Stader Labs, a leading liquid staking provider, announced a significant reduction in the supply of its native token, $SD. On June 25, 2024, Stader Labs burned 30 million $SD tokens, reducing the total supply from 150 million to 120 million. This burn, valued at $18 million, represents 20% of the total supply and is part of Stader's broader Tokenomics Reboot plan. The move is expected to enhance the utility and value of $SD, which is already a prominent player in the liquid staking sector with a total value locked (TVL) of over $700 million. Stader Labs is the largest liquid staking token provider on Polygon and Hedera, with over 85,000 stakers.
Stader Labs made waves, achieving $700+ million TVL Now it's the largest LST on Polygon & Hedera, with 85k+ stakers. On June 25, theyβll burn 20% of $SD supply, reducing it from 150 million to 120 million. Discover the potential impact π§΅π https://t.co/pqghZCrqcD
π¨ Bullish news for $SD tokenomics 20% of total supply worths $18M were burnt today First target in Stader Tokeomics plan is complete... it's just getting started π https://t.co/LJrWpLv56O
π₯ 30Mn $SD tokens have been burnt. π₯ The optimized future is here! The total supply has now been reduced from 150Mn to 120Mn $SD tokens. $SD is just getting started. Stay tuned for more on the Tokenomics Reboot. https://t.co/s0fJ5v2evH
π Lido Analytics: June 17 - 24, 2024 TLDR: - Lido TVL fell -4.60% to $33.03b. - 81,440 net new ETH was staked through Lido. - The 7d stETH APR was 3.00%. - wstETH on L2 fell -0.97% to 132,089 wstETH. - The (w)stETH 7d trading volume was $1.33b. https://t.co/1l6Bc93h3s
Great opportunity for those who looking to buy altcoins this summer. @staderlabs, one of the top LSD providers with $600M in TVL, planning to burn 20% of total $SD supply [their native token]. It's the best representative of the liquid staking sector with actual utility. https://t.co/Zz1rnbTKQ4