stBGT is a Berachain LST originally issued by Stride (stride.zone), and later acquired by BakerDAO (bakerdao.io). It has a unique economic design where it can only be earning via LPing the stBGT-BERA pool, or by having an active debt position on BakerDAO.

BakerDAO users can access non-liquidateable loans and leverage, and earn passive stBGT rewards whilst having open position in addition to the leverage they can already access with no extra fees.