November 16, 2022
Stride Briefing: Third Edition
The Stride Briefing is the easiest way to stay up to date on all things Stride! The bi-weekly briefing provides succinct updates on current Stride events and future Stride events, and provides up-to-date statistics on Stride’s various osmosis liquidity pools. The stride briefing also serves to familiarize newcomers.
Briefing #3, let’s go!
What is stride?
Stride is a Cosmos-wide liquid stakes provider. Stride’s smooth staking allows you to earn staking rewards from Cosmos Proof-of-Stake tokens without having to wager them. Since your tokens remain liquid, you can use them in DeFi. This means you no longer have to choose between stake return and DeFi return. Thanks to Stride, you can have both at the same time.
Supported tokens: ATOM, OSMO, JUNO, STARS
Have questions? Check out Stride’s in-depth FAQ or join the Stride Discord.
Notable Current Events
FTX Blast:
As we all know by now, FTX has collapsed and the crypto industry is spreading. Stride Labs has no affiliation with FTX or any of its affiliates. Stride Labs tills were not impacted in any way.
Stride’s Host Chain Validator Election Plan:
Stride has started selecting its Cosmos Hub validator set, i.e. the validators on the hub that Stride will use to delegate its users’ ATOM. Validator applications and advisory board member applications are currently being accepted. Application deadline is November 27th!
Proposal for Allocation of Stride Protocol Revenue to STRD Stakers:
A community member suggested in a forum post that all Stride earnings should be forwarded to STRD stakers to secure the blockchain. Stride charges a 10% fee on the wager return of all deposited tokens. This is a stable, reliable and significant source of income. If passed to stakers, it would make STRD staking much more attractive.
Twitter Spaces on stOSMO:
Members of the osmosis community gathered to listen to a discussion about stOSMO. This concise, well-structured Twitter Space covers: why liquid staking matters, how liquid staking will help mature Cosmos DeFi, the risks liquid staking poses, and how stOSMO could be the future of the OSMO token.
Things to come
Huge STRD Airdrop:
On November 22nd, the long-awaited Stride airdrop will take place. Stride-backed token stakers, testnet participants, and anyone who has deposited into Stride will receive an airdrop. In some cases, the discard is fixed and/or requires task completion. All details here.
stOSMO pool incentive prop coming soon:
The Osmosis Governance Forum has discussed a recent proposal to add OSMO incentives to the stOSMO/OSMO liquidity pool. Expect an on-chain vote to take place shortly.
Stride Onboarding Injection:
Sometime in November (or maybe early December?) Stride will join the Injective chain and launch stINJ. There will be a liquidity pool on Helix (Injective’s leading DEX) as well as a usual airdrop for INJ stakers.
Statistics on Stride liquidity pools
The following data is current as of November 16, 14:00 UTC. The APR shown includes: all incentives; swap fees; and staking rewards earned from the stToken side of the pool.
stTOKEN/TOKEN pools provide constant 100% availability of a single token, which means they experience virtually no temporary loss. In terms of risk, providing liquidity to these pools is basically the same as staking. But as you can see, returns for LPing in Strides pools are almost always significantly higher than for staking.
stOSMO pool still with 3x return on investment. Pretty!
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 Guide
To be useful for DeFi applications, Stride’s stTokens need high liquidity. Liquidity is promoted with STRD and OSMO. Stride uses short-term incentive gauges. This offers more flexibility compared to long-term measuring devices. To be clear, what Stride wants most is the flexibility to easily add more incentives as needed.
To reassure liquidity providers that Stride strives to continually innovate its incentive benchmarks, Stride offers the following guidance:
1. If Stride wishes to decrease the STRD incentive rate per day for any of its liquidity pools, Stride will always provide at least three weeks’ prior notice.
2. Based on current expectations, it is highly unlikely that Stride will lower STRD daily rates for either the stATOM pool or the stOSMO pool. The current incentives for these two pools are expected to be continuously renewed for at least a year. Strategically, these are the two most important pools.
That’s all for now!
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