Crypto exchange Coinbase has added trading support for Stader (SD), a noncustodial, multi-chain liquid staking platform.
In an announcement, Coinbase says that SD is now available on Coinbase.com and the Coinbase iOS and Android apps.
Coinbase placed SD on its listing “roadmap” last month, which signals the possibility of future listings for digital assets – triggering significant rallies for the token.
Stader originally aimed to provide liquid staking solutions on the Terra blockchain but expanded to other chains following the 2022 collapse of the Terra ecosystem.
Recently, the Stader community voted to reduce the supply of SD from 150 million to 120 million in a new “tokenomics reboot.”
The project is also currently holding a vote on expanding the token’s utility by “leveraging the SD Utility Pool to provide insurance cover for permissioned node operators, ensuring they only have to cover up to four Ethereum (ETH) in slashing penalties, with the excess covered by the pool.”
In 2023, Stader Labs, the development team behind the project, raised $4 Million in seed funding from Pantera Capital and other large investors.
At time of writing, SD is trading at $0.48, 98.4% down from its all-time high of $30.17 which it hit in March 2022, according to CoinGecko.
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