The Stride Briefing is the easiest way to keep abreast of all things Stride! On a bi-weekly basis, the Briefing will concisely inform you of: recent Stride events, future Stride events, and provide current stats on Stride’s various Osmosis liquidity pools. The Stride Briefing will also serve to get newcomers up to speed.
Briefing #13, let’s go!
What is Stride?
Stride is a Cosmos-wide liquid staking provider. Using Stride’s liquid staking, you can earn staking rewards from Cosmos proof-of-stake tokens without having to stake them. Since your tokens remain liquid, you can deploy them in DeFi. This means you no longer have to choose between staking yield and DeFi yield. Thanks to Stride, you can have both at once.
Tokens supported: ATOM, OSMO, JUNO, STARS, LUNA, EVMOS, INJ, UMEE, CMDX, IBCX, SOMM
Notable Recent Happenings
The much anticipated liquid staking module (LSM) went live on the Cosmos Hub last week. Amongst other important safety features, the LSM allows ATOM stakers to convert their staked ATOM into stATOM for the first time ever. This marked a momentous occasion for the Cosmos. You can find out how to liquid stake your staked ATOM in just three easy steps here.
The Stargaze community approved a governance proposal that called for the 246,805 OSMO in the Stargaze Community Pool to be liquid staked as stOSMO. The OSMO had been in the community pool since genesis. It had been untouched, and as such missed out on roughly 150k OSMO of staking rewards. By liquid staking the OSMO, the Community Pool can earn staking rewards on the OSMO, ensuring that their tokens aren’t devalued by inflation. The Community Pool will also retain control of the funds, as the stOSMO will be in the Stargaze Community Pool.
The Juno Community Pool has deployed 2M additional Juno from the community pool to the stJUNO/JUNO pool on Osmosis. This brings the total POL to 3M Juno, and deepens the liquidity in the pool to allow raising the stJUNO cap on the Umee money market.
A recent proposal on the Mars governance forum advocates for increasing the stATOM cap on the Red Bank from 200,000 stATOM to 350,000 stATOM. This comes as the stATOM cap of 200,000 has been filled, and preempts the increased demand for stATOM with the Liquid Staking Module having gone live.
Stride is excited to be attending and speaking at Cosmoverse, which will take place in Istanbul from October 2 - 4, 2023. Stride debuted on stage at the last Cosmoverse, and is excited to be taking the stage again in this year’s event, both to recap an incredible year and more importantly to talk about the future. Stride will also have two booths at the event, so please come meet the team if you are there!
Stride Liquidity Pool Incentives Guidance
Stride is currently in the middle of a 30 Day Liquidity Incentives Program which began on August 5th. You can read more about the program here, but a summary of the current liquidity incentives is below.
That's all for now! Follow Stride on Twitter for real-time updates.