Summary
-250,000 STRD to be airdropped to stDYM holders
-Snapshots starting today and continuing for 120 days
-STRD claimable 150 days after the date it was allocated
-To be eligible on day one, stDYM must be on Dymension or Stride
-stDYM provided as liquidity on Dymension DEX also eligible
-The stDYM/DYM pool will have normal STRD incentives as well
-stDYM on Osmosis to become eligible for airdrop on March 18th
stDYM airdrop
With the launch of stDYM, Stride is transcending to a higher dimension! Visit the Stride app to mint stDYM.
In order to introduce users to Stride and bootstrap liquidity, stDYM will have a continuous airdrop for the first 120 days post launch. Very similar to the ongoing stTIA airdrop.
Over the next 120 days, 2,083 STRD per day will be allocated to stDYM held on Stride or Dymension. That’s a total of 250,000 STRD. stDYM provided as liquidity in the Dymension DEX stDYM/DYM pool will also be eligible. Users don’t have to take an action to be allocated STRD every day - just hold your stDYM on Dymension or in the pool.
Allocated STRD will be claimable 150 days after the day it was allocated. So today’s STRD will be claimable 150 days from today, tomorrow’s STRD will be 152 days from today, the day after will be claimable 153 days from today, and so forth. A rolling daily allocation followed by a rolling daily claim.
After becoming claimable, users will have 180 days to claim their STRD.
A user interface (UI) for checking your allocated STRD in the stDYM airdrop, similar to the UI for the stTIA airdrop, will be available within a month. The stDYM airdrop UI is not available now. For now, users may check their allocated STRD by checking the raw data on the Stride Github.
Eligible locations
To be very clear, currently only stDYM held on Stride or Dymension is eligible for the stDYM airdrop. This includes stDYM in the stDYM/DYM pool on Dymension DEX.
stDYM held on any other chain will not currently receive the airdrop.
On Monday, March 18th Osmosis will be whitelisted and thus stDYM on Osmosis will be eligible for the stDYM airdrop. This includes stDYM in the forthcoming stDYM/DYM pool. One other chain will potentially be whitelisted on Monday as well.
Also, if significant Dymension L2s launch within the 120 day period of the stDYM airdrop, the L2 developers may wish to collaborate with Stride developers to extend stDYM airdrop eligibility to their chain.
As it stands, today only the Dymension and Stride chains are eligible for the stDYM airdrop.
Bridging DYM to Stride
When you visit app.stride.zone to mint stDYM, you’ll notice it prompts you to use the Dymension Portal IBC bridge interface.
IBC stands for inter-blockchain communication protocol, and it’s the Cosmos native bridge. Simply click the link and proceed to the Dymension Portal app.
On the Dymension Portal app, connect your Cosmos wallet and transfer to Stride. If you use an EVM wallet, such as MetaMask, to interact with Dymension, then you’ll need to use a Cosmos wallet to receive DYM on Stride, as Stride does not support MetaMask.
Then once you’ve bridged, hop back to the Stride app. Once you’ve connected with your Cosmos wallet, then you’ll see your DYM. Then liquid stake.
If you’d like to move your stDYM back to Dymension to LP in the liquidity pool, then use the Dymension Portal IBC interface to bridge back.
About Dymension
Dymension is a Cosmos L1 blockchain that offers roll-up-as-a-service (RaaS). Many L2 blockchains - called rollapps - are expected to launch on top of Dymension, using the Dymension chain for settlement and consensus. In addition, Dymension has an enshrined DEX and functions as a bridging hub for Dymension L2s. Dymension L2s can either use Celestia or Avail for data availability.
Users stake DYM to secure the chain, participate in governance, and receive rewards. Also, there’s the added benefit of likely receiving airdrops from projects that launch on Dymension. But to enjoy all these benefits, DYM must be staked. And the unstaking period is 21 days.
But now that Dymension has liquid staking, users can get most of these benefits without staking. Secure the chain, receive rewards, and even potentially get airdrops - all without having to stake. That’s stDYM.
About Stride
Stride is the largest liquid staking provider in both the Cosmos ecosystems and Celestia’s burgeoning modular ecosystem, with the largest LSTs for TIA, ATOM, OSMO, DYDX, and many more.
Since its launch in 2022, Stride has always prioritized security above all else. With open source code, multiple full audits, IBC rate limiting, and interchain security - Stride is by far the most secure liquid staking provider for Cosmos and modular chains.
With the addition of stDYM, Stride supports 13 different LSTs, with DeFi integrations on all major Cosmos chains.
Stride protocol diverts 8.5% of staking rewards of all liquid staked tokens to staked STRD. Stride TVL is at $175M - and growing fast!
Final thoughts
The future of Dymension is bright!
In recent days, three separate rollapps have proposed launching on Dymension: Aigisos, Nim, and Dogmond. If approved by Dymension governance, these rollups will launch and use Dymension as settlement and consensus, and their tokens will trade on the Dymension DEX. Many more rollups are expected to follow.
The launch of liquid staking brings increased efficiency to DYM. Using stDYM, users can secure the chain, earn staking rewards, and potentially receive airdrops - all while staying liquid and not having to stake.