What is Stride Coin (STRD)?
Stride revolutionizes Cosmos by introducing a groundbreaking blockchain dedicated to providing liquidity for staked tokens. Seamlessly integrating with any Cosmos chain, Stride enables users to earn staking and DeFi yields simultaneously within the Cosmos IBC network.
Users instantly access staked tokens through Stride, with real-time rewards enhancing their value. These tokens are freely tradable, and users can redeem them at their convenience, receiving native tokens and staking rewards.
Behind the scenes, Stride autonomously stakes users’ tokens on the host chain, compounding rewards. This user-centric platform simplifies the redemption process, ensuring users have control over their assets.
Stride’s governance vote mechanism streamlines the onboarding of new chains, fostering continuous expansion within the dynamic Cosmos ecosystem. With a vision for rapid growth, Stride aims to redefine decentralized finance across Cosmos chains.
The Mission of Stride Coin
Stride is committed to revolutionizing the liquid staking experience in the Cosmos ecosystem, prioritizing user safety in DeFi. With a team boasting backgrounds in quant finance, DeFi, product development, and engineering, Stride focuses on three key principles: maintaining DeFi safety as a top priority, positioning stTokens as the fundamental asset in Cosmos DeFi, and offering users a simple and integrated app UX for a seamless experience in liquid staking and DeFi activities.
Stride Coin Technical Architecture
High-Level System Design
Staking Process:
- Users can seamlessly stake tokens on Stride across various Cosmos chains, ensuring a flexible and efficient staking experience.
- Real-time reward accumulation with no minimum requirement.
- Immediate receipt of staked tokens upon liquid staking.
- Staked tokens are freely tradable and redeemable at any time with Stride.
Backend Operations:
- Stride seamlessly automates the staking process, ensuring user tokens are effortlessly staked on the host chain.
- User rewards are compounded on the backend.
- Users can compound yields through various applications using staked tokens.
- Redemption is initiated through Stride, leading to unbonding on the host zone.
In-Depth System Design
Staking Execution:
- Epoch n: New DR creation, LiquidStake, and stToken minting.
- Epoch n+1: IBC transfer of tokens, reward withdrawal.
- Epoch n+2: Staking of tokens, automatic 6-hour reinvestment.
Unbonding Process:
- Daily creation of EpochUnbondingRecord and HZU update.
- Tokens transferred to Redemption ICA after the unbonding period.
- Claimable tokens via UserRedemptionRecord (URR) update.
Liquid Staking Execution
- Regular bank transfers initiate withdrawals and deposits.
- Liquid staking involves IBC transfers, stToken minting, and token transfers to the user account.
Staking & Reinvestment:
- DR sweeping and delegation to validators.
- Automatic reward distribution to Withdrawal ICA.
- Reinvestment involves allocating 90% to Delegation ICA and 10% to Fee ICA, contributing to network operations and development initiatives.
Interchain Accounts (ICA)
- Various paths lead to ICA’s SendTx, involving staking, unstaking, and record sweeping.
- RegisterInterchainAccount during host zone registration and channel reopening.
- IBCTransfer for sweeping existing deposits from Stride to Host Zones.
What is Cosmos?
Cosmos operates as a decentralized network of independent blockchains, utilizing a Proof-of-Stake consensus mechanism. With a focus on scalability and interoperability, Cosmos allows blockchains, referred to as “zones,” to connect and authenticate activities through “light clients.” The ecosystem resembles modular Lego blocks, collaborating for enhanced functionality.
Stride, a Cosmos zone, leads in connectivity by using IBCv3 for seamless communication and interoperability with other chains. Pioneering technologies like Interchain Accounts and Interchain Queries, Stride advances blockchain interactions within the Cosmos ecosystem.
What is Stride (STRD) Coin (Liquid) Staking?
Stride introduces liquid staking, a groundbreaking concept in Cosmos that makes staked tokens flexible. Unlike traditional proof-of-stake mechanisms, liquid staking allows users to trade, lend, or provide liquidity with staked tokens while still earning staking yields. This flexibility resembles a checking or brokerage account, combining usability with the higher yields of savings accounts.
In PoS blockchains like Cosmos, staking involves locking tokens to enhance network security, earning staking rewards. However, staked tokens are typically illiquid, limiting their use in other applications. Liquid staking addresses this challenge, enabling staked tokens to remain staked while being utilized in various applications simultaneously.
With high staking yields in Cosmos, users often face an opportunity cost when considering alternative applications. Liquid staking eliminates this competition by allowing users to stake tokens, earn rewards, and maintain control for trading, lending, or providing liquidity.
liquid staking provides the flexibility of a checking or brokerage account alongside the higher yields of a savings account, paving the way for a productive DeFi ecosystem in Cosmos.
| Feature | Description |
|---|---|
| Liquid Staking | Stride coin introduces liquid staking in Cosmos, providing flexibility for users to trade, lend, or provide liquidity with staked tokens while earning yields. |
| Flexibility | Resembling a checking or brokerage account, Stride Coin’s liquid staking combines usability with the higher yields of savings accounts. |
| Use in Apps | Stride coin ensures staked tokens remain staked but can be utilized in various applications simultaneously, overcoming typical illiquidity. |
| Opportunity Cost | Liquid staking by Stride coin eliminates opportunity costs, enabling users to stake tokens, earn rewards, and maintain control for trading or lending. |
| DeFi Ecosystem | Stride coin paves the way for a productive DeFi ecosystem in Cosmos, offering flexibility akin to a checking or brokerage account. |
Key Takeaways of Stride Coin
- Liquid Staking Pioneer: Introduces groundbreaking liquid staking, enabling trading, lending, and liquidity provision with staked tokens while earning staking yields.
- User Autonomy and Control: Stride Coin autonomously stakes users’ tokens, compounding rewards, and simplifying redemption for enhanced user control over assets.
- Efficient Governance Mechanism: Streamlined governance vote mechanism accelerates onboarding of new chains, fostering continuous expansion within the dynamic Cosmos ecosystem.
- Cosmos Interoperability Leader: As a Cosmos zone, Stride leads in connectivity, utilizing IBCv3 for seamless communication and interoperability with other chains.
- Mission-Driven Principles: Stride Coin prioritizes revolutionizing the liquid staking experience, focusing on DeFi safety, establishing stTokens as a fundamental asset, and offering a user-friendly app experience.
Stride Coin (STRD) Tokenomics
- Circulating Supply: 87,825,728 STRD
- Total Supply: 87,826,193 STRD
- Max. Supply: 100,000,000 STRD
- Fully Diluted Market Cap: $653,228,220
Stride Coin (STRD) Allocation
| Category | Allocation |
|---|---|
| Community Incentives | 31.00% |
| Core Contributors | 24.20% |
| Partners | 16.70% |
| Strategic Reserve | 8.90% |
| Community Airdrop | 6.30% |
| Staking Rewards | 5.20% |
| Community Growth | 3.50% |
| Initial Security Budget | 2.20% |
| Community Reserve | 2.00% |
Source: stride coin-tokenomics
Conclusion
Stride emerges as a pivotal force in the dynamic Cosmos ecosystem, boasting an innovative liquid staking approach and a resilient governance structure. The realization of its full potential rests on a delicate interplay of factors, including the ever-shifting landscape of market trends, continual technological advancements, and the vibrant engagement of its community.
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