β’ Deposit $ATOM with Stride to mint $stATOM
β’ Use stATOM to redeem staked ATOM
The Stride token, which weβve re-named $STRD, is NOT required to pay transaction fees on the Stride chain. Transactions are currently free.
3/7 Over the next 24 hours, we will launch and seed two liquidity pools on @OsmosisZone.
β’ STRD / OSMO
β’ stATOM / ATOM
The stATOM pool will be incentivized with STRD rewards.
4/7 Strideβs full launch today will be followed by a number of rapid updates over the following weeks and months.
The airdrop for ATOM stakers will be claimable after Strideβs first post-launch update, expected at the end of September.
5/7 In the very near future, Stride will on-board @OsmosisZone and @JunoNetwork, and OSMO and JUNO stakers will receive their STRD airdrop.
Due to missing ICA implementation, Stride will not be able to support these chains until their next updates. Approximate time: 2-5 weeks.
6/7 A note on the Switching Cost Rebate Program:
Since users have to unstake their tokens to liquid stake them with Stride, the Program will compensate users for missed staking rewards during their unstaking period. The program will run for a number of months.
7/7 Today is a historic occasion. No longer do ATOM holders have to choose between trading / DeFi and staking rewards.
2/7 Stride equally values both community and professionalism.
Stride is giving away 50% of its token supply. But at the same time, Stride Labs has a $6.7 million treasury, which enables it to spend big on security.
3/7 Stride has already received separate audits from @CertiK and @SecurityOak.
But since you can never be too careful, Stride will have another third-party audit to coincide with its launch.
Post-launch, Stride will be audited on an on-going basis.
1/8 With Stride launching in just a few weeks, it's time to fully reveal the tokenomics of $ST.
50% of the ST total supply will be given to the communities Stride serves, through airdrops, incentives, staking rewards, etc.
Why is Stride giving away so much!?! π§΅π
2/8 As a liquid staking provider, Stride is expected to become a pillar of Cosmos DeFi. With such an important role, it's critical that no one group has too much control over Stride.
This is why 50% of ST tokens are being distributed to the communities Stride serves.
3/8 But professionalism is important, too.
In its seed round, Stride Labs sold 16.7% of ST total supply to raise a treasury of $6.7 million.
This treasury means Stride has talented contributors, a high security budget, and a runway in case the bear market drags on.