Bittime - Stader is an increasingly well-known multi-chain liquidity staking platform that has just announced ambitious plans to revolutionize its token economy. Stader will use four key levers to address various aspects of the SD token economy which is currently facing the dilemma of low circulation and high FDV (Fully Diluted Valuation)
What is Stader?
Stader is a multi-chain liquidity staking platform that provides staking services for various cryptocurrencies. With the main aim of making it easier for users to stake, Stader allows cryptocurrency holders to secure their blockchain network and earn rewards for their contributions.
The Stader platform offers a variety of innovative features designed to increase efficiency and convenience in the staking process.
How Does Stader Work?
Stader works by integrating various blockchains and providing a decentralized staking solution. Users can deposit their crypto assets into the Stader platform and select the desired validator for staking .
These validators will then secure the network and process transactions, while users earn rewards in the form of staked tokens.
Stader also utilizes a liquidity mechanism to allow users to access their funds without having to wait for long unstaking periods. This way, users can be more flexible in managing their assets while still getting the benefits of staking.
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Reducing Token Supply Through Burning
One of the significant steps in this plan is the burning of 20% of the total token supply. With this, the total supply of SD tokens will be reduced from 150 million to 120 million.
Source: https://x.com/staderlabs/
This destruction plan has received approval from more than 99% of the DAO (Decentralized Autonomous Organization) and is scheduled for execution on Tuesday (25/06/24).
Token burning is a common step taken to reduce the number of tokens circulating on the market, which is expected to increase the value of the remaining tokens.
Stader Will Buyback SD Coins Every Quarter
Source: https://x.com/staderlabs/
To support the continued development of the SD coin, Stader also plans to conduct quarterly token buybacks. As much as 20% of the company's revenue will be allocated for buying back SD tokens.
Stader's move aims to create constant buying pressure in the market, which is expected to help maintain stability and increase the token's value over time.
Prize Distribution Adjustments
In an effort to ensure TVL (Total Value Locked) growth is faster than the increase in prize size, Stader will adjust the prize distribution. This adjustment is intended so that the growth of the staking ecosystem is not only driven by short-term incentives, but also by more sustainable organic growth.
In doing so, it is hoped to attract more users to participate in the Stader staking platform, which in turn will increase TVL.
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Increasing Stader Token Utility Through Insurance
Additionally, Stader also plans to utilize SD tokens in providing insurance coverage. Specific proposals regarding this will be shared with the community in the near future. This increase in token utility through insurance is expected to provide added value for SD token holders and expand the use of the token beyond just a staking tool.
Conclusion
With these strategic steps planned, Stader is on the right track to strengthen their position as a major player in the staking industry. A healthier and more sustainable staking ecosystem will not only attract more users, but will also increase investor confidence in the future of SD tokens.
In the coming months, all eyes will be on how Stader implements this plan and how it impacts the market. If successful, this tokenomics reboot could serve as an example for other staking platforms in managing their token economics.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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