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 #12, 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
Have questions? Check out Stride’s thorough FAQ, or join the Stride Discord.
Notable Recent Happenings
Stride now supports liquid-staking Sommelier Finance’s SOMM in exchange for stSOMM. This makes stSOMM the 11th LST supported by Stride. Users can mint stSOMM on the Stride app and trade stSOMM for SOMM and vice versa in the stSOMM/SOMM liquidity pool on Osmosis. Additionally, stSOMM will soon likely be added as collateral on Umee as well as Demex’s Nitron money markets. Subject to a snapshot taken on August 22nd, 2023, SOMM stakers will be airdropped STRD. The airdrop is expected to take place in September.
Neutron’s Mars Supports stATOM
The Mars outpost on Neutron now supports stATOM as a collateral asset. This means that users can now borrow against their stATOM on Neutron. This integration complements the deep stATOM/ATOM liquidity on Neutron’s Astroport instance and positions stATOM at the center of Neutron DeFi.
Upcoming Things
Proposal To Increase stJUNO POL
A recent proposal on the Juno forum advocates for deploying 2M additional Juno from the community pool to the stJUNO/JUNO pool on Osmosis. The proposal comes as the stJUNO deposit cap on the Umee money market is maxed out. This means that the maximum threshold for using stJUNO as collateral has been reached. While this calls for raising the caps on Umee, it is important to ensure sufficient liquidity in order for the caps to be raised safely. Thus, the proposal calls on the community to deploy 2M additional Juno of Protocol Owned Liquidity. The proposal should be on governance soon.
Cosmos Hub Liquid Staking Module Coming September
The upcoming Cosmos Hub v12 upgrade will include the Liquid Staking Module (LSM), which proposes a safe path to increase capital efficiency on the Cosmos Hub. LSM has three main features that contribute to the security and capital efficiency of the Hub. The first feature creates a cap that prevents liquid staking providers from holding more than 25% of staked ATOM. This measure increases the security of the chain, as it prevents Liquid Staking providers from controlling more than the 33% threshold required to attack the chain. The second feature requires validators who wish to receive liquid staking delegations to self-bond ATOM, in order to disincentivize malicious action. Thirdly, and most importantly, LSM allows stakers to convert staked ATOM to liquid-staked ATOM instantly, without having to unbond or forfeit staking rewards. Once implemented, users who currently have staked ATOM will be able to convert this to stATOM directly on the Stride app. To learn more about LSM, you can read the forum post here. The onchain governance proposal can be found here.
Stride Liquidity Pool Incentives Guidance
Stride is nearing the end of a 30 Day Liquidity Incentives Program which began on August 5th. Here is what the breakdown of stToken incentives currently look like:
Once this program ends on September 3rd, 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 September 4th:
That's all for now! Follow Stride on Twitter for real-time updates.