$BNB has been one of the strongest performers of this bear market🚀. "Only" down 59% compared to:
BTC -73%
ETH -72%
Now what if I told you it's possible to earn 20% staking BNB?
Let's dive into how this is possible through liquid staking & no IL LP's on @staderlabs 🧵 1/9
BTC -73%
ETH -72%
Now what if I told you it's possible to earn 20% staking BNB?
Let's dive into how this is possible through liquid staking & no IL LP's on @staderlabs 🧵 1/9
2/ Stader Labs is a multi chain liquid staking protocol on BSC, Polygon, Fantom, Near & more.
On @stader_bnb you can deposit your $BNB and receive $BNBx in return.
On @stader_bnb you can deposit your $BNB and receive $BNBx in return.
3/ BNBx is the token that represents the liquid staked BNB.
The APY currently by staking BNB here is > 14%. You don't need to claim these rewards anywhere as the yield is accrued through price appreciation of BNBx relative to BNB.
The APY currently by staking BNB here is > 14%. You don't need to claim these rewards anywhere as the yield is accrued through price appreciation of BNBx relative to BNB.
4/ Let's say that for a year the average staking APY is 14%. After a year the BNBx token will be 14% higher in price than BNB.
So when unstaking (swapping BNBx to BNB) your BNB bag will have grown. The 14% APY comes from:
4.5% base staking yield
10% Rewards APY from Stader
So when unstaking (swapping BNBx to BNB) your BNB bag will have grown. The 14% APY comes from:
4.5% base staking yield
10% Rewards APY from Stader
5/ How does the price of BNBx work specifically?
BNBx exchange rate = (Total BNB in stake pool)/(BNBx in circulation).
Staking rewards are added to the BNB stake pool over time -> BNBx appreciates relative to BNB.
BNBx exchange rate = (Total BNB in stake pool)/(BNBx in circulation).
Staking rewards are added to the BNB stake pool over time -> BNBx appreciates relative to BNB.
6/ With BNBx you're able to use this in defi which can also be accessed on @staderlabs. These include:
BNB/BNBx 11% APR on Apeswap
7% on Elipsis
10% on Wombat
These are nearly without impermanent loss and can be auto compounded on @beefyfinance for ~13% APY.
BNB/BNBx 11% APR on Apeswap
7% on Elipsis
10% on Wombat
These are nearly without impermanent loss and can be auto compounded on @beefyfinance for ~13% APY.
7/ By combining the liquid staking strategy with a farm like Beefy you're able to generate roughly 20% APY on BNB staking.
This allows you earn actual real yield by offsetting the yearly inflation of BNB token.
This allows you earn actual real yield by offsetting the yearly inflation of BNB token.
8/ What about safety?
@staderlabs is audited by Halborn & Peckshield and has an overall TVL of ~$100m ($13.5m on BNB staking).
With liquid staking additional smart contract risk is present as more protocols are utilized.
@staderlabs is audited by Halborn & Peckshield and has an overall TVL of ~$100m ($13.5m on BNB staking).
With liquid staking additional smart contract risk is present as more protocols are utilized.
9/ If you want to check out @stader_bnb you can access the protocol here:
bit.ly
If you liked the thread I'd very much appreciate a like and rt of the first post:)
bit.ly
If you liked the thread I'd very much appreciate a like and rt of the first post:)
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