Stader (ETHx) Review
GPL-3.0, permissionless pool, named auditors
of 10
Stader deducts 10% of ETHx rewards, split evenly between a protocol fee and node operator commission, with a 7 to 10 day unstaking queue. It runs both a permissionless and a permissioned operator pool, releases under GPL-3.0, and names Sigma Prime, Halborn and Code4rena as auditors.
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Fee
10% of rewards: 5% protocol, 5% operator
Receipt token
ETHx, value-accruing
Unstaking
7-10 days, subject to network queues
Operators
Permissionless pool plus a curated permissioned pool
Licence
GPL-3.0
Scores
Each criterion carries equal weight. The overall score is the average of these 5 scores — (9.0 + 7.0 + 9.0 + 10.0 + 9.0) ÷ 5 = 8.8.
Pros
- Fee published as 10% of rewards: 5% protocol, 5% node operator commission
- ETHx is value-accruing, rising in exchange rate against ETH
- Runs a permissionless pool anyone can operate nodes in, alongside a curated pool
- GPL-3.0 on the ethx repository
- Auditors named: Sigma Prime, Halborn and Code4rena, with reports public
Cons
- Unstaking takes 7-10 days, subject to Ethereum entry and exit queues
- No instant-exit route is described in the documentation
- The permissioned pool is curated rather than open
Commission split down the middle, and published
Stader deducts a total of 10% from rewards and states the split: 5% as a protocol fee and 5% as node operator commission. Publishing the destination of the cut, not just its size, is what this criterion looks for.
Genuinely permissionless, in part
Stader runs a permissionless pool in which anyone can participate and operate nodes, alongside a curated permissioned pool. Open operator entry is rarer than it sounds in this category, and it earns a high decentralisation score even though half the design is curated.
Open source and audited
The ethx repository carries GPL-3.0, and the documentation names Sigma Prime, Halborn and Code4rena with reports made public. The one weaker point is exit: unstaking runs 7 to 10 days through the network queues, with no instant route documented.
Who builds Stader?
ETHx is built by Stader Labs, whose multi-chain staking infrastructure dates to 2021; ETHx went live on Ethereum mainnet in July 2023. It is governed through the SD token and the Stader DAO, with rewards subject to DAO voting. Stader shares its origins with the team behind Kelp, the rsETH restaking protocol — a lineage worth knowing if you use both, since a common team sits behind them.
How it compares
Origin Ether (OETH)
MIT-licensed with four named auditors
Jito (JitoSOL)
Value-accruing SOL staking with published exit fee
Mantle (mETH)
No-fee redemption and named operators
Puffer (pufETH)
Permissionless operators at a 2 ETH bond
Ankr (ankrETH)
Instant exit at a stated 0.5%
Bedrock (uniETH)
Fee split published, licence unverified
Liquid Collective (LsETH)
Institutional model with a slashing-coverage treasury
Frax Ether (sfrxETH)
Insurance-fund carve-out, one repo unlicensed
Swell (swETH)
Named operators, docs behind a challenge
Sources
Scored from published primary sources rather than hands-on use. Every figure above comes from one of the pages below, on the date shown. Manufacturers change prices and specifications without notice — if something here no longer matches the source, tell us and we will correct it.
- 1.Stader — ETHx documentation (fee, unstaking, operators) — checked
- 2.Stader ethx — LICENSE (GPL-3.0) — checked
- 3.Stader ethx — README (operator pools and audits) — checked
- 4.Stader Labs — ETHx now live on mainnet — checked
Frequently asked questions
What fee does Stader ETHx charge?
A total of 10% of rewards, split evenly into a 5% protocol fee and 5% node operator commission.
How long does it take to unstake ETHx?
Stader states an unstaking period of 7 to 10 days, subject to Ethereum's entry and exit queues.
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