Thread by @crypto_klay

1/ $FTM Fam, @stader_ftm launches April 18th & their AMA tour has been full blast 🚀

Here, I'll summarize the key points from their @beethoven_x & @Spirit_Swap AMAs 🧵

- Background
- Why $FTM & what they solve
- Products & services
- Liquidity & Partners
- $SD token & more!

2/ Their origin launch was on $LUNA as @staderlabs:

They've an impressive 722MM TVL there!

Core function:

Stader is a Staking Middle-Wear infrastructure provider. They help secure & operationalize Proof-of-Stake networks. They aim to bring the next 1BB+ users to staking...

3/ So, why build on $FTM next?

A. $FTM utilizes a DAG Proof-of-Stake (the alignment)
B. $FTM has a thriving DeFi ecosystem (the plus)
C. $FTM has super strong community (the users & devs)
D. $FTM is unique tech that makes transactions super fast & cheap (the differentiator)

4/ What is Proof-of-Stake?

It is the process of securing the network via locking up $FTM tokens. If no one stakes, we do not have a network!

Validator nodes validate transactions & the staked tokens act as an economic incentive for stakers to play by the rules of the protocol.

5/ Validators are anonymous to make the network decentralized & resilient to attacks from the outside.

Fantom requires validator nodes to lock-up at least 500,000 $FTM (Fantom's native token) to prevent sybil attacks.

6/ So, what's the opportunity cost of staking?

There is a lock-up period, 365 days max. Stakers can earn from 4.5% all the way up to 13.5% depending on your locking timeframe

But, now your $FTM tokens are locked, & thus, illiquid from other use cases like liquidity farming...

7/ So, what is @stader_ftm solving?

Via Liquid Staking, Stader aims to unleash the majority of staked assets, currently locked in staking.

Additionally, create convenient staking infrastructure to decentralize #Fantom & help the community stake / manage $FTM easily.

8/ @stader_ftm also enables the concept of 'Conscious Decentralization':

When you stake with Stader, your assets are automatically distributed across a CAREFULLY CHOSEN set of validators.

This furthers #Fantom decentralization while minimizing slashing risks to stakers...

9/ At the time of writing this, the #Fantom network has 1,397,107,712 $FTM locked.

This is equivalent to about 52% of all circulating supply.

At current $FTM price, that's $1.62BB in locked liquidity Stader could unleash to the #Fantom DeFi eco with Liquid Staking enablement!

10/ Liquid Staking solves the dilemma of choosing between securing the network OR participating in DeFi

Users will have the ability to stake their $FTM through Stader’s dApp & mint a new liquid token, $sFTMx

With $sFTMx, you earn staking rewards & can also participate in DeFi

11/ $sFTMx & $FTM are pegged 1:1

The $sFTMx is a 'cToken' (think $cLQDR tokenomics)

$sFTMx increases in value relative to $FTM as staking rewards accrue. Every time staking rewards are added to the pool the $sFTMX to $FTM exchange rate will increase...

12/ Further, $sFTMx cToken design allows for easy integration with all types of DeFi protocols

Stader can partner w/ everyone:

DEXs - @beethoven_x, @Spirit_Swap, @SpookySwap
Lending/Borrowing - @Screamdotsh, @RevenantLabs
Compounders - @LiquidDriver, @Reaper_Farm

& more!

13/ So, where will we find the initial $sFTMx liquidity?

@stader_ftm will have liquidity pools on all 3 major $FTM DEXs, I've listed them above 👆

Initial pool pairs: $sFTMx / $FTM

$sFTMx / $USDC will likely come further down the line

14/ Excitingly:

Since $sFTMx / $FTM are pegged 1:1...

Impermanent loss is for liquidity providers is a negligible concern (assuming the peg is always maintained)

We've see a similar 1:1 LP concept with tokens like $SPIRIT / $linSPIRIT from @LiquidDriver

15/ Given that @stader_ftm will have Liquidity pools on @Spirit_Swap, @beethoven_x & @SpookySwap...

This means LP providers can choose between:

- 50/50 liquidity pools
- Weighted / Boosted Pools from @beethoven_x

16/ Speaking of Boosted Pools from @beethoven_x...

I can't help but wonder if $sFTMx adds another fold to Boosted Pools. A V2 of sorts…

Utilizing Yearn for sustainable APR = V1

While $sFTMx earning $FTM staking rewards for passive APR on @beethoven_x = V2?

We'll see 🤷‍♂️

17/ A new participant in the Bribe Wars?

Both @beethoven_x & @Spirit_Swap offer governance token holders, $fBEET & $inSPIRIT holders, the opportunity to vote on bi-weekly gauge emissions

@stader_ftm could become a new participant in this to drive higher APR to their pools!

18/ The $SD token...

@stader_ftm plans to bring their token to $FTM

With $sFTMx earning value from staking rewards, there could be a potential protocol revenue fee sharing model for $SD token holders

As well as cross chain governance of future protocol decisions. Still TBD!

19/ As always, everyone should DYOR on all of this!!

With particular attention paid to what happens if you want to unstake with Stader?

Worth reading is the concept of the “Free pool” & any deducting penalties...

That info can be found here:
blog.staderlabs.com/introducing-sf…

20/ It's going to be exciting to watch the launch of @stader_ftm & all the potential they can unlock for #Fantom

I'm encouraged that they've been in lock step with the @FantomFDN throughout their planning...

There is so much going on with $FTM & it's concept of a 'V2'...🥳

21/ The market has been rough lately, but turbulent times almost always lead to smoother sailing down the road...

IMO, the future of $FTM is a massively bullish one!

Trying to keep up with all the evolutions is the hard part, which seems like a bullish problem to have...

22/ We welcome @stader_ftm to the #Fantom family & wish them the best of luck with their launch!

Big thanks to the #Fantom protocols who put on these AMAs / Spaces!

For the current $FTM holders...and any new perspective $FTM users...there is always more room in the $FTM fam!

@stader_ftm 23/ Need to add an amendment to the above:

$sFTMx <> $FTM exchange rate will be initialized as 1 AT THE START of the contract. Every time staking rewards are added to the pool the $sFTMX <> $FTM exchange rate will increase*

Thanks @jlontele for keeping me honest! 👇