As explained in the transparency framework outlined here, we have committed to publishing monthly revenue reports for the protocol. This is the first of such reports.
This initial report covers revenues for the months of June, July, and August 2025, and includes data from the LST product line only. Revenue from Cabbage will be included starting later this year.
Revenue Breakdown:
Figures are shown in both ETH and USD terms and are broken down by chain. These figures represent the fees generated by validator operations and protocol-level services.
- Total June Revenue: 59,579 USD
- Total July Revenue: 67,728 USD.
- Total August Revenue: 118,660 USD.
Buyback Allocation
As per the previously announced structure, 20% of protocol revenue is allocated to SD buybacks on the open market. These buybacks occur on a quarterly basis, with purchases executed onchain.
The buyback to be executed in September shall be made with the following USD:
- Total Revenue June / July / August: $245,967
- 20% Revenue dedicated to SD buybacks = $49,134
The SD tokens bought back from the market can be tracked in the following wallet:
https://debank.com/profile/0xefe40ff167a89ce3babdad161d41d798ca7116b2
This post is part of our ongoing commitment to full transparency and open reporting. Future reports will continue monthly, and the scope will expand to include all major revenue lines across the Stader ecosystem.
Please use the comments below for feedback or questions !