SYDNEY, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Stader Labs, a cryptocurrency staking infra platform, today announced its upcoming expansion to Fantom, bringing its liquid staking pools and next-gen staking infrastructure. Upon completion of the implementation next month, Fantom users will have the ability to leverage Stader’s user-friendly staking solution, which will further secure and strengthen the Fantom network with greater stake decentralization. Stader currently has its staking solutions deployed on Terra with ~6 million Luna staked by 25,000 unique wallets.
Over the past year, staking has grown into one of the most popular practices among cryptocurrency users for its ability to generate passive income despite unpredictable market conditions. According to the recent Staked Stake of Staking report, the market cap for Proof-of-Stake protocols accounts for 54% of the total crypto market cap – boasting 100% quarterly growth. With the projected growth of staking rewards expected to reach nearly $18 billion, Fantom anticipates delivering a simplified staking solution to holders through Stader’s best-in-class infrastructure.
“Stader is among the most exciting platforms in the space, as it offers an incredibly simple avenue for crypto enthusiasts to put their assets to work,” commented Fantom CEO, Michael Kong. “We believe that Stader will continue to generate value for users, and we could not be more excited to bring its capabilities to FTM holders.”
Once fully integrated, the Fantom community will be able to take advantage of:
- Liquid staking. Users will be able to mint liquid tokens on staked FTM and leverage it on DeFi protocols on Fantom and across broader PoS ecosystems for additional DeFi strategies.
- Stake pools. Users will be able to easily earn staking rewards, with single-click staking to multiple validators at the same time.
The Fantom network will also benefit from Stader’s approach, which will increase network decentralization by spreading stake among more validators. For users facing complexity in managing their delegations and discovering new validators, the staking solution will greatly simplify this process.
Amit Gajjala, co-founder of Stader Labs, highlights its staking solutions and flexible architecture as a key benefit across the Fantom ecosystem.
“We’re looking forward to bringing the most convenient, safe way to access liquid staking and stake pools to the Fantom community” added Gajjala. “Delegators will be able to conveniently obtain and leverage liquid tokens on staked FTM across the wider Fantom ecosystem to maximize staking returns. Another benefit is our modular approach to building smart contracts, which will further enable the thriving Fantom developer ecosystem, so third parties can leverage our components to integrate staking solutions.”
At present, roughly 1.38 billion Fantom tokens (FTM) are staked on the network, representing 52% of the total circulating supply. The Stader solution will unlock this vast reserve of capital for stakers, without obliging them to sell. That liquidity creates new opportunities for expanding DeFi strategies.
Up until now, to secure passive income on Fantom, users have had to choose between staking or seeking out earnings opportunities in Fantom DeFi. But by collateralizing their holdings through liquid staking, users can draw upon the value of FTM to simultaneously do both. Staking secures the network and guarantees steady network rewards. Fantom DeFi, an extremely popular application area with $8.59B TVL, offers many further earnings opportunities through borrowing and lending, NFT trading and staking, liquidity provisioning, and more.
Fantom’s integration with Stader comes shortly after its listing on Nexo and integration with Shopping.io, to deliver access to the Fantom ecosystem to new user bases. Stader’s expansion to Fantom follows its early traction on Terra, where it has become one of the most-staked projects by TVL.
To get notified when the Fantom liquid staking pool is live, please visit: staderlabs.com/fantom or follow on Twitter.
To learn more about Fantom, visit fantom.foundation or follow along on Twitter.
About Fantom
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases. Learn more by visiting the Fantom Foundation website or Twitter.
About Stader Labs
Stader is a non-custodial, smart contract-based staking platform that helps retail and institutions conveniently discover and access staking solutions. In addition to its own platform, Stader’s modular smart contracts and staking middleware infrastructure for Proof-of-Stake (PoS) networks can be leveraged for retail crypto users, exchanges, custodians, and mainstream FinTech players. Stader recently raised $12.5m in a strategic presale. View the whitepaper and access the dApp here.
