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LunaX

What is Liquid Staking?​

Liquid staking is an alternative to plain staking for a set of customers who want instant liquidity and the opportunity to further participate in DeFi applications. Users get access to a Liquid token on their staked Luna, which they can use to enjoy LP incentives across DEXs & leverage the liquid token while accruing staking rewards. With the liquid token, you users can avoid the 21 to 24 days unbonding period as it can be swapped instantaneously on a DEX. The liquid token for Stader - Terra is LunaX.

What is LunaX?​

LunaX is a liquid staking token by Stader that enables instant unlocking of staked Luna & opens up possibilities across DeFi protocols. When you deposit Luna with Stader Liquid Staking, In return you receive LunaX. With LunaX, users can have the following benefits:

  • LunaX represents your staked Luna, rewards get auto-compounded & are reflected in the price of LunaX.
  • LunaX can be transferred, stored, spent, or traded like a regular token.
  • LunaX can be used across Defi for collateralization, lending, LP pools & more.

How does LunaX work?​

LunaX is an auto-compounding accrual token that can be minted at the prevailing exchange rate when users stake with Stader liquid staking.

  • Exchange Rate: The rate at which LunaX is minted based on Luna deposit. The Luna to LunaX Exchange Rate will be 1:1 at Genesis. It will be timely updated based on accumulated staking rewards.
  • Minting: Users can mint LunaX by staking with the Stader liquidity pool at the prevailing exchange rate
  • Value Accrual: The rewards generated on the staked Luna would be restaked at regular intervals. As the rewards accrue, there is no increase in the LunaX supply, hence the price of LunaX increases vis-a-vis Luna.
  • Burning: Users can burn LunaX and unstake Luna at the current exchange rate for a small fee. Instant Liquidity: LunaX can be instantly swapped for Luna for a small fee on DEXs.

What happens to my rewards when I hold the LunaX token?​

Your rewards generated on Terra 2.0 would be restaked by Stader every 24 hours. The price of LunaX increases as rewards get accrued.

Which validators are part of the LunaX pool?​

The initial list of validators on LunaX is added based on the following selection criteria:

  • 180 days on Terra Classic
  • No slashing in 3 months prior to UST-depeg
  • Social links (Website, Twitter, Telegram) updated on Terra 2.0

List of validators:

  • polkachu.com
  • Smart Stake
  • coinhall.org
  • allnodes.com
  • Gidorah
  • Terrascope
  • Setten
  • TCB @THORmaximalist
  • PFC: Panama Flower Company
  • danku_zone w/ DAIC
  • Orbital Command

Is LunaX audited?​

Our smart contract on Terra V1 has incremental upgrades over the previous production contract that underwent 4 audits by Certik, Halborn, and Zinstitute. The new smart contract upgrades have been reviewed and audited by Halborn - LunaX audit report