Stake.link Liquid Staking Calculator
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Stake.link vs. Other Platforms
| Platform | TVL (USD) | APY Range | Liquidity Depth |
|---|---|---|---|
| Stake.link | $64.91M | 5.15% | $480K |
| Lido | $29.7B | 4.6%-6.2% | $1.2B |
| Rocket Pool | $3.1B | 5.0%-7.0% | $210M |
Results
How It Works
Stake.link converts your LINK or POL into stLINK or stPOL, which represent your staked tokens while maintaining liquidity for DeFi use.
Your rewards auto-compound and are reflected in your stLINK/stPOL balance. By staking SDL tokens, you also earn a share of platform fees.
If you’ve been following the Chainlink ecosystem, you’ve probably seen the name stake.link pop up in DeFi dashboards. But what exactly is stake.link, and why does its native SDL token matter to a LINK holder? In this guide we break down the protocol, its unique liquid‑staking products, the tech behind it, and how you can start using it today.
What is stake.link and the SDL token?
Stake.link is a dedicated liquid‑staking platform built for the Chainlink ecosystem. Launched in 2023 by a group of 15 top‑tier Chainlink node operators, the protocol lets you lock LINK (and later POL) while receiving a tradable receipt token that auto‑compounds rewards. The receipt token for the platform’s governance and fee‑sharing is called SDL. SDL holders can stake the token to earn a share of platform fees and vote on protocol upgrades.
Why liquid staking matters for Chainlink
Unlike Ethereum, LINK cannot be natively staked on its own chain to secure the network. Node operators need to lock LINK into the Chainlink staking contract, but the tokens become illiquid for the duration of the lock‑up. Stake.link solves this by minting stLINK, a liquid staking token (LST) that represents your staked LINK. Because stLINK is an ERC‑20 on Ethereum, you can use it in any DeFi protocol-swap it on Uniswap, lend it on Aave, or provide it to Curve pools-while still earning the underlying staking rewards.
Stake.link’s core products
- stLINK: Represents LINK that is locked in the Chainlink staking contract. Rewards are auto‑compounded and reflected in the token’s balance.
- stPOL: Launched in Q2 2024, this token works the same way but for POL (Polygon’s native token) staked on the Polygon network.
As of 21 Oct 2025, the protocol holds $64.91 million in Total Value Locked (TVL) on Ethereum, with a combined staked value of $82.06 million when you factor in SDL staking. The average APY across both products hovers around 5.15 %, though it fluctuates with market conditions and the amount of LINK or POL being staked.
SDL: Governance and fee‑sharing
SDL does more than just give you a voting badge. When you stake SDL, you receive a proportional cut of all platform fees-trading fees from the Uniswap pool, performance fees from the auto‑compounding engine, and any future fee streams the protocol adds. This creates a dual‑incentive model: SDL holders benefit from governance power *and* a passive income stream tied to the platform’s overall health.
Technical architecture and user requirements
Stake.link runs on Ethereum smart contracts audited on GitHub. Interaction requires an Ethereum‑compatible wallet such as MetaMask, with enough ETH to cover gas for staking, withdrawing, or swapping. The protocol is deliberately simple-no custom UI libraries, just a clean web portal that connects to your wallet, lets you choose the asset (LINK or POL), and confirms the transaction.
Because the LSTs are standard ERC‑20 tokens, they can be integrated with any DeFi app that accepts ERC‑20s. This composability is the main advantage over “locked‑only” staking solutions.
How stake.link stacks up against the big players
| Metric | Stake.link (SDL) | Lido (LDO) | Rocket Pool (RPL) |
|---|---|---|---|
| TVL (USD) | $64.91 M | $29.7 B | $3.1 B |
| Primary Asset | LINK / POL | ETH | ETH |
| APY (average) | 5.15 % | 4.6 %‑6.2 % | 5.0 %‑7.0 % |
| Liquidity (SDL/ETH pool) | $480 K | $1.2 B | $210 M |
| Specialization | Chainlink + Polygon LSTs | General ETH staking | General ETH staking |
Stake.link’s niche focus gives it deeper integration with Chainlink’s oracle mechanics, but the smaller TVL and lower liquid market depth mean higher price impact when swapping large amounts of SDL. For users looking specifically to keep LINK liquid, however, it remains the only purpose‑built solution.
Risks and considerations
- Liquidity gap: SDL’s pool on Uniswap holds under $0.5 M, so large trades can slide the price.
- Regulatory exposure: The SEC’s 2024 action against Lido highlights that liquid‑staking protocols can be treated as securities.
- Smart‑contract risk: As with any DeFi app, bugs could lead to loss of staked assets. Stake.link’s code is open‑source, but audits are less frequent than Lido’s.
- Market concentration: Most TVL sits on Ethereum, so gas fees can spike during network congestion.
Step‑by‑step: How to start staking with stake.link
- Install MetaMask (or any Ethereum‑compatible wallet) and fund it with ETH for gas.
- Buy LINK (or POL) on a spot exchange and transfer it to your wallet.
- Visit stake.link and connect your wallet.
- Select the asset you want to stake (stLINK or stPOL) and enter the amount.
- Confirm the transaction; the protocol will lock your tokens in the Chainlink/Polygon staking contract and mint the corresponding LST.
- If you also want fee‑sharing, go to the SDL staking section, approve SDL, and stake the desired amount.
- Now you can use your stLINK or stPOL on Uniswap, Aave, or any compatible DeFi app while earning auto‑compounded rewards.
To withdraw, simply click “Unstake” on the dashboard, pay the gas fee, and you’ll receive your original LINK/POL plus accumulated rewards after the protocol’s unlock period.
Future outlook for stake.link
The addition of stPOL shows that the team is serious about becoming a multi‑chain LST index. Their roadmap hints at bringing in staking for other high‑value assets such as SOL or AVAX, which would broaden the user base and increase SDL’s utility. However, the protocol’s growth is tightly coupled with Chainlink’s market relevance-if Chainlink’s oracle demand wanes, so will the incentive to lock LINK.
Regulatory clarity will also play a role. Should the SEC provide a definitive stance on liquid‑staking tokens, stake.link may need to adapt its fee‑sharing model or add KYC layers. For now, the platform remains a solid option for LINK holders who want liquidity without sacrificing staking rewards.
Key takeaways
- Stake.link is the **only** liquid‑staking solution built specifically for Chainlink’s LINK token.
- Users receive stLINK (or stPOL) which can be used across DeFi while automatically earning staking rewards.
- The native SDL token powers governance and fee sharing.
- Liquidity is modest compared to Lido or Rocket Pool, so large trades can impact price.
- Getting started only requires an Ethereum wallet, some LINK or POL, and a bit of ETH for gas.
Frequently Asked Questions
What is the difference between stLINK and regular LINK?
stLINK is an ERC‑20 receipt token that represents LINK locked in the Chainlink staking contract. While regular LINK is illiquid during the lock‑up, stLINK can be traded, swapped, or used as collateral in DeFi.
How does SDL generate revenue for holders?
When you stake SDL, you earn a share of the protocol’s fee pool-trading fees from the Uniswap pool, performance fees on auto‑compounding, and any future fee streams. The rewards are distributed proportionally to the amount of SDL you stake.
Is stake.link safe to use?
The contracts are open‑source and have undergone community audits, but like any DeFi protocol they carry smart‑contract risk. Users should only stake amounts they’re comfortable risking and keep an eye on audit updates.
Can I stake Ethereum (ETH) on stake.link?
No. Stake.link currently only supports LINK and POL staking. ETH staking is handled by other platforms like Lido and Rocket Pool.
What are the gas costs involved?
All transactions (deposit, withdraw, SDL staking) happen on Ethereum, so you’ll need ETH to pay gas. Costs vary with network congestion but usually range from $5‑$30 per transaction in 2025.
How can I earn higher yields on stLINK?
Yield varies with the amount of LINK staked and overall network demand. Adding more LINK to the pool increases the auto‑compounding effect, and some DeFi platforms offer bonus incentives for supplying stLINK as collateral.
Comments (9)
Jenna Em
We all chase freedom, but the chains are invisible. Stake.link promises liquid freedom for LINK, yet the code lives on a network watched by unknown eyes. Every receipt token feels like a promise that could be revoked tomorrow. If the regulators decide that liquid‑staking is a security, all that liquidity could evaporate. The deeper you go, the more you realize we are just pawns in a larger algorithmic game.
Stephen Rees
It’s easy to overlook how the architecture mirrors old financial structures, merely dressed in code. The auto‑compounding engine sounds like a benevolent force, but it could be a veneer for hidden fee extraction. When you lock LINK, you trust a handful of node operators with your future. Their motivations are not always aligned with the community’s. The whole ecosystem feels like a house of mirrors.
Katheline Coleman
Stake.link represents a noteworthy development within the Chainlink ecosystem, offering a dedicated liquid‑staking solution for LINK and, more recently, POL. The protocol’s architecture is predicated upon the minting of receipt tokens, namely stLINK and stPOL, which encapsulate locked assets whilst remaining ERC‑20 compliant. This design facilitates composability, enabling users to deploy these tokens across a myriad of DeFi platforms without relinquishing accrued staking rewards. Moreover, the native SDL token serves a dual function: governance participation and proportional entitlement to protocol fee revenues. By staking SDL, participants gain exposure to the cumulative fee streams derived from trading activities on associated Uniswap pools as well as performance fees generated by the auto‑compounding mechanism. The governance framework, anchored by SDL holders, permits voting on protocol upgrades, thereby aligning incentives between token holders and the development team. Empirical data as of 21 October 2025 indicates a Total Value Locked of approximately $64.91 million, a figure modest in comparison to incumbents such as Lido, yet reflective of a focused niche market. The average yield of roughly 5.15 % underscores the trade‑off between liquidity provision and market depth, given the relatively shallow SDL liquidity pool. Additionally, the risk profile warrants careful consideration: smart‑contract vulnerabilities, regulatory scrutiny following precedents set by the SEC’s actions against analogous platforms, and the concentration of assets on Ethereum which may incur elevated gas costs during periods of network congestion. Prospective users should therefore conduct thorough due diligence, scrutinising audit reports and monitoring forthcoming regulatory guidance. The roadmap’s indication of expansion into assets such as SOL and AVAX suggests a strategic intent to diversify beyond the Chainlink‑centric paradigm. Nonetheless, the protocol’s long‑term viability remains intrinsically linked to the sustained demand for Chainlink’s oracle services. In summary, while stake.link offers a compelling utility for LINK holders seeking liquidity, the modest liquidity and emerging risk vectors necessitate a balanced assessment prior to capital allocation. Stake.link also encourages community participation through educational webinars, fostering a deeper understanding of liquid staking mechanics among novice users. Ultimately, the platform’s success will depend on its ability to maintain transparent operations and adapt to the evolving regulatory landscape.
Amy Kember
stLINK is just a wrapper around locked LINK it lets you move assets around quickly but you still earn the same rewards the trade‑off is the extra layer of smart‑contract risk and a tiny fee on each operation. Use it if you need flexibility, otherwise plain LINK works fine.
Evan Holmes
Looks messy.
Isabelle Filion
Indeed, the elegance of stake.link’s architecture is rivaled only by its uncanny ability to masquerade complexity as simplicity, a feat that would impress even the most stoic of condescenders.
Anna Kammerer
Alright, let’s cut through the jargon. Stake.link essentially gives you a liquid receipt for staked LINK, called stLINK, which you can then use anywhere ERC‑20 tokens are accepted. The native SDL token isn’t just a governance badge; by staking it you also tap into the platform’s fee revenue, creating a modest passive income stream. Keep in mind the liquidity pool for SDL is still shallow, so moving large sums may cause noticeable price slippage. If you’re comfortable with Ethereum gas fees and the inherent smart‑contract risk, this can be a convenient way to keep your assets active while still earning staking rewards.
BRIAN NDUNG'U
It is commendable that you have identified the core mechanisms of stake.link, and I would like to emphasize the importance of diligent risk assessment prior to engagement. Users should evaluate gas cost fluctuations, audit credibility, and the evolving regulatory environment to ensure informed participation.
Donnie Bolena
Absolutely!!! The potential upside is exciting!!! Even with gas fees and audit considerations, the ability to keep LINK liquid while earning rewards is a game‑changer!!! Just make sure to stay updated on the latest protocol announcements!!!