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Stader Launches Campaign Using BNBx on ApeSwap, Ellipsis.finance

Stader Labs targeted Ellipsis.finance for its stable swap mechanicsm and ApeSwap for its flexible farming options.

Stader Aims at Stable Swap, Flexibility

Stader Labs has ramped up its BNB Chain campaign by collaborating with two leading Decentralized Exchanges (DEXes) ApeSwap and Ellipsis.finance.

This is the first significant move by Stader since the multichain staking platform moved to the BNB ecosystem and gave the public access to liquid staking on BNB, which is one of the biggest blockchains in the market, in terms of Total Value Locked (TVL).

“Ellipsis was the biggest stable swap AMM, which gives lower slippage as compared to xyk DEXs, and ApeSWap had some very flexible options, so we looked at Jungle Farm for BNBx: BNB and a BANANA farm for SD:USD,” Stader’s BNB Business Head Gautam Midha told BSC News.

In addition, the Stader team also said they have many other new plans to further meet the needs of DeFi users, especially for new leveraged staking products on BNB Chain.

“We are working on integrating with more DEXs and lending protocols as well as bringing some leveraged products and options to BNBx holders,” Midha said.

What Is Stader Labs:

Stader Labs was founded in April 2021 by Amitej Gajjala, Sidhartha Doddipalli, and Dheeraj Borra. It specializes in cryptocurrency stake management. Stader plans to use decentralized financial protocols and applications to manage stakes efficiently on public blockchain networks.

Stader Labs raised $12.5 million this January in a strategic private sale, raising their valuation to $450 million. Stader Labs is backed by Pantera Capital, Coinbase Ventures, Jump Capital, Accomplice, Accel, Huobi Ventures, Hypersphere and True Ventures, among others.

Where to find Stader Labs:

Website | Twitter | Medium | Telegram | Discord

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