offers SD and Astro rewards in a 1:1 ratio. You can read more about it here https://twitter.com/nicolasflamelx/status/1519709464886226944?s=21&t=r3xdOlBOoII-OtONmUHQxQ
Q.2[Deyenaikobi]
Do token holders have the right to participate in the management of other projects? Will they be able to vote on a new decision about the project?
AG | Stader | will not dm for money
SD token holders who stake their SD token, will receive the xSD tokens. The xSD entitles users to governance rights to redirect emissions, vote on validators policies etc.
Q.3 hello sir : According to the roadmap, what is your most important next priority? Do you have enough funds and strong community to achieve the goal?✍️✍️
AG | Stader | will not dm for money
One of our most important product priorities is launching Degen Vaults. This will provide a plethora of yield farming opportunities to LunaX holders helping them earn juicy rewards over and above their staking yield. We already launched the Beta version with a vault cap of 5000 LunaX that maxed out in 12 hours. We are now super excited to launch the uncapped version
Q.4[Free Motion]
I want to buy your token. is it listed
🔥🔥🔥🔥🔥🔥
1.Pancakeswap.
2.Binance.
3.Kucoin.
4.MEXC OR Any Exchangers?
Where can I buy your tokens now?? Can you tell us please?
AG | Stader | will not dm for money
You can trade your SD tokens across DEXs like Uniswap, Sushiswap for SD (ERC-20) token & on Terraswap for whSD (CW-20) token.
You can also trade your ERC-20 SD tokens on Exchanges like Huobi, BitGet and Gate.io.
Q.5[NABILHASAN]
I saw users on Stader Labs can become Validators and participate in “Validators Pools”, can you tell us more about this? How can someone become a Validator on Stader Labs and what will they have to do? Also, how can they join this pool and what rewards can they get from it?
AG | Stader | will not dm for money
We follow a stringent criteria for validator selection. Factors include: Descending order of 30 Day Average APR*
Voting Power >=0.25% and <= 2.5%
30 Day Average uptime** >= 99.85%
Age on Terra >=90 days
No slashing history over the last 3 months
Preference is given to validators contributing to Terra community (As determined by Twitter survey conducted by Stader)
You can learn more about our validator selection process for say LunaX here https://medium.com/staderlabs/lunax-validator-expansion-2b2db79c48c4
Done
HELPFUL LINKS :
Website: https://staderlabs.com/
Twitter: https://twitter.com/staderlabs
Telegram Community: https://t.me/staderlabs
Discord: https://discord.com/invite/xJURAhSmav