StaderSD

Stader generated $16.2M in gross revenue from Dec 2024 to Aug 2026 (597 days), with $840.5K retained as net revenue. $403.4K accrued to SD token holders. Its primary token utilities include Network Security, Staking Rewards, Staking Access, and Standard 1:1.

This averages $$27.2K in daily gross revenue across the tracked period.

SD accrues value through 2 mechanisms: Buyback & Burn and Direct Revenue Share.

• Buyback & Burn: StaderDAO approved allocating 20% of annual revenue for quarterly buybacks that remove SD from circulation. Two buybacks have been completed: $150K in Sep 2024 and $63.5K in Dec 2024, tracked via a public wallet.
• Direct Revenue Share: SD holders who delegate to the SD Utility Pool earn real yield in ETH from 10% of node operator commissions on validator rewards, requiring active SD delegation to be eligible.

Yes, Stader burns or redistributes SD tokens via Buyback & Burn. In 2026, approximately $96.1K worth of value was returned to token holders through these mechanisms.

Yearly token holder distributions:

• 2026: $96.1K
• 2025: $300.0K
• 2024: $7.3K

SD serves 4 primary functions within the Stader ecosystem: Network Security, Staking Rewards, Staking Access, and Standard 1:1. The protocol generates fees from user activity, with a portion distributed back to SD holders. Value flows back to token holders through Buyback & Burn and Direct Revenue Share.

Token utilities:

• Network Security: Permissionless ETHx node operators must bond a minimum of 0.4 ETH worth of SD per validator as secondary slashing insurance collateral alongside their 4 ETH primary deposit, securing validator operations on the Ethereum network.
• Staking Rewards: Node operators bonding SD receive proportional monthly reward distributions, and SD holders delegating to the SD Utility Pool earn real yield from node operator commissions (10% of commissions flow to delegators).
• Staking Access: Bonding SD is required to operate permissionless ETHx validators; without the 0.4 ETH minimum SD bond, operators cannot participate in the validator set or access associated yield opportunities.
• Standard 1:1: SD implements one-token-one-vote governance via Snapshot voting proportional to token holdings, with no lockup or time multiplier required; any community member can submit proposals across four categories.

Value accrual mechanisms:

• Buyback & Burn: StaderDAO approved allocating 20% of annual revenue for quarterly buybacks that remove SD from circulation. Two buybacks have been completed: $150K in Sep 2024 and $63.5K in Dec 2024, tracked via a public wallet.
• Direct Revenue Share: SD holders who delegate to the SD Utility Pool earn real yield in ETH from 10% of node operator commissions on validator rewards, requiring active SD delegation to be eligible.

In 2026, Stader generated $4.3M in gross revenue. Of that, $96.1K was distributed to token holders, $129.7K was retained as protocol revenue (treasury), $4.0M went to supply-side participants (e.g. liquidity providers).

Year-by-year revenue breakdown:

• 2026: $4.3M gross revenue — $96.1K to holders, $129.7K to protocol, $4.0M to supply-side
• 2025: $11.7M gross revenue — $300.0K to holders, $300.0K to protocol, $11.1M to supply-side
• 2024: $288.7K gross revenue — $7.3K to holders, $7.4K to protocol, $274.1K to supply-side

Stader's gross revenue has decreased by 37.8% over the past 90 days compared to the prior 90-day period, from $1.9M to $1.2M.

• Recent 90d daily average: $13.5K/day
• Prior 90d daily average: $21.5K/day