Impact Of Stader On Near And Suggestions for Stader .

💥 Impact 💥

💥 At one point Stader’s TVL was nearly 1B$ ( 6 April 2022 ) and NEAR’s Total TVL was only 183M$ at that time, So Stader has an big TVL potential, would bring liquidity + new users to Near.

💥 Staders Liquid staking allows staked assets to be used in Defi or being traded, this offers a growing potential for NEAR Defi protocols.

💥 6.27M$ worth of NEAR is staked on Stader.

💥 Everyday a minimum of 20 users , use Stader to stake their NEAR.

💥💥 Stader offers a new solution to staking of NEAR, its impact comes from the its name + solution it offers, currently nearly all big chains have a popular liquid staking protocol like Solana have Marinade Finance and Ethereum have Lido and NEAR can have Stader.

💡 Suggestions 💡

⚖️First thing Stader should is the gaining the trust of users again to do that :

⚖️Audits and bug bounties can be a life saver and should be updated all the time, working with big audit firms is a plus, this audits will prevent the hacks to be happen again and users will start to trust Stader again.

⚖️ Being clear about the incidents and informing the users about it, without hiding anything.

⚖️ Having an active Discord or a social channel is an always a plus, with a Discord channel users from different chains can discuss and can learn new things about the other chains.

⚖️ Having different options for NearX and adoptation of it in Defi, liquid staking is mostly about use of staked asset , if it doesn’t have the enough variety use of it can be meaningless. So working with Defi protocols on Near and other protocols, would make Stader and NearX more charming to new users or the old users.

Methodology

♦ We defined impacts as the solution Stader offers, impact of Stader on Near is, ==Liquid Staking Solution**.**

• New Stader: New Stader contract after the hack and relaunch at September 16

• Old Stader : Stader contract that exploit happened and not being used anymore

• Near stakes: NEAR Stake Txs on Stader

Soruce :

OLD STADER VS NEW STADER

Findings

♦ New Stader have 22% less users than Old Stader.

♦ This shows us not all users hugged the New Stader even if they used it before the hack.

Findings

♦ 1M NEAR is staked on New Stader, while in Old Stader that amount was 2.69M

Old Stader had 169% more NEAR Staked than New Stader

♦ With looking at the user numbers, users of New Stader are putting their Near slowly.

What’s Stader And WHY Its Important For NEAR

Stader is an smart contract based staking contract , where people can stake their coins with options like liquid staking. Stader offers the liquid staking solution for many chains and one of them is NEAR but because of the event in the time of  (Aug. 16 2022), around 9:30 AM EST , a exploit happened and attacker gained an nearly 165k NEAR, and Stader was forced to give a break which breaks the trust that Stader on NEAR Chain

==BUT==

Why Stader Is Important For NEAR And Liquid Staking

👉 Liquid staking is currently booming, currently on all chains, liquid staking TVL reaches 8.27B$ ( Source: DefiLlama )

Stader is in the rank 7 by TVL with 152M$ among the other Liquid Staking platforms like Lido, Ankr.

👉 Staking your NEAR and waiting for normal rewards can be both boring and less rewarding compared to liquid staking, liquid staking have a potential to grow the Defi protcols on NEAR, with the trade of staked NEAR, or giving different options to use of Staked NEAR. Stader can solve the liquid staking problem of NEAR and can flourish the defi ecoystem of NEAR.

👉 Stader is already offering solutions to many chains like Fantom, BSC, Ethereum and have an experience in the field.

👉 Stader can be the second Sweat.

👉 Trust can be regained, they already put a big bounty program which rewards up to 1M$ in Immunefi and audited by many big platforms like Halborn, Blocksec.

Findings

♦ Amount of NEAR Staked on Stader is not in the its old levels.

♦ While in Old Stader In Aug 15 1.54M Near was staked in one day, while on the New Stader max amount is 273k.

Findings

♦ Stake TXs are mostly same in New Stader compared to Old Stader, looking at the data above we can say that users are interacting with Stader but they are not putting much Near into it.

Findings

🌊 Old Stader had 169% more Near staked than New Stader

🌊 Old Stader reached 2.69M NEAR Level in 18 days while New Stader reached 965k NEAR in 20 days.

Findings

🌊 Number of stake TXs are close to each other , this shows us users are putting less Near , while using it in the same frequency

Findings

🌊 With 5.76B USD Lido leads the way in liquid staking.

🌊 In the second place we have RocketPool with 229M USD.

🌊 Stader is in the third place with 4M USD locked.

This amounts are showing the power of liquid staking, currently Lido has 5.76B$ bigger TVL than NEAR Chain itself ( Source: DefiLlama 270M$ ).

With the growth of NEAR Liquid staking, its TVL could reach this levels.

Stader NEAR vs Ethereum Liquid Staking Protocols.

Daily NEAR Stake Volume + Stakes

Cumulative NEAR Stakes + NEAR Stake Volume