Stride Staked ATOM PriceSTATOM

What is Stride Staked ATOM (STATOM)?

Stride Staked ATOM (STATOM), also referred to as stATOM, is a liquid staking receipt token that represents staked ATOM on the Cosmos Hub. It is issued through the Stride protocol, a multichain liquid staking zone built on the Cosmos blockchain. When a user deposits ATOM with Stride, the protocol stakes the underlying ATOM and returns stATOM to the user. Unlike conventional staked ATOM, which remains locked and illiquid, stATOM is fully transferable and can be sold, swapped, or deployed across DeFi applications while still accruing staking rewards.

Stride positions itself as a secure minimalist blockchain whose stated mission is to "Optimize your rewards, earn additional yield, stay flexible." The protocol brings liquid staking to all IBC-compatible chains, allowing users to stake any IBC-compatible token and receive stTokens redeemable for the original token at a 1:1 ratio. As of the available data, STATOM has a circulating supply of approximately 987,299 tokens, with a fully diluted valuation of $3.15M. The project launched on 2022-09-04 and operates on the Osmosis platform.

Key Specifications & Tokenomics

• Name: Stride Staked ATOM
• Ticker / Symbol: STATOM (also referred to as stATOM)
• Consensus: Proof of Stake
• Blockchain / Platform: Osmosis platform; Stride is a multichain liquid staking zone (appchain) on the Cosmos Blockchain
• Contract Address: ibc/C140AFD542AE77BD7DCC83F13FDD8C5E5BB8C4929785E6EC2F4C636F98F17901
• Category: Rehypothecated Crypto, DeFi, Osmosis Ecosystem
• Circulating Supply: 987,299 STATOM
• Total Supply: 987,299 STATOM
• Max Supply: Not specified
• FDV: $3.15M
• Inflation: 12.44%
• Staking Reward: 20.89%
• Reward Rate: 15.14% APY
• Benchmark Commission: 10%
• CertiK Rating: 2.7
• Explorers: www.mintscan.io
• Official Website: https://stride.zone/
• Launch Date: 2022-09-04

Who created Stride Staked ATOM?

Detailed public information about the founding team behind Stride Staked ATOM is currently limited in the available materials. What is known is that Stride is a multichain liquid staking zone on the Cosmos blockchain, and the project launched on 2022-09-04. The protocol has undergone extensive security review, completing 10 audits from multiple industry leaders in blockchain security, including seven audits by Informal Systems, two by Oak Security, and one by CertiK at the time of Stride's launch in 2022. These audits cover core functionality, ICA oracle contracts, and the architecture of the MVP. The project maintains an active presence on X (Twitter) at https://twitter.com/stride_zone and engages with the community through its official website at https://www.stride.zone/.

How does Stride Staked ATOM work?

Stride Staked ATOM operates through a liquid staking mechanism. A liquid staked token is a receipt token that represents a staked token. When a user deposits ATOM with Stride, the protocol stakes the ATOM and issues stATOM to the user. Unlike ATOM, stATOM automatically earns staking rewards, and at any time, stATOM may be used to redeem the underlying ATOM.

Stride LSTs are non-rebasing, meaning they constantly appreciate in value against the underlying staked token. Every day, the amount of ATOM that can be redeemed by 1 stATOM increases due to accumulating staking rewards. As of the available data, 1 stATOM equals 1.33 ATOM, and this redemption rate increases daily. The process involves three steps: first, liquid stake by supplying native tokens and receiving Stride staked tokens in return with no waiting and no minimum amount; second, earn compounding staking rewards while also earning additional yield through lending, LPing, and more; third, redeem the native token via the app subject to an unbonding period, or swap staked tokens instantly at the market rate on a DEX. Due to accumulated staking rewards, users receive more native tokens back than they deposited.

What makes Stride Staked ATOM unique and valuable?

Stride Staked ATOM addresses a fundamental problem in Proof of Stake networks: staked tokens earn staking rewards, but the trade-off is that staked tokens are locked and cannot be transferred, sold, or used in DeFi. Liquid staking lets users earn staking rewards without needing to lock their tokens. Through liquid staking, users can transfer, sell, or use their tokens in DeFi while still earning staking rewards.

In the broader Cosmos ecosystem, where ATOM serves as the central token of the Cosmos Hub, stATOM is a versatile asset offering the benefits of DeFi engagement alongside a 20.89% staking reward. Stride supports 17 tokens including stTIA, stBGT, stDYM, stSAGA, stDYDX, stATOM, stOSMO, stSTARS, stJUNO, stLUNA, stEVMOS, stINJ, stUMEE, stCMDX, stSOMM, stISLM, and stBAND. Third-party endorsements highlight its value: Delphi Digital noted Stride's growth to 35 million TVL from 5 million at the start of the year, Mars Protocol described LSDs such as stATOM as critical to its success, and Blockworks Research suggested Stride may become the largest competitor to Lido as an appchain dominating the Cosmos LST market.

What is Stride Staked ATOM used for?

Stride Staked ATOM serves multiple functions within the Cosmos ecosystem. Primarily, it represents staked ATOM and can be converted back to the original tokens at any point. It permits seamless transactions, transfers, and participation in DeFi activities. Unlike staked ATOM, stATOM is liquid, meaning it can be sold, transferred, or used in DeFi.

stATOM can be used across a variety of DeFi platforms. On Osmosis, the largest interchain DEX, stATOM can be swapped, used to earn yield, and built upon. Mars Protocol uses stATOM as a critical liquid staking derivative. Additionally, stATOM holders are eligible for airdrops, including TIA, ATOM, OSMO, and others. Community discussion references using stATOM in an ATOM/stATOM pool and swapping on Osmosis. An important feature of Stride Staked ATOM is its support for on-chain governance, facilitated through the STRD token, which empowers users with a say in the protocol's future direction, ensuring a community-driven approach to development and decision-making.

How Is the Stride Staked ATOM ecosystem developing?

The Stride ecosystem continues to expand its liquid staking offerings. Stride supports 17 tokens including stTIA, stBGT, stDYM, stSAGA, stDYDX, stATOM, stOSMO, stSTARS, stJUNO, stLUNA, stEVMOS, stINJ, stUMEE, stCMDX, stSOMM, stISLM, and stBAND, with native assets referenced for liquid staking including TIA, ATOM, DYM, DYDX, OSMO, BGT, and SAGA. A new feature, stBGT, is live with an earn points campaign.

DeFi and ecosystem integrations continue to grow. stATOM is listed on Osmosis, the leading decentralized Cosmos exchange and largest interchain DEX. Mars Protocol has publicly emphasised the importance of LSDs such as stATOM to its success. The protocol maintains active community engagement through X at https://twitter.com/stride_zone, with community activity including campaigns such as proportional distribution requiring a minimum of $100 traded to qualify, encouraging users to liquid stake ATOM to stATOM and trade actively. Reddit discussions in r/cosmosnetwork have also covered liquid staking stATOM from Stride.

How to mine Stride Staked ATOM?

Stride Staked ATOM is not mined through traditional proof-of-work mechanisms. Instead, it is obtained through liquid staking on the Stride protocol. To acquire stATOM, users first transfer their ATOM to the Stride network and connect their wallet to the Stride Zone App. The liquid staking process involves staking ATOM and receiving stATOM representing that staking, which can then be traded or used in DeFi.

Staking rewards are generated through the Proof of Stake consensus mechanism. The reward rate is 15.14% APY according to Staking Rewards, while the CoinMarketCap description cites a 20.89% staking reward. The benchmark commission is 10%. As an example, staking $10,000 for one year estimates $1.51k in earnings at the 15.14% reward rate. The redemption rate appreciates daily, with 1 stATOM currently equal to 1.33 ATOM. Staking market cap stands at $10.68m, with total staked at 3.33m and inflation at 12.44%.

How to keep your Stride Staked ATOM Coin safe?

Securing Stride Staked ATOM requires attention to both protocol-level and personal security practices. Stride describes itself as a secure minimalist blockchain, with security as its top priority. The protocol has completed 10 audits from multiple industry leaders in blockchain security, including seven audits by Informal Systems covering all features and security measures, two by Oak Security covering core functionality and ICA oracle contracts, and one by CertiK auditing the architecture of the MVP at launch in 2022. The CertiK rating is 2.7.

Users should be aware that liquid staking protocols, including the one offered by Stride Staked ATOM, are subject to smart contract vulnerabilities, which could potentially impact the security of staked assets. Best practices include using hardware wallets where possible, verifying contract addresses before interacting with any DeFi platform, connecting only to official Stride applications, and staying informed through official channels such as the Stride website at https://stride.zone/ and X account at https://twitter.com/stride_zone. Users should also carefully review the unbonding period implications when redeeming native tokens via the app versus swapping instantly on a DEX.