The new DeFi Simple LP Account from Stader Labs offers 14% APY on users’ BNB deposits, which are converted to BNBx and staked on Wombat Exchange.
Partnership With Wombat Exchange BNBx Pool
BNBx Portfolios are finally live on the Stader Labs platform, simplifying users’ access to liquid staking yields on BNB Chain while attempting to minimize risk.
“BNB DeFi Simple LP account aims to provide a low-risk strategy for users to earn a yield on their BNB with no lockup using a combination of staking and providing liquidity in a single sided BNBx pool. The rewards will be added to the pool every 24 hrs and you can withdraw your deposits instantly (no lockup/waiting period),” according to Stader.
In order to utilize the DeFi Simple LP Account, users deposit BNB coins, which are staked on Stader to mint BNBx liquid staking tokens, which are then deposited into Wombat’s single-sided BNBx pool.
Rewards are auto-compounded, and users can withdraw their investment with no waiting period and no fee in BNBx. Users who wish to withdraw in BNB pay an additional fee for swap costs.
The total size of the Portfolio is limited to 10,000 BNB (about $2.65 million).
The Stader-Wombat offering is the first of multiple Portfolios that Stader intends to launch.
What Is Stader Labs:
Stader Labs was founded in April 2021 by Amitej Gajjala, Sidhartha Doddipalli, and Dheeraj Borra. It specializes in cryptocurrency stake management. Stader plans to use decentralized financial protocols and applications to manage stakes efficiently on public blockchain networks. Currently, the company’s staking product is available on Hedera, Polygon, BNB Chain, NEAR, Terra 2.0 and Fantom blockchains. Stader plans to extend its support to Solana, Ethereum and Avalanche soon.
Stader Labs raised $12.5 million this January in a strategic private sale, raising their valuation to $450 million. Stader Labs is backed by Pantera Capital, Coinbase Ventures, Jump Capital, Accomplice, Accel, Huobi Ventures, Hypersphere, and True Ventures, among others.
Where to find Stader Labs:
Source : bsc.news
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