Stader Labs

Founded by Sidhartha Doddipalli and Amitej Gajjala in 2021, Stader Labs is building decentralized financial protocols and applications for stake management on public blockchain networks.

The company began its journey by creating staking products on Terra and aims to cover five to six PoS blockchains by mid-2022— including Near, Polkadot, Ethereum, and Polygin—and integrate third-party liquid tokens and build automated yield-maximization strategies.

The company plans to build APIs to provide end-to-end staking solutions for exchanges and mainstream fintech apps, tapping into the financial demand for high-quality staking products among retail crypto investors. Stader token (SD) will power main services on the Stader platform, with four main utilities:

• Listed validators to stake SD tokens to get proportional delegations
• Insurance against slashing
• Third parties looking to build strategies/ games on top of staked assets
• Governance

The cryptocurrency staking management platform raised $4 million in a seed round, led by Pantera Capital. Coinbase Ventures, True Ventures, Jump Capital, and Ledgerprime also participated in the round. Some angel investors also participated, including Jaynti Kanani (CEO, Polygon), Sandeep Nailwal (COO, Polygon), Nemil Dalal (Head of Crypto, Coinbase), Sumit Gupta (CEO, CoinDCX), Ahmed Al Balaghi (CEO, Biconomy), Aniket Jindal (COO, Biconomy), and Harsh Rajat (CEO, EPNS).

In a statement from Amitej Gajjala, he said

“Through Stader, we hope to empower crypto-asset staking throughout the financial sector, making it easy and intuitive for investors to stake assets and generate returns.”