Stader Labs
Staking · Liquid Staking · ETHx
Stader's ETHx is a non-rebasing Ethereum liquid staking token built on a multi-pool architecture (permissioned + permissionless operators), part of Stader's multi-chain staking stack.
Multi-chain liquid staking infrastructure.
Total staked
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Research
Components, facts, FAQ, timeline, and tokenomics in one place
Main components (4)
ETHx
Stader's Ethereum liquid staking token (ERC-20). Users stake ETH and receive ETHx, which accrues staking rewards while remaining usable across DeFi. Built on a multi-pool architecture combining permissionless and permissioned validator pools.
Multi-pool architecture
ETHx routes stake across a permissionless pool (any operator can run a node with reduced collateral) and a permissioned pool (curated operators with proven performance, no collateral). Designed to reduce staking concentration risk, with planned DVT-based pools in a later phase.
Multi-chain LSTs
Beyond Ethereum, Stader issues liquid staking tokens across multiple PoS chains, including MaticX (Polygon), BNBx (BNB Chain) and HBARx (Hedera), positioning Stader as a multi-chain liquid staking provider.
SD token
Stader's governance and utility token. Permissionless ETHx node operators must bond SD (~0.4 ETH worth) alongside 4 ETH of collateral, tying node-operator incentives to the token.
Differentiator
Multi-chain staking platform with a dual operator-pool design that lowers the bond to run a node.
Organizational structure
Units & roles
- CEO & Co-founder
Amitej Gajjala
Co-founder and CEO of Stader Labs; also associated with founding Kelp DAO.
- CTO & Co-founder
Sidhartha Doddipalli
Co-founder and CTO of Stader Labs, leading its technical and smart-contract development.
Investment rounds
| Date | Round | Amount | Investors | Link |
|---|---|---|---|---|
| 2021-10-07 | Seed | $4M | Pantera CapitalCoinbase VenturesTrue VenturesJump CapitalHuobi VenturesTerraForm LabsSolana FoundationNear Foundation | Source |
Similarity to traditional finance products
How Stader Labs maps onto established TradFi structures, and where it diverges.
| TradFi product | Similarity to Stader Labs | Key differences |
|---|---|---|
| Money-market / cash management fund | ETHx pools user deposits into a yield-bearing, redeemable instrument whose value accrues over time, similar to how a money-market fund pools cash into short-term yield. | ETHx yield comes from Ethereum protocol staking rewards rather than interest-bearing securities; it is non-custodial, on-chain, transferable in DeFi, and exposed to slashing and smart-contract risk rather than credit and rate risk of a regulated fund. |