Stader Update – Record-Breaking Launch on NEAR Blockchain

Stader Labs is a multi-chain liquid staking solution with a vision to empower 1Bn+ users to earn passive income through its staking infrastructure. Having launched on the erstwhile Terra in the November of 2021, Stader reached $1Bn+ in TVL with ~35000 wallets staking with it during its peak. The start-up then took a strategic decision to diversify across other Layer 1 blockchains too. As of today, the protocol is present across 6 major blockchains (Hedera, Polygon, Bnb, NEAR, Fantom, Terra 2.0) with $150Mn+ in TVL and 70K+ wallets that have staked with it.

Last month, on September 16th , Stader launched its upgraded NearX on the NEAR Blockchain. The upgraded NearX comes with a best-in-class multilayer security program including:

1. Three full audits by leading cybersecurity firms – Halborn, Blocksec and Osec

2. Bug Bounty in collaboration with Immunefi with upto $1Mn in rewards

3. Collaboration with Prometheus, the premium monitoring and alerting system to enable

   1. Tracking of all relevant metrics for $NearX across Stader Dapp and Dex’s

   2. Instant alerts to developer slack channels for faster responsiveness

4. Enhanced internal testing with additional unit and integration tests

5. Smart contract upgrades such as multi-sig led pause functionality to protect user funds in emergency situations

NearX has received an overwhelming response from the Near community and is currently standing strong at ~$6.5 Mn TVL with a boosted staking APY of ~25% (About 2.5X of the return on native staking). NearX is currently live with a NearX<>Near LP on REF and Jumbo. NearX is also live on two orderbook Dex’s – Tonic (NearX<>Near pair) and Spin (NearX<>USDC pair). The upcoming weeks will further see the NearX<>Near LP on Trisolaris; NearX being listed as a collateral on Burrow and NearX integration with Fluxus Finance on NEAR protocol. It will soon be available at Oin Finance too.

Some interesting updates on these integrations are as follows:

1. The…