In an exhilarating stride towards a more interconnected blockchain universe, the Cosmos Hub community has officially voted to welcome Stride into the ATOM Economic Zone. The integration was approved via Cosmos’ decentralized governance system, reflecting an exciting consensus within the community. This monumental move will also see Stride adopting the Interchain Security model, a testament to Cosmos’ commitment to fostering a secure and interconnected blockchain environment.
Cosmos Hub Brings Liquid Staking Zone: Stride
Cosmos, a network of interconnected blockchains or ‘zones,’ has been at the forefront of redefining the blockchain landscape. The Cosmos Hub, its flagship blockchain, is built on the innovative Tendermint consensus protocol and Cosmos SDK. It enables the interoperability of multiple blockchains, facilitating seamless communication and transaction execution.
Stride functions as a sovereign blockchain “zone” that facilitates the liquidity of staked tokens. Through its utilization, users have the advantage of reaping both staking and DeFi yields spanning the entire Cosmos IBC ecosystem. Stride makes it possible for users to stake their tokens with liquidity on any Cosmos chain, receiving staked tokens instantly. Holders of these staked tokens continually accumulate rewards in real time. Once staked, these tokens can be traded at will and redeemed at any point through Stride to get back the native tokens in addition to the staking rewards.
On the administrative end, Stride autonomously stakes these tokens on the main chain and cyclically multiplies the user rewards. Users persist in earning a staking yield and have the potential to gain additional yield by lending, and becoming liquidity providers, among other actions.
Users are always entitled to redeem from Stride. Upon redemption, Stride sets off the unbinding process on the host zone. After the unbinding period has passed, users receive the native tokens directly into their wallets.
The protocol for introducing new chains is straightforward; any member can propose the inclusion of a new chain through a governance vote. A successful vote results in the automatic onboarding of the new chain.
Stride Secures ATOM Economic Zone
Stride, an ambitious blockchain project, has earned its spot in the ATOM Economic Zone following a meticulous vetting process and the subsequent approval from the Cosmos Hub governance. It marks a significant milestone in the expansion of the Cosmos ecosystem and is expected to inject fresh dynamism into the ATOM Economic Zone.
Stride, known for providing liquidity for staked tokens, will contribute 15% of liquid staking rewards, 15% of STRD inflationary staking rewards, 15% of MEV revenue, and 15% of transaction fees to Cosmos Hub as a part of its integration. The ‘liquid staking rewards’ will consist of tokens from various chains that Stride supports on their platform, including ATOM, OSMO, STARS, JUNO LUNA, EVMOS, and INJ.
This revenue will be shared with ATOM stakers, further enhancing the rewards for the Cosmos community. In addition, Stride’s adoption of Cosmos’ Interchain Security model will enhance its security posture, benefiting both Stride users and the broader Cosmos ecosystem.
Stride’s integration is expected to open new avenues for collaboration due to its neutral stance, focusing solely on providing a liquid staking service. With this move, Stride is set to create a strong synergy with the Cosmos Hub, potentially extending it to the ATOM Economic Zone and beyond to the broader Interchain.
The integration of Stride into the ATOM Economic Zone, along with its adoption of the Interchain Security model, marks a robust development. This reaffirms Cosmos Hub’s commitment to fostering an inclusive, innovative, and secure blockchain environment and contributing to its mission of offering Interchain services. As more projects like Stride join the ATOM Economic Zone, Cosmos continues to play a pivotal role in shaping the future of blockchain technology.