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.

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.