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. We took a brief hiatus from our biweekly cadence, but the Briefing is now back!
Briefing #7, 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
Notable Recent Happenings
Following a similar proposal passing on Stride governance, Stride’s proposal to adopt Interchain Security and join the ATOM Economic Zone was approved by Hub governance, with over 96% of the voters in favor.
These two governance votes were signaling proposals, and have established social consensus among STRD stakers and ATOM stakers for the idea of Stride joining the AEZ and adopting ICS. A series of new Stride and Cosmos Hub proposals will be needed to implement this idea. These last few technical steps should be completed sometime in June.
A recent proposal to introduce an incentive program aimed at bootstrapping liquidity on the Forge DEX passed with 94.78% of the votes in favor. Inferno is a 12 week long incentive program, which will disburse three million EVMOS in aggregate, the majority of which will go towards stEVMOS pools. The full text of the proposal, including a detailed breakdown of incentives, can be found here.
Demex’s money market Nitron now supports lending STRD. This allows STRD holders to lend out their STRD, and gives the Stride DAO governance token additional utility. The current supply cap stands at 110K STRD
Secret Network’s ShadeSwap recently integrated stINJ to their DEX. This means Injective holders can liquid stake their INJ for stINJ, and privately trade it on ShadeSwap. stINJ is the fourth stToken Added to the DEX by ShadeSwap.
The Mars community is currently voting on a proposal to increase the cap for the stATOM/ATOM vault on Mars Farm from 500,000 axlUSDC to 1,500,000 axlUSDC. If approved, this will raise the aggregated stATOM exposure on Mars to around ~15% of stATOM’s on-chain liquidity. You can find the forum post here, and can find the links to vote on the proposal here.
A new proposal on the Osmosis Governance forum advocates for the creation of a new incentives category for ATOM Liquid Staked Tokens, such as stATOM, qATOM and stkATOM. The proposal suggests that Osmosis marginally reduce their incentive allocation for the OSMO/MAJOR and OSMO/MINOR pairs, and allocate 4% of their incentives, or 2,960 OSMO per day, to ATOM LSTs. The proposal argues that this change would help maintain liquidity for ATOM LSTs on Osmosis, in the face of various new DeFi offerings launching. You can read the forum post and contribute to the discussion here. Make sure to vote on the proposal when it goes live Wednesday, May 24th.
A new proposal on the Umee Governance forum suggests increasing the supply cap of stOSMO to three million stOSMO. This proposal comes as the 2m stOSMO supply cap for stOSMO has almost been reached, demonstrating the high demand for stOSMO on Umee. Make sure to read the proposal here, which will shortly be followed by an on-chain executable vote.
Stride Liquidity Pool Incentives Guidance
Stride is currently almost halfway through 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:
For more details and information regarding the incentives program as well as the future of Stride incentives, check out the relevant post on the Stride blog.
That's all for now! Follow Stride on Twitter for real-time updates.