Crypto Startup Attempts to Recover From Luna Disaster


    • Stader Labs was one of the firms affected by the LUNA and UST crash.
    • The ecosystem may be restored ff Terraform Labs can keep its developers.
    • Terra’s implosion underscores the ability of crypto sectors to quickly pivot after a big shakeout.

Stader Labs, a Bengaluru-based company that develops software for cryptocurrency trading and analysis, was one of the many crypto firms caught up in the Terra (LUNA) and UST crises.

Stader has created a profitable business by providing a platform for staking, in which token holders allow their tokens to be used to help verify transactions on a blockchain in exchange for a return on their investment. Almost all of that revenue came before the fall of Luna, which, like TerraUSD, ran on the Terra blockchain and hit an all-time high in early April.

When TerraUSD (UST) fell from its 1-to-1 peg to the US dollar this month, it dragged Luna down, affecting Stader’s company. According to data from industry analyst DeFi Llama, the total value bound on its …