Guide: Stader BNBx Pool
Stader is a multi-chain liquid staking platform enabling users to access the liquidity of their assets by leveraging Stader’s liquid staking derivative — BNBx. Users can leverage Stader’s liquid tokens across a growing ecosystem of protocols across chains. With the Stader BNBx pool, users can seamlessly access the liquidity of their staked assets and participate in additional opportunities while their original assets accrue staking rewards. This is yet another pool in the liquid staking ecosystem at Midas enabling users to make the most of their assets.
Below is an infographic that covers the whole process, followed by a step-by-step breakdown of the same.
Users can get started with the Stader BNBx pool on BNB Chain in just a few clicks.
Connecting To Midas Capital
Step 1: Visit Midas Capital
To get started, users can visit the Midas App, which showcases vital details regarding all available pools. These details include supported blockchains, total liquidity, TVL, and more. Even better, users can view all available pools and their details without connecting to any wallet.
Step 2: Connect Your Wallet
To participate in the BNBx pool, users can connect a supported wallet to the Midas application. The platform currently supports Metamask, Rainbow, Coinbase Wallet, and WalletConnect, enabling users to log in seamlessly with a single click.
If you do not have a BNB Chain network in your wallet or are using a new wallet altogether, you can visit Chainlist, connect your wallet, and add Binance Smart Chain Mainnet to your Metamask account. This, of course, is valid for all chains that you may encounter at Midas or anywhere else.
Supplying Assets To The Pool
Step 1: Choose The Stader BNBx Pool On BNB
From the Midas dashboard, click on the Stader BNBx pool to get started.
Step 2: Select The Asset You Wish To Supply
You can choose to supply a variety of assets to the pool as collateral. The pool currently enables users to deposit WBNB, BNBx, epsBNBx-BNB LP, and ApeSwap BNBx-WBNB LP tokens. Once you have selected the asset you wish to deposit, click on it, then click Supply.
Step 3: Confirm The Transaction
Enter the amount you wish to deposit in the pool and confirm the transaction. Once the transaction is finalized, the pool will display your added liquidity. Now, you can enable various strategies, borrow assets (if enough liquidity is supplied), and earn lending interest on your deposits.
To help users truly make the most of their assets, Midas also enables users to deposit various LP tokens as collateral in the pool. Therefore, users can participate in additional opportunities while their original capital is still earning rewards elsewhere. Furthermore, many of these LP tokens are then redeposited by Midas into supported yield-generating strategies for additional yield for users. This is possible through the ERC-4626 tokenized vault standard.
The Stader BNBx pool enables users to deposit ApeSwap BNBx-WBNB LP and epsBNBx-BNB LP tokens in the pool, which are then redeposited into Beefy vaults for additional yield.
Borrowing Against Your Collateral
Once users have supplied liquidity in the pool, they can borrow supported assets against their collateral. The minimum amount that can be borrowed currently is $100.
The Stader BNBx pool currently supports WBNB as a borrowable asset. Choose the asset, enter the amount you wish to borrow, and then click confirm.
The dashboard also displays the borrow limit with respect to the liquidity added in the pool, which showcases how much of the collateral LTV is being borrowed. We recommend users not borrow 100% of their borrow limit to avoid unintended liquidations. Furthermore, the more volatile the collateral, the less amount you should borrow to have some breathing room in case the price of the asset fluctuates severely. This will help avoid unnecessary liquidations in minimal price movements.
Repaying The Borrowed Assets
To repay any borrowed asset, click on the respective asset to open the asset menu. Then, click on repay and enter the amount to repay, or click on ‘MAX’ to clear your debt balance.
Once the amount is confirmed, click on confirm transaction. Note that you will have to pay a higher amount than borrowed due to the accrued interest.
Withdrawing The Supplied Liquidity
Once you wish to withdraw the assets you have supplied, you can head to the pool and click on the respective asset, then click withdraw. Enter the amount you wish to withdraw, or click on ‘MAX’ to withdraw the maximum amount. Once you confirm the amount you want to withdraw, click on confirm transaction.
About Midas Capital
Midas Capital is bringing isolated and customizable money markets to EVM-compatible blockchains. Enabling users, DAOs, and protocols to create customized and isolated pools for lending and borrowing any asset, Midas is building a cross-chain ecosystem that democratizes money markets. Pool creators have the flexibility to modify pool parameters (interest rate curves, oracles, collateral factors, pool fee, etc.) according to their risk appetite. With isolated pools, Midas offers stellar features for large-scale institutions, protocols, and traditional investors.
