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What can you do with Stader (SD) coins?
Staking SD tokens offers passive income opportunities, while governance participation grants token holders voting power on the Stader network's future.
Dec 31, 2024 at 10:30 am
What can you do with Stader (SD) coins?
- Stake SD tokens to earn rewards
- Participate in governance votes
- Pay for Stader services
Stake SD tokens to earn rewards
Staking SD tokens is a great way to earn passive income. When you stake your SD tokens, you are essentially lending them to the Stader network. This helps to secure the network and process transactions. In return, you earn staking rewards.
The amount of staking rewards you earn depends on the following factors:
- The number of SD tokens you stake
- The length of time you stake your tokens
- The staking rewards rate
The staking rewards rate is set by the Stader team. It is currently set at 10% per year.
Participate in governance votes
As a Stader token holder, you have the right to participate in governance votes. This gives you a say in the future development of the Stader network.
To participate in governance votes, you must hold at least 10,000 SD tokens. You can vote on proposals submitted by the Stader team or other community members.
Pay for Stader services
SD tokens can also be used to pay for Stader services. This includes staking services, delegation services, and voting services.
The cost of Stader services is set by the Stader team. It is currently set at 1 SD token per transaction.
FAQs
What is Stader?
Stader is a liquid staking protocol that allows users to earn staking rewards without locking up their assets. Stader is built on the Cosmos SDK and is compatible with a variety of proof-of-stake blockchains.
What is the SD token?
The SD token is the native token of the Stader protocol. It is used for staking, governance, and paying for Stader services.
How do I buy SD tokens?
SD tokens can be purchased on a variety of cryptocurrency exchanges, including Binance, KuCoin, and Gate.io.
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