[Farm] Stader Labs - Near<>NearX

Project Description

Stader is a multi-chain liquid staking contract infrastructure platform. Having first launched on Terra 1.0, Stader’s liquid staking solution is now present across Near, BNB, Hedera, Polygon, Fantom,& Terra 2.0. Having reached a TVL of $1Bn+ with 35000+ wallets staking with it at its peak, Stader is one of few Terra originated protocols that is truly multi chain with $100M+ strong TVL even post the Terra 1.0 crash.

Stader’s upgraded liquid staking solution- NearX, launched on the NEAR Protocol on 16-09-2022. The upgraded NearX smart contract has been audited by 3 leading auditors (Halborn, Blocksec, Osec). With NearX, users will get the opportunity to earn supercharged APY through NearX integrations and incentives across major DeFi protocols in the NEAR and Aurora ecosystems.

Project plan / development

Stader will unlock a lot of opportunities for delegators with NearX:

  1. Best in class APY based on data-driven validator selection, monitoring and constant rebalancing of validator pool
  2. Yield Farming opportunities through defi integration across all major protocols such as Dexes, Lending/Borrowing protocols, Yield Optimizers on Near & Aurora. Users will get the chance to earn SD, Stader’s native token that is listed on multiple exchanges, by participating across Stader’s partner DeFi protocols
  3. Ability to participate in launchpads through NearX
  4. Leverage NearX to get access to unique NFTs with powerful use cases.

Achievements so far:

Stader Milestones on erstwhile NearX

  1. Reached $14m in staking TVL with 500+ wallets in 6 days of launch.
  2. Reached $1.5m TVL on Near<> NearX on REF in just 15 hours of launch.
  3. We crossed $3m in TVL on Near<> NearX on REF in 6 days.
  4. Liquidity utilization on REF LP reached ~ 3.5% in the launch week.
  5. Near<>NearX pool became the biggest pool on Jumbo in under 24 hours.
  6. 15K + strong community across Twitter, Telegram & Discord.

Farming goals

The erstwhile Near<>NearX LP on REF was launched with the below incentives

Pair : NearX<>wNear

Type : Dual Rewards

SD : 9545.45/ week

REF : 4200 / week

For upgraded NearX<>Near pair, we propose REF to maintain its incentives & Stader will increase its SD incentives to 12600/week. The new proposed incentive structure is as below:

Pair : NearX<>wNear

Type : Dual Rewards

SD : 12600/ week

REF : 4200 / week

Length : 31 days

Estimated Starting Date: 4th week of Sept’22

Targeted TVL : $2M+

Targeted APR at 2 M USD LP size : 15.44%+

*Incentives can be revisited once the $2m target TVL is achieved.

DAO Proposal #277