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Sidhartha Doddipalli

Sidhartha Doddipalli is the Co-founder of , a non-custodial, -based platform designed to streamline the utilization of staking solutions. [1][2]

Education

Doddipalli attended the Indian Institute of Technology in Madras for a Bachelor of Technology degree. From 2012 to 2013, he attended the Columbia Business School to study Data Science and Technology in Entrepreneurship. He also earned his Master of Science degree (MS, Operations Research) at Columbia University in 2013. [1]

Career

Sidhartha Doddipalli began his career as a Data Scientist at LatentView Analytics from August 2010 to September 2011. He has also served as a Full Stack Developer and Teaching Assistant at the Columbia Business School. [1]

In 2013, he joined Fusemachines as a Software Engineer where he delivered an automated answering system for customer questions. From 2014 to 2020, he was a Senior Data Scientist at FreeWheel. Here, he owned and architected the national advertisement (ad) optimizer for NBC Universal (NBCU), replacing the legacy in-house optimizer and converging TV and digital inventory. Built secure data pipelines, multi-environment infrastructure, monitoring dashboards, CICD pipelines, and alerting systems to support this product. [3]

In 2020, he served as a Senior Data Scientist at Advanity Technologies until May 2021. [4]

Stader Labs

Doddipalli co-founded alongside in April 2021. Stader Labs is dedicated to crafting decentralized financial protocols and solutions tailored for effective asset management across public  networks. [1][2]

Stader's core innovation lies in , a mechanism that enables users to generate tokens representing their staked assets. These tokens appreciate in value as staking rewards accumulate, fostering participation in both network security through staking and the  space. [2]

Stader ETHx

Stader ETHx is a  solution for , allowing users to   and receive stETHx, a liquid staking token. This product allows users to earn staking rewards while retaining liquidity, facilitating participation in  (DeFi) activities without locking up assets. [5][6]

It was launched by Stader Labs in July 2023, ETHx ensures continuous staking rewards, enabling the growth of Ethereum holdings while integrating with  to allow users to explore additional  and lending opportunities. Additionally, ETHx contributes to 's decentralization efforts, promoting scalability and resilience within the network. [2]

SD Token

The Stader (SD) token serves as the value accrual and  for the Stader ecosystem. It conforms to the  standard with a total supply capped at a total of 150 million tokens. [7]

It has 4 major utilities: Governance - when users stake SD tokens, they will receive xSD which is an auto-compounding token. xSD will have governance rights, Preferential Delegations & Slashing Insurance - validators stake xSD tokens to receive preferential delegations and provide slashing insurance, Liquidity Pools - liquidity providers for SD, xSD pairs with stables/native tokens will receive SD token rewards and pool fees, and finally, for Stader Infrastructure - third-party protocols will stake xSD tokens to leverage Stader contracts/infrastructure. [7]

Funding

In January 2022, the Stader Labs team raised $12.5 million in a funding round led by Three Arrows Capital, valuing the company at $450 million. Blockchain.com, Accomplice, GoldenTree Asset Management, Accel, and other investors also provided funding. [8][9]

In October 2021, Stader Labs raised $4 million in a seed round, led by . , True Ventures, Jump Capital, and Ledgerprime also participated in the round. [10]

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Sidhartha Doddipalli

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July 5, 2024

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