Coinbase Adds New Liquid Staking Altcoin For Trading

U.S. crypto exchange Coinbase will add trading opportunities for Stader (SD), a multichain liquid staking platform now available on Coinbase.com and the iOS and Android apps.

Last month, Coinbase put SD on its listing “roadmap,” which often leads to significant upside for select cryptocurrencies.

Stader (SD) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.

— Coinbase Assets 🛡️ (@CoinbaseAssets) July 30, 2024

Stader originally provided liquified steaming services on the Terra blockchain, but expanded to other chains after the project crashed in 2022.

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Recently, the Stader community voted to reduce SD supply from 150 million to 120 million as part of a “tokenomics reboot.”

In addition, the project voted to expand the utility of the token by using SD’s utility pool to provide insurance for operators of authorized nodes, limiting their penalties for so-called “slashing” to four Etherium (ETH) tokens, with the pool covering any excess.

Slashing is part of the consensus mechanism’s proof-of-stake method for punishing validators with bad intentions.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.