Stride operates a multichain liquid staking platform that allows users to stake native tokens and receive liquid staked tokens in return, enabling them to earn staking rewards while maintaining liquidity. This platform addresses the issue of locked assets in traditional staking by allowing users to trade, lend, or use their staked tokens in decentralized finance applications without losing the benefits of staking rewards.
Funding
$10.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
DFounders
Product
Problem
Traditional staking methods require users to lock up their digital assets, preventing them from being used in other decentralized finance (DeFi) activities and limiting their liquidity. This creates an opportunity cost for users who want to earn staking rewards while still maintaining access to their funds.
Solution
Stride is a multichain liquid staking platform that allows users to stake their native tokens and receive liquid staked tokens in return. These liquid staked tokens represent the underlying staked assets and can be freely traded, lent, or used in DeFi applications, all while continuing to accrue staking rewards. By unlocking the liquidity of staked assets, Stride enables users to optimize their rewards and participate more actively in the DeFi ecosystem without sacrificing staking benefits. The platform supports a variety of tokens from different blockchains, providing a comprehensive liquid staking solution for the Cosmos ecosystem.
Target Audience
Stride primarily targets users within the Cosmos ecosystem who are looking to maximize the utility of their staked assets by participating in DeFi activities without losing staking rewards.
Features
- Liquid staking for multiple Cosmos-based tokens (e.g., TIA, DYM, ATOM, OSMO)
- Users receive liquid staked tokens (LSTs) representing their staked assets (e.g., stATOM)
- LSTs can be used in DeFi applications while still earning staking rewards
- Non-rebasing LSTs that appreciate in value against the underlying staked token
- Interchain security provided by Cosmos Hub, enhancing the platform's security
- IBC rate-limiting to mitigate potential security incidents
- Governance via the STRD token, allowing stakers to vote on protocol changes
- Completed multiple security audits from firms like Informal Systems, Oak Security, and Certik