Several new initiatives are helping bring more TVL and activity to Stader.
$20M BNB Staked on Stader
Stader Labs surpassed the $20 million mark for staked BNB coins on its platform in the first week of November. There is now 57,555 BNB staked on the platform.
Stader offers Annual Percentage Yields (APYs) over 5% for users who stake BNB on its platform. But users of the platform will soon be able to get massive APY boosts through a Stake, Refer & Earn Campaign that will begin on November 7. The campaign will boost APYs for BAB holders who successfully bring friends to use the platform. The APY percentages are expected to be in the 100s.
Stader also launched new BNBx Portfolios, which serve as BNB DeFi Savings Account. Users can safely stake BNB to earn high yields with a low-risk investment strategy.
Stader Labs has over $170M staked across all its integrated chains. With the price of BNB surging to heights last seen in Spring 2022, the total volume locked in relation to BNB will continue to rise.
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.
Where to find Stader Labs:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.