Summary
-5,000,000 STRD (5% of total max supply) to be airdropped to stTIA holders
-Snapshots starting today and continuing for 150 days
->2x bonus for users holding stTIA in the first 60 days
-STRD claimable 6 months after the date it was earned
-To be eligible in the first few days, stTIA must be held on the Stride blockchain
-On Monday, stTIA on certain other chains will also be eligible
-stTIA is modular money
stTIA blitz
We’re doin’ a stTIA blitz, baby!
5,000,000 STRD is truly a massive amount. It’s 5% of the token supply, and it’s being allocated to users who hold stTIA over the next 150 days. This is unprecedented. Never has so much STRD been allocated in such a short period.
Yes, it’s as good as it sounds. No tricks, no fine print, and absolutely no points! All you have to do is hold stTIA, and then every day you get allocated a share of the 5M STRD airdrop. Six months after STRD is allocated, it becomes claimable and fully liquid.
Why pull out all the stops for stTIA? Celestia is the real deal.
Celestia is one of the most exciting and powerful blockchains to ever launch. Between the world-class quality of Celestia core contributors, their pioneering work in data availability, and the passionate community behind them - it’s clear that Celestia is going places.
As the premier liquid staking provider for the Cosmos ecosystem, Stride protocol will now serve Celestia by providing the most neutral and secure TIA liquid staking possible. This massive and unprecedented STRD airdrop will help bootstrap stTIA liquidity and mindshare.
Stride protocol
Stride already has a live token. STRD launched alongside the Stride protocol in September 2022.
Since then, Stride has become the dominant Cosmos liquid staking provider, with 90-95% market share for liquid staked ATOM, OSMO, DYDX, STARS, EVMOS, JUNO, and more. Current Stide TVL is $85M.
Stride protocol redirects 8.5% of staking rewards from all liquid staked tokens to STRD stakers.
Airdrop details
Eligibility
To be eligible, all you have to do is hold stTIA. You can acquire stTIA using the Stride protocol app, or by swapping for it on a DEX. Either way works.
Now, it’s super important where you keep your stTIA. Due to the technical requirement of precise snapshotting, only certain onchain locations for holding your stTIA will be eligible.
In these first few days post-launch, only stTIA held on the Stride blockchain will be eligible for the airdrop. When the daily snapshot is taken for the next few days, your stTIA must be on Stride to be eligible for that day’s airdrop. If it’s somewhere else, you will not be eligible for that day’s rewards.
Starting on Monday February 5th at 10:00 UTC, stTIA eligibility locations will expand to Osmosis and Neutron blockchains. At this time, certain liquidity pools on these DEXes will also be whitelisted for eligibility.
When certain liquidity pools are whitelisted, both the stTIA and the TIA in the pool will be eligible for the airdrop.
We will be whitelisting additional locations and activities throughout the course of the airdrop. We will publicly announce them as we do so.
Allocation schedule
The 150 day airdrop period will be broken up into two phases: phase one and phase two. 5M STRD will be allocated to users holding stTIA according to the following table:
As you can see, during each phase the respective daily allocation is fixed and equally divided per day. Allocation of the total 5M STRD amount is frontloaded in the first 60 days to encourage fast adoption of stTIA, although allocations for the last 90 days remain high.
Each day snapshots are used to determine the addresses holding stTIA in eligible onchain locations. STRD is allocated to addresses pro-rata their stTIA amount. In other words, every day your share of the total eligible stTIA supply determines your share of the daily allocation.
Let’s consider an example. You hold 100 stTIA. Throughout day one, there is a total of 40,000 stTIA. So you held 0.25% of all stTIA on day 1. In the first 60 days, there is 50,000 STRD allocated per day. So your allocation for day 1 is 125 STRD.
Distribution
The STRD airdrop becomes claimable 180 days after allocation. As allocation happens daily, distribution will also happen daily. So 180 days after each day you are allocated STRD, you will be able to claim that STRD. Once claimed, your tokens are fully liquid.
After becoming claimable, users will have 180 days to claim their STRD. If unclaimed after this amount of time, the unclaimed STRD will be returned to the community pool.
Let’s consider an example, continuing from the above scenario. You were allocated 200 STRD on day 1. So exactly 180 days after day 1, you will be able to claim your 200 STRD. There will be a UI on the Stride app for claiming. Once claimed, your STRD is fully liquid. If you were also allocated STRD on day 2, then you will be able to claim that amount of STRD the next day. And so on. You may claim these rewards immediately as they become claimable, or you may elect to defer claiming for 180 days.
Airdrop UI
Tomorrow, once the first snapshot has been taken, a simple user-interface will be provided for users to view their total amount of allocated STRD. It will be accessible from the Stride web app.
stTIA is modular money
For far too long, Cosmos has struggled to drive onchain use of PoS tokens. High staking rewards and the FOMO on potential airdrops to stakers have been incredibly damaging. Why put your ATOM in DeFi when you can earn rewards and airdrops just by staking?
We’re confident that Celestia will chart a different path. As modular money used across many chains, TIA will likely see much stronger demand for LSTs. This would drive more onchain usage and velocity. However, this requires a neutral, secure, and airdrop-inclusive LST for TIA. And today, that token has launched - stTIA.
Envision stTIA as the native token on rollups across the modular world; deep stTIA liquidity on DEXs; stTIA as collateral across DeFi leverage apps; stTIA being used to trade NFTs; DAO treasuries holding stTIA, and much, much more.
stTIA is modular money.
Final thoughts
The perfect way to liquid stake your TIA is finally here! With a whopping 5,000,000 STRD being allocated to stTIA holders over the next 150 days, there’s never been a better time..
If you’re currently staking TIA, you may want to begin the 21-day unstaking process as soon as possible. We extended the rolling airdrop to make it worth your while. For other TIA LST holders, you can swap into stTIA on a DEX to start earning your STRD right away. For anyone holding liquid TIA, you can either swap on a DEX or mint stTIA directly with Stride.
Celestia’s modular ecosystem is one of the most exciting developments ever in Cosmos. With Stride now emerging as the top Celestia liquid staking provider, our next steps will be to provide LSTs for even more modular chains — such as Dymension, Saga, and Initia.
Celestia has ignited a rapid modular expansion, and Stride intends to be right at the center of it. We’re excited for you to join us.