Stakers deposit funds into Stader and receive a return on investment in the form of staking rewards (supply-side revenue). Fantom fees and revenues are not included. 

Stader is a non-custodial liquid staking protocol built on Ethereum and other blockchains. Stader was founded by Amitej Gajjala, Dheeraj Borra & Sidhartha Doddipalli and launched in 2021.

SD tokenholders own and govern the protocol. They currently take a cut of the total return on investment (revenue). Stader’s investors include GoldenTree Asset Management, Blockchain.com, Pantera Capital etc.

governance

github

twitter

discord

etherscan

website

Liquid staking

Stader

# Stader Supply-side fees Methodology

## 1. Overview

Supply-side fees represent the total fees earned by liquidity providers or stakers in Stader's liquid staking protocol. This metric captures the value distributed to users who stake their tokens through Stader across BNB and MATIC staking products. The calculation combines direct user yield distributions from the BSC chain with scaled protocol fee distributions from the Ethereum chain.

## 2. Data sources

- **BSC function call logs**: Parsed function call data from Stader's `StakeManager` contract on BSC, specifically the `addRestakingRewards` function calls that distribute BNB yields directly to users
- **Ethereum event logs**: Parsed event logs from Stader's `MaticX` contract on Ethereum, specifically `DistributeFees` events that capture protocol-level MATIC fee distributions
- **End-of-day price feeds**: Daily closing prices for BNB and MATIC tokens used for USD conversion
- **Token metadata**: Token decimal specifications and contract addresses for proper amount normalization

## 3. Step-by-step calculation

### Component A: BNB user yields
- **Purpose**: Captures direct yield distributions to BNB stakers on the BSC chain
- **Logic**: Extracts data from BSC blockchain function calls to Stader's `StakeManager` contract. Filters for successful transactions where `status` equals true, ensuring only completed yield distributions are included. Extracts the `amount` parameter from `addRestakingRewards` function calls, which represents BNB yields being distributed directly to users
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for unique identification, `amount` for yield value in native BNB units, and contract address `0xbb4cdb9cbd36b01bd1cbaebf2de08d9173bc095c`

### Component B: MATIC protocol yields
- **Purpose**: Captures protocol-level fee distributions for MATIC staking, scaled to represent actual supply-side fees
- **Logic**: Extracts data from Ethereum blockchain event logs from Stader's `MaticX` contract. Filters for valid events where `removed` equals false, ensuring only legitimate blockchain events are processed. Extracts the `amount` parameter from `DistributeFees` events and applies a 9x multiplier to convert protocol yields to supply-side fees. This multiplier accounts for the relationship between protocol-collected fees and the actual fees distributed to stakers
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for unique identification, `amount` multiplied by 9 for scaled fee value in native MATIC units, and contract address `0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0`

### Final aggregation
- **Combining components**: Union the BNB user yields and scaled MATIC protocol yields into a single supply-side fees dataset, maintaining separate records for each blockchain and token type
- **Currency conversion**: Convert native token amounts (BNB and MATIC) to USD using end-of-day price feeds, with proper decimal correction based on each token's decimal specification
- **Time aggregation**: Truncate timestamps to daily boundaries and aggregate all supply-side fees within each day
- **Final calculation**: Sum all USD-converted supply-side fees by day, applying zero-filling for missing dates and chain availability filters to exclude periods with known data quality issues

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Portion of fees distributed to service providers or supply-side participants.

StaderSD

Supply-side fees

Supply-side fees

Competitive landscape

Chain breakdown