Stride Briefing: Eighth Edition
May 31, 2023
· 3 min read
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 new-comers up to speed.
Briefing #8, 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
Have questions? Check out Stride’s thorough FAQ, or join the Stride Discord.
Notable Recent Happenings
Juno Protocol Owned Liquidity Proposal has Passed
The Juno community has voted to deploy 1M JUNO from the community pool to the stJUNO/JUNO stableswap pool on Osmosis. The ultimate goal behind this proposal is to create sufficient liquidity depth in the pool such that stJUNO can be approved as collateral on the Umee money market. The proposal passed with over 93% voting “Yes”. You can find the details of the proposal here.
UMEE token holders can now liquid stake UMEE with Stride in exchange for stUMEE. This integration makes UMEE the eighth chain for which Stride supports liquid staking, and is a notable step in the direction of making the Umee blockchain more economically secure, while preserving token utility. You can find the ATOM/stUMEE pool on Crescent here.
The ION DAO has voted to launch liquid staked IBCX with Stride. stIBCX will be a liquid staked version of IBCX, ION DAOs index token, which provides holders with overall exposure to the Cosmos Ecosystem. When holders liquid stake IBCX, the IBCX protocol will swap the constituent tokens for their liquid staked counterpart on Osmosis. If Stride does not support an IBCX constituent token, stIBCX will simply be swapped for native tokens. You can read an in detail explanation of stIBCX and the proposal here
Upcoming Things
stJUNO possibly coming to Umee
A proposal on the Umee governance forum advocates for listing stJUNO as a collateral asset on the Umee cross-chain money market. The proposal follows JUNO being listed as a collateral asset on Umee, as well as another recently-passed proposal on the Juno governance forum which meas 1M JUNO will be deployed to the stJUNO/JUNO stableswap pool on Osmosis (see above). If the Umee community votes in favor of the proposal, users will be able to borrow against their stJUNO on Umee.
Mars stATOM farm vault raising its cap
The Mars community has voted to increase the cap for the stATOM/ATOM farm vault from 1.5M axlUSDC to 3M axlUSDC. When this change takes place, it will take aggregate stATOM exposure on Mars to roughly 30% of stATOM’s on-chain liquidity. You can read more about the proposal here.
A new Osmosis incentives proposal for LSTs
A new proposal on the Osmosis governance forum calls for the introduction of a new incentives category for Liquid Staked Tokens. The proposal would allocate 5% of Osmosis incentives to liquidity pools containing LSTs in order to help maintain functional and healthy liquidity for LSTs on Osmosis. You can find the text of the proposal here, and can vote on-chain here.
Stride Liquidity Pool Incentives Guidance
Stride is nearing the end of a 60 Day Liquidity Incentives Program. In summary, this brings the daily incentive rate to 7,100 STRD. Here is what the breakdown of stToken incentives currently look like:
Once this program ends on June 6th, Stride will launch a new 30 day liquidity incentive program. While you can find detailed information in the relevant blog post, here is a summary of the liquidity incentives as per the 30 day incentive program beginning June 7th:
That's all for now! Follow Stride on Twitter for real-time updates.
