Stadar HBAR Staking

HBAR Staking coming in April through Stader Labs

CryptocurrencyNews
··2 mins read

Investors in Hedera will finally be able to stake their HBAR tokens thanks to Stader Labs.

Yesterday, Stader announced that the “first staking solution designed to enable the use of HBAR for network security on Hedera” will become available within a couple of weeks. The liquid token will be called HBARX.

Stader aims to decentralize proof-of-stake networks by allowing delegators to safely stake their tokens on its “cross-chain, cross-product” platform.

Stader’s offering is relatively new – it initially launched on the Terra network in November 2021. However, within just 10 weeks of its debut, Stader reached over $180 million in TVL (total value locked). As well as this, it received funding from some of the biggest crypto funds in its strategic investment round, including Pantera, Coinbase Ventures, and Blockchain.com.

According to their lite paper:

The founding team of Stader have been in the crypto world for many years and have deep experience in staking and building mining optimizers. We have seen first-hand how difficult and effort-intensive it is to choose a mining pool and we see the same happening in staking. We aspire to make staking effortless while unleashing several innovations on staking. While we embark on the journey of building cross-chain staking lego blocks, it is critical for us to first demonstrate the success of the platform.

How HBAR staking will work

In summary, users will be able to stake their HBAR through Stadar’s dApp.

Every time HBAR is staked, HBARX tokens will be minted.

When HBAR tokens are unstaked, HBARX will be burned.

Additionally, each time HBAR tokens are added to the staking pool, the HBAR:HBARX exchange rate will increase. Stader published the following formula regarding the exchange rate:

HBAR staking on stadar rewards
From https://blog.staderlabs.com/

V1 of HBAR staking on Stader is due to begin during the first week of April 2022. According to their blog, only the staking option will be available at first, meaning staked HBAR will be locked and users cannot un-stake or withdraw until v2 of the contract is released in July 2022.

Security

Stader confirmed that their contract code is currently undergoing a third-party audit and it will be fully audited by the go-live date.

Anyone interested in staking their HBAR with Stader can express their interest here.

Hedera had planned to introduce proxy staking last year, however, this was delayed and is now due to be available later in 2022.

hedera-hashgraph
hedera-hashgraph

Hedera (HBAR)

Price
$ 0.110599
  • bitcoinBitcoin (BTC) $ 66,353.00 3.4%
  • ethereumEthereum (ETH) $ 2,985.52 1.21%
  • tetherTether (USDT) $ 1.00 0.03%
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  • cardanoCardano (ADA) $ 0.454912 2.74%
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  • daiDai (DAI) $ 1.00 0.06%
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  • pepePepe (PEPE) $ 0.000010 7.39%
  • ethereum-classicEthereum Classic (ETC) $ 27.28 3.51%
  • hedera-hashgraphHedera (HBAR) $ 0.110599 1.68%
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  • mantleMantle (MNT) $ 0.981447 1.35%
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  • blockstackStacks (STX) $ 2.05 2.66%
  • okbOKB (OKB) $ 49.52 0.87%
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,935.67 0.86%
  • arweaveArweave (AR) $ 44.71 3.26%
  • dogwifcoindogwifhat (WIF) $ 2.89 3.68%
  • the-graphThe Graph (GRT) $ 0.302314 4.25%
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  • bittensorBittensor (TAO) $ 391.78 3.86%
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