Liquid Staking Protocol Stader to Launch NFTFi Collection to Boost Yields

Liquid staking platform Stader Labs is taking a step into NFTFi with the launch of their yield-boosting Gen0 NFT collection on Chamcha NFT Marketplace.

Feb. 20 Mint on Chamcha NFT Marketplace

Multichain liquid staking protocol Stader Labs is delving into NFTFi with the launch of its first Non-Fungible Token (NFT) collection that will boost $BNB staking yields for holders.

The Gen0 Stader collection consists of 500 NFTs, to be minted on Chamcha NFT marketplace starting Feb. 20.

Antonio Morales, Head of Community + Ecosystem at Stader, joined Anthony of Chamcha for a Twitter Spaces event where they discussed the NFTFi project and other developments from Stader.

“What the NFTs are going to do is that depending on the rarity of the NFT, they’re going to give you a boost of APY between 20% to 50%,” Morales said.

Currently staking $BNB to receive Stader’s $BNBx gives an Annual Percentage Yield (APY) of about 5%. For a three-month period, holders of Stader NFTs will have those APYs boosted according to the number and rarities of their NFTs.

While this Gen-0 collection is only for BNB on BNB Chain Morales said Stader is currently live also on Polygon, Hedera, Fantom, and Near. They plan to launch Ethereum liquid staking in about a month, followed by Aptos and Sui, and possibly Avalanche.

On BNB, Morales said Stader is looking to integrate BNBx into the chain’s largest Decentralized Finance (DeFi) protocols PancakeSwap and Venus Protocol very soon.

About a week ago, Morales and Stader Founder & CEO Amitej Gajjala participated in The WAGMI Ventures Podcast where they talked about the beginning, present, and future for the platform.

What Is Stader Labs:

Stader Labs was founded in April 2021 by Amitej GajjalaSidhartha 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 Labs raised $12.5 million this January in a strategic private sale, raising their valuation to $450 million. Stader Labs is backed by Pantera CapitalCoinbase VenturesJump CapitalAccompliceAccelHuobi VenturesHypersphere, and True Ventures, among others.

Where to find Stader Labs:

Website | Twitter | Medium | Telegram | Discord

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