# Stader (SD) — machine-readable summary

> FORTUNA SIGNAL · FORA-01 evidence dossier · Researched 2026-09-15 · https://ron-delhaye-studios.github.io/fortuna-signal-live/tokens/sd.html

## Definition
Stader is a multi-chain liquid-staking infrastructure platform building modular staking 'lego blocks' — stake pools, liquid staking tokens (ETHx, MaticX, BNBx), and validator tooling — across PoS networks including Ethereum, BNB Chain, and Polygon.

## What the holder owns (FORA-01 Q1)
SD is the ERC-20 governance and utility token of Stader, a non-custodial liquid-staking protocol. Holders can participate in StaderDAO governance; use SD as a node-operator bond (e.g., 0.4 ETH worth of SD alongside 4 ETH for ETHx validators); and delegate SD to the SD Utility Pool, where it serves as slashing insurance for node operators in exchange for delegation rewards (a 10% utilization fee paid by operators plus SD emissions). A portion of protocol fees (3-10% of staking rewards) flows to SD stakers, and Stader has run quarterly SD buybacks funded by 20% of revenue (first buyback September 2, 2024). SD confers protocol-utility rights, not ownership of staked assets.

## Verification verdict
Class A (Class A) — FORA-01 scale: verification, not a quality ranking.
q1 VERIFIED · q2 VERIFIED · q3 VERIFIED · q4 VERIFIED · q5 VERIFIED

## Plain-language utility
Governance token for Stader — holders vote on protocol decisions.

## Key risks & notes
The official litepaper (2021, read for this summary) stated a 150M supply, but later official tokenomics posts describe a rebooted 120M cap with buybacks — the litepaper is materially dated, so current tokenomics must be verified separately. Risks: competition with Lido and Rocket Pool in ETH liquid staking, smart-contract risk, emission dilution, and dependence on staking-fee revenue.

## Primary source
- https://www.staderlabs.com/docs/stader-litepaper.pdf

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Machine summary generated at build time from the same fields as the human page. Free educational content — not investment advice.