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Stader's New Ethereum LST, ETHx | Quick Hit
Description
Amit Gajjala is the CoFounder of Stader Labs.
In this Quick Hit, we review ETHx, Stader's new Ethereum LST just in time for its official launch today. Since 2021, Stader has developed 6 liquid staking solutions for Proof of Stake networks, including Polygon, BSC, Hedera, Fantom, and Near and once held just under $1B in staked LUNA prior to the collapse of UST. As a multichain liquid staking protocol, Stader spent the crypto bear market developing their flagship Ethereum LST--ETHx.
Given our previous coverage of Ethereum liquid staking such as Rocket Pool, we discuss and dissect why Stader opted for a hybrid design with both permissionless and permissioned node operators and why they believe it's the best model for scalable decentralized liquid staking. We also break down what we need to know as ETH LST holders who might hold ETHx vs potential node operators who can bond as little as 4 ETH (plus 0.4 ETH of SD tokens) to run an ETHx validator.
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Topics Covered
00:00 - Intro
05:06 - Amit's background
08:50 - Lessons from UST collapse
12:09 - How ETHx differs
16:58 - How to acquire ETHx, yield, fees
20:08 - Checklist for ETHx node operators
21:19 - Estimated yield for ETHx validators
23:05 - How SD token bond works
25:20 - Onboarding node operators
28:11 - DeFi integrations for ETHx
29:18 - Possibility for SD fee accrual
30:28 - Audits for ETHx
32:14 - ETHx Power Pledge
34:20 - Impact of EigenLayer on ETHx
35:14 - Closing
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Guest Links
Amit Gajjala on Twitter
https://twitter.com/GAmitej
Learn about Stader's ETHx LST
https://www.staderlabs.com/eth/
Follow Stader Ethereum on Twitter
https://twitter.com/staderlabs_eth
Learn about Stader Labs
https://s