The Stride Briefing is the easiest way to keep abreast of all things Stride! On a semi-weekly basis, the Briefing will concisely inform readers of: recent Stride events, future Stride events, and provide current stats on Stride’s various Osmosis liquidity pools. The Stride Briefing will also help new-comers get up to speed.
Briefing #2, 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, (INJ support coming in November)
Have questions? Check out Stride’s thorough FAQ, or join the Stride Discord.
Notable Recent Happenings
Harbor Protocol, which is an up-coming over-collateralized stablecoin issuing protocol on Comdex, announced an airdrop of its governance token, HARBOR, to liquidity providers to the Osmosis stATOM pool. Snapshot was taken on October 24th. This airdrop is in recognition of the fact that stATOM will be one of the main collateral tokens for minting the Comdex stablecoin.
Stride on-boarded Osmosis and launched stOSMO:
Stride is the only liquid staking provider to support OSMO. Deposit OSMO with Stride to mint stOSMO, deploy stOSMO in DeFi to earn staking yield plus DeFi yield.
On October 26th, Stride blockchain received the Orion upgrade. This upgrade enabled Ledger support, and also made it possible for governance to adjust host-chain validator sets.
Several wallets enabled support for the Stride blockchain, making Stride now more accessible than ever. Access the blockchain with Keplr, desktop or mobile; Leap; and CosmoStation Wallet.
Stride podcast with Citadel One:
Vishal, a Stride co-founder, discussed Stride’s unique approach to liquid staking.
On October 28th, a townhall-style discussion was held between several liquid staking providers. A recording is available through the link.
Up-coming Things
Stride various STRD airdrops will all be claimable November 22nd. Stakers of ATOM, OSMO, JUNO, STARS, and INJ will all receive STRD. For full details, read the updated airdrop article.
Stride on-boarding Injective, launching stINJ:
At some point in November, Stride will be on-boarding Injective. Stride will become the first liquid staking provider to support INJ.
Demex is a decentralized exchange on the Carbon blockchain. In November, Demex will be launching Nitron, a new money market. stATOM will be available as a collateral option on Nitron. What’s more, Nirton will also issue an over-collateralized stablecoin, for which stATOM will also be used as collateral.
Stride Liquidity Pool Statistics
The following data is current as of November 2nd, 16:00 UTC. Total APR given includes: all incentives; swap fees; and staking rewards earned by the stToken side of the pool.
stTOKEN/TOKEN pools give constant 100% exposure to a single token, meaning they have effectively no impermanent loss. In terms of risk, this makes providing liquidity for these pools basically the same as staking. But as you can see, the yields for LPing in Stride’s pools is almost always significantly higher than staking.
Pool Links:
ATOM/stATOM: https://frontier.osmosis.zone/pool/803
stOSMO/OSMO: https://frontier.osmosis.zone/pool/833
STRD/OSMO: https://frontier.osmosis.zone/pool/806
JUNO/stJUNO: https://frontier.osmosis.zone/pool/817
STARS/stSTARS: https://frontier.osmosis.zone/pool/810
Stride Liquidity Pool Guidance
In order to be useful to DeFi applications, Stride’s stTokens need deep liquidity. Liquidity is incentivized with STRD and OSMO. Stride uses short-duration incentive gauges. Doing so provides more flexibility as opposed to long-term gauges. To be clear, Stride mainly wants the flexibility to easily add more incentives when necessary.
In order to give liquidity providers some assurance that Stride is committed to continually renewing its incentive gauges, Stride provides the following guidance:
1. If Stride wants to decrease the STRD per day incentive rate for any of its liquidity pools, Stride will always provide at least three weeks’ notice.
2. According to current expectations, it is highly unlikely that Stride will decrease the STRD per day rates for the stATOM pool or the stOSMO pool. Current incentives for those two pools are expected to be continually renewed for at least a year. Strategically, these are the two most important pools.
That's all for now, folks! Follow Stride on Twitter for real-time updates.