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Stader Labs, a leading liquid staking provider, announced a significant reduction in the supply of its native token, $SD. On June 25, 2024, Stader Labs burned 30 million $SD tokens, reducing the total supply from 150 million to 120 million. This burn, valued at $18 million, represents 20% of the total supply and is part of Stader's broader Tokenomics Reboot plan. The move is expected to enhance the utility and value of $SD, which is already a prominent player in the liquid staking sector with a total value locked (TVL) of over $700 million. Stader Labs is the largest liquid staking token provider on Polygon and Hedera, with over 85,000 stakers.
Stader Labs made waves, achieving $700+ million TVL Now it's the largest LST on Polygon & Hedera, with 85k+ stakers. On June 25, they’ll burn 20% of $SD supply, reducing it from 150 million to 120 million. Discover the potential impact 🧵👇 https://t.co/pqghZCrqcD
🚨 Bullish news for $SD tokenomics 20% of total supply worths $18M were burnt today First target in Stader Tokeomics plan is complete... it's just getting started 👀 https://t.co/LJrWpLv56O
🔥 30Mn $SD tokens have been burnt. 🔥 The optimized future is here! The total supply has now been reduced from 150Mn to 120Mn $SD tokens. $SD is just getting started. Stay tuned for more on the Tokenomics Reboot. https://t.co/s0fJ5v2evH
