Stader-BNBx

Staking

Stader is a non-custodial, multichain staking platform. BNBx is Stader's liquid staking solution for BNB on the BNB Chain.

Risk Rating
Good
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Stader abstracts away the challenges and risks around maintaining staking infrastructure by allowing users to delegate their BNB to professional node operators.
What we like less
Staking with Stader assumes greater security risks as the underlying smart contracts may be exploited. The treasury for Polygon BNBX is also controlled by a limited 2/3 multisig.
What it means for you
Stader's liquid staking protocol offers you a great way to stake your BNB and earn rewards for securing the BNB Chain while remaining liquid with BNBX.
Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $600.9M (Rank #36)
  • TVL Ranking by Staking: #0
  • Blockchain: Ethereum, Hedera, Binance, Near, Terra2, Fantom
  • Chain TVL
    • Ethereum: $539.12M
    • Hedera: $43.6M
    • Binance: $17.14M
    • Near: $693.63K
    • Terra2: $295.73K
    • Others: $0
Risk Assessment
Good
Protocol Code Quality
  • Code reviewed by several experienced auditors including Halborn and PeckShield
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2022; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 20% by total value locked slightly reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
  • Timelock is less than 48hrs, which provides users with less time to exit if any malicious upgrades are approved
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
Things to know about Stader-BNBx

How Stader (BNBx) works

Stader allows users to earn staking rewards without locking assets or maintaining staking infrastructure. Users deposit their BNB into Stader's smart contracts and receive BNBX in return which represents the value of the user's staked BNB along with any staking rewards accrued or penalties inflicted on validators. Users can withdraw or redeem their BNBX back for their original BNB at any time.

How Stader (BNBx) makes money

Stader generates revenue by charging a 10% fee on the staking rewards earned by depositors. This fee is used for upgrading the protocol's staking infrastructure to improve the quality of products for users.

How you make money on Stader (BNBx)

Passive BNB holders can generate additional yield by participating in the PoS validation mechanism to earn block rewards. The unlocked liquidity with BNBX can also be used on a number of popular DeFi protocols to generate additional yield.