ETHx: Stader’s New Ethereum LST

Amit Gajjala is the CoFounder of Stader Labs.

In this Quick Hit, we review ETHx, Stader’s new Ethereum LST just in time for its official launch today. Since 2021, Stader has developed 6 liquid staking solutions for Proof of Stake networks, including Polygon, BSC, Hedera, Fantom, and Near and once held just under $1B in staked LUNA prior to the collapse of UST. As a multichain liquid staking protocol, Stader spent the crypto bear market developing their flagship Ethereum LST–ETHx.

Given our previous coverage of Ethereum liquid staking such as Rocket Pool, we discuss and dissect why Stader opted for a hybrid design with both permissionless and permissioned node operators and why they believe it’s the best model for scalable decentralized liquid staking. We also break down what we need to know as ETH LST holders who might hold ETHx vs potential node operators who can bond as little as 4 ETH (plus 0.4 ETH of SD tokens) to run an ETHx validator.

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THIS IS NOT A RECOMMENDATION OR ENDORSEMENT TO BUY ANY TOKEN(S) RELATED TO ANY PLATFORM(S) DISCUSSED.

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The Edge Podcast Sponsor Resources

🏗️ MANTLE | HIGH-PERFORMANCE ETHEREUM L2 WITH MODULAR DESIGN, LOW FEES, AND HIGH SECURITY
https://linktr.ee/mantle.xyz

⚖️ KYBERSWAP | DECENTRALIZED EXCHANGE AGGREGATOR AND AMM
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⛩️ UTOPIA | PAYROLL AND EXPENSE MANAGEMENT FOR DAOS
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🚀 LIQUITY | UNSTOPPABLE ETH-BACKED STABLECOINS AND LEVERAGE
https://www.liquity.org/

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Topics Covered

00:00 – Intro
05:06 – Amit’s background
08:50 – Lessons from UST collapse
12:09 – How ETHx differs
16:58 – How to acquire ETHx, yield, fees
20:08 – Checklist for ETHx node operators
21:19 – Estimated yield for ETHx validators
23:05 – How SD token bond works
25:20 – Onboarding node operators
28:11 – DeFi integrations for ETHx
29:18 – Possibility for SD fee accrual
30:28 – Audits for ETHx
32:14 – ETHx Power Pledge
34:20 – Impact of EigenLayer on ETHx
35:14 – Closing

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Guest Links

Amit Gajjala on Twitter
https://twitter.com/GAmitej

Learn about Stader’s ETHx LST
https://www.staderlabs.com/eth/

Follow Stader Ethereum on Twitter
https://twitter.com/staderlabs_eth

Learn about Stader Labs
https://staderlabs.com/

Follow Stader Labs on Twitter
https://twitter.com/staderlabs

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🙏 The Edge Podcast is produced by 4RC Labs. If you’re a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/

All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. 4RC invested in the Series A for Stader and DeFi Dad holds the SD token. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research.

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