AMA Recap

AMA Recap: Stader

Basic information

Time: 2 PM UTC | Jun 28th

Project name: Stader

Host: Andrew from BSC Army

Guest speakers:  Gautam Midha – BNB Business Head at StaderLabs

Main content:

  • Segment 1: Introduction
  • Segment 2: Twitter’s questions
  • Segment 3: Live Q&A

MAIN CONTENT

Andrew: Rules:

🔸Join Stader Telegram | 🔸 Follow Stader Twitter

🔸Join Barmy Telegram | 🔸 Follow Barmy Twitter 

👉Fill Stader BNB Exclusive Alpha Contest Sign-up Form

Welcome to Gautam – BNB Business Head at StaderLabs. How are you today?

Gautam: Excited to be on. Thanks for having me and giving us the opportunity.

Andrew: Our AMA will be divided into 3 separate segments.

🔸Segment 1: Introduction (5 question)

🔸Segment 2: Twitter questions (5 questions)

🔸Segment 3: Live Q&A (5 questions)

Please send a sticker or ‘Done ✅’ every time you finish your answer.

Gautam: Sounds good, let’s get cracking !! 

Segment 1: Introduction (5 questions)

1. Could you please briefly introduce Stader to our community?

Gautam: Sure, Stader Labs is building infrastructure of staking. Simply put, we enable 1-click staking with benefits like auto-compounding, auto-rebalancing  and more to help our users maximize passive income on their native crypto tokens 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

Andrew:  Good answer.

2. Could you please introduce your core team members and what are their roles in Stader?

Gautam: Talking about the team always makes me super excited! It’s a topic close to our hearts. 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.

Talking about our 3 co-founders

  • Amitej Gajjala is the 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. 
  • Sid is our Co-Founder and  CTO. He has a decade of technology and crypto experience. Alumnus of Columbia and IIT.
  • 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 (including me ) from Ivy Leagues (Harvard, Columbia) and tier-1 companies across the globe including Mckinsey, BCG, ATKearney etc.

Andrew: We believe that with your experienced team, you will bring Stader to the moon.

3. Partnership is always one of the most important aspects of every project. We just want to know more about Stader’s partners.

Gautam: That is an interesting question, let me answer that in 3 parts because there are multiple  types of partnerships in our business

  • Investment 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).

Apart from the obvious operation capital, they help to think through strategy, team building and provide connects to other partners

  • Next comes Foundation/Chain partners:

We have a good relationship with the foundations or central teams (including the BNB Smart Chain) of each chain/ network we build on. The foundations help in a number of ways including connecting with various protocols and KoLs on the network , helping to reach out to large token holders, reviewing code architecture and providing technical support from time to time, combining the reach of foundation marketing channels to spread the word about the platform.

  • Lastly and most importantly its our Operational partners:

We also partner with protocols/ dApps in every chain/network we go to. These are typically DEXs, Lending protocols, Yield aggregators , Wallets etc. We integrate our solution with these complementary applications and fund joint marketing campaigns to cross pollinate users

Andrew: We could see a lot of big names here such as Coinbase, Pantera, and Binance. We hope that with these big names, Stader could take advantage and become a huge and famous project.

4. You’re launching soon on the BNB Chain, and we’re excited to hear about your plan for it. (building community, any special features, etc.)

Gautam:  To solve these issues and move the staking ecosystem on BNB Chain to the next level, Stader is introducing its liquid staking solution to the ecosystem. This is how it works:

  • Users stake their BNB with Stader and receive a synthetic token — BNBx.
  • Stader pools the BNB together and optimally stakes it to validator nodes — balancing diversification, APR, and fee.
  • The rewards generated from staking are added back to the pool and the value of BNBx (in terms of BNB) increases.

But we don’t stop there, Stader will partner with major DeFi protocols on the BNB Chain including DEXs, money markets, and yield aggregators to ensure our users can enjoy a wide range of DeFi opportunities — such as providing liquidity on DEX pools or using BNBx as collateral to borrow other assets. Participating in these will substantially increase the yield that holders make on their BNB tokens.

With this in mind , below are some of the advantages of our solution

  • Auto-Compounding: With Stader’s solution, the rewards generated through staking will be reinvested back in the validators. This is in contrast to the current staking solutions of BNB where the user has to manually stake their rewards back into nodes. This feature helps investors gain significantly more returns from their BNB.
  • 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.
  • Instant Liquidity: When you stake your BNB with Stader you get back our liquid token BNBx. BNBx represents your portion of the stake pool and you can freely transfer or sell your token at any time.
  • DeFi Opportunities: With our BNBx tokens, stakers not only get instant liquidity but also have the option of participating in yield farming opportunities based on your choice of risk.

Thus, Stader’s liquid staking solution provides better yield opportunities along with more convenience than current alternatives.

5. Could you give us a small sneak peek about which chains are you targeting besides BNB Chain?

Gautam: We are live on 4 chains already (Polygon, Hedera, Fantom, Terra 2.0) , soon we will be live on Near and BSC. We are also evaluating other chains like Solana, Eth and others to find the right time to build there.

For the future we envision:

  • Expansion of Stader staking platform into multiple blockchains. We aim to be present on 10 blockchains by the mid of 2023.
  • Building customized staking solutions for institutions and exchanges
  • Allowing third party developers to build their own staking dApps with Stader smart contracts

Andrew:  Hope to see that 😄

Segment 2: Twitter questions (5 questions)

Andrew: We have chosen 5 best questions from our audience from Twitter

6. Who is the leading competitor in Stader ‘s blockchain market? What are the strengths to help the project overcome competitors? @elondrawl

Gautam: Leading competitors for Stader are staking contracts which are typically single product multi chain like LiDO or single product single chain like Marinade . Stader is the only multi chain multi product staking platform

Our modular approach to building smart contracts sets us apart from other staking protocols. As staking evolves our architecture allows flexibility to grow and incorporate new features day in and day out. Extensibility is woven into Stader’s technical blueprint, with a system of highly-interactive smart contracts.

Apart from this we have a great team that executes very well and that counts for a lot when it comes to satisfying users

Andrew: That seems like Stader will be the unique multi chain multi product platform. Sounds promising 😄

7. What plans do you have to grow rapidly in terms of users, global market and partners? What are your strategies for building a big and strong community? @Lin_0011

Gautam: Really knowledgeable question from the community, growth is one of the biggest challenges for a DeFi protocol today. We use a mix of strategies to attract users to the platform. 

The primary channel is Twitter , where we have dedicated accounts for each of our chains and we post educational as well as informational content on these handles which aims in discovery of our product. We also run email campaigns to users who have subscribed to our newsletters and information channels.  

Additionally, we do AMAs in partnership with various groups and KoLs prominent in each ecosystem.

In the future we plan to  experiment on different chains with various other channels, like Reddit, Youtube, Advertising on websites, referral programs and social media ads. Some of these initiatives are already underway.

Andrew: You have had a well-prepared marketing scheme right? That attracting users is really important and you are doing it really well.

8. Stader has many articles written about technical components of your business, but my question is: is your platform intuitive enough for users who are not used to blockchain platforms to use it easily? @Aldebaranzzz

Gautam: Absolutely, we work tirelessly on improving the user experience on our dApp and today folks can stake their assets in a handful of seconds with just a couple of clicks. This is as fast as it gets.

We are also constantly looking at making improvements to our communications in order to make sure we present the product in the simplest format. Lastly there are also integrations (especially with wallets) and automations (for things like token association on certain chains) that help in creating a smooth user experience.

Andrew: I think investors also need to deeply research about the project before they start investing. So, it is not really a big problem.

9. Hacking has become more sophisticated, and the potential for cyber strikes is a high terrifying menace. So, how secure is the Stader platform? What security methods and systems does Stader employ to secure user staking assets? @LinhNguy1369

Gautam: Great question, security for us is a constant exercise of staying ahead of the curve , we do this in a few ways

  • Using the latest security best practices in designing and developing our solution
  • Third party audits with reputable firms – all our products are launched with at least one third party audit and for a large chain like BNB this will most likely be two. Additionally we make sure there is constant scrutiny on the code and we retest it from time to time.
  • One thing about multi chain is that you get to see security best practices across networks and we have built on our learning from other networks to make sure all our solutions are best in class
  • Lastly, core team/foundations of major networks also help in stress testing the code and security. These are folks that have seen multiple projects and hence we value their input a lot.

Andrew: I think that partnering with big ventures is also a strong affirmation to the investors that we are safe and secured. Am I right?

Gautam: Yes, it makes sure we follow the best possible standards

10. Could you please share with us about your achievement? Can you describe in detail the current development efforts, such as market expansion plans, expected applications & new upcoming program of events? @HomeMinister420

Gautam: Its been an amazing journey for us so far, with huge highs and deep lows. But we see this as just the beginning of bringing staking to the masses. So, when take our “achievements” with a big helping of humility. 

With that as context and answering your question – we are currently live on 4 chains with at least one staking product. Since launching on November 23, 2021, our solutions acquired significant traction with our high watermark numbers coming before the ongoing crash at:

  • 40k+ unique wallets staking
  • $850M+ TVL 
  • 50k+ strong community

Andrew: Numbers speak louder than word. What an impressive statistic.

Gautam: On future plan as we discussed on the roadmap question, our aim is 

  • Expansion of Stader staking platform into multiple blockchains. We aim to be present on 10 blockchains by the mid 2023.
  • Building customized staking solutions for institutions and exchanges
  • Allowing third party developers to build their own staking dApps with Stader smart contracts

Segment 3: Live Q&A (5 questions)

11. Can you give an overview of your Tokenomics, and the UTILITY of Token? @Zulema_frierson

Gautam:  Ok firstly it is not necessary to hold our token (SD token) in order to participate in staking through our platform. Having said that the major utilities for Stader SD tokens are: 

  • SD token stakers receive a % of protocol revenues as staking rewards or buy backs 
  • Second major driver for SD token is validators across stake pools and liquid staking will have to hold and stake – SD tokens to receive preferential delegations. 
  • The third utility is the following: Stader token holders can deposit SD token LP pairs on DEXs and earn rewards for doing that.

12. What makes your “Stader.BNB” interesting in this bear market period when everyone is bored? @Shantelle_earle_29

Gautam: Well we put a very interesting post on this on our Twitter as , the bear market is exactly where long term holders can make an outsize return. You can make potentially 86% more in a couple of years by staking and participating in DeFi with your BNB , rather than just holding it . For more details and assumptions see here.

13. How did you get the community involved in developing the project? and how do you build a strong community to grow globally? @Donya_Scarborough

Gautam: We have multiple channels through which the community can get involved. On BNB currently we have a Twitter handle but soon we will also have a TG group for real time communications and product queries. For us the most important thing is building something useful for the community and we make sure that we incentivise our users to give us feedback by running campaigns.

14. Do you have a user manual or short videos that would guide potential users of the project to safely navigate your platform? @arethacamp

Gautam: These will be created closer to our launch, which is expected to be in July, we will publish these across our socials. Additionally we plan to run contests for content creators as well where the most helpful user videos each week get a small reward from our side.

15. Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about? @mhayes3F

Gautam: Yes like we mentioned building a differentiated product is the most important thing for us and we have 4 key features which are advantageous for the user , the  most important of this is probably the DeFi participation option:

  • Auto-Compounding
  • Auto-Rebalancing
  • Instant Liquidity
  • DeFi Opportunities

Andrew: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know.

Wish you all the best and we hope that we could see a powerful Stader day by day. 

Thank you! It’s our pleasure to have you today.

Gautam: Thank you for having us and thanks to all the members for tuning in and their questions.

CONCLUSION

Up to now, Stader has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.

Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.

BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate. 

 

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