Cosmos Hub confirms support for Stride

Cosmos Hub has announced that the community has officially passed proposal #794. This confirms the support for Stride and extended support to adopt ICS. Stride, the service provider for liquid staking, will now enter the Atom Economic Zone and be able to leverage the security measures of Cosmos Hub.

In return, Cosmos and its community will gain access to the offerings of Stride. Most of them relate to the reward benefits. For instance, Stride will offer Cosmos Hub 15% of liquid staking rewards and 15% of the transaction fees. Moreover, 15% of each of MEV revenue and STRD inflationary staking rewards will also be handed over to Cosmos.

What makes the distribution of rewards special is the fact that Stride charges 10% from staking rewards of liquid staked tokens. In other words, it consists of many tokens that are boarded by Stride.

Sharing a portion of it, 15% in this specific case, goes on to constitute the staking reward of multiple tokens. These are OSMO, ATOM, JUNO, STARS, EVMOS, LUNE, and INJ. Cosmos Hub stakers will have access to the combination of these tokens via liquid staking reward.

Stride is simultaneously bringing various opportunities to collaborate with others in the ecosystem. Since Stride solely focuses on offering liquid staking rewards, the minimalist approach keeps it neutral among other chains and protocols. Therefore, it facilitates easy partnerships among all the players.

Cosmos Hub has the mission of offering interchain services (ICS). Stride accelerates the achievement of this mission by creating a strong synergy with the community. It additionally extends the potential of its offerings to the Atomic Economic Zone.

The community has expressed its excitement about the development, estimating that ATOM will largely benefit from this integration. There is no official word on the same, but if ATOM predictions are anything to go by, then the community may not be on the wrong track. ATOM is currently exchanging hands at $10.95. The optimistic mindset could be right since 

the price of ATOM is expected to touch $24.38 by the end of this year. That is the maximum limit, with the minimum limit being $10.04.

Assuming all the factors play well following the integration between Cosmos Hub and Stride, the price for every ATOM could also go on to touch $29.24 by the end of 2024.

ATOM is lagging behind when compared to where it should be in May 2023. Predictions quoted the price to be somewhere in the range of $13.04 and $15.76. However, it is way below $13 at the moment. A final verdict will be out only after May concludes.

Cosmos Hub has now scheduled an interaction with the community, wherein it will share what Stride could do next after officially joining the Atom Economic Zone. Proposal #794 has been approved, and Stride is all set to integrate with Cosmos Hub. Once integrated, stakers can expect to have rewards to their names, constituting several tokens that are onboarded by Stride.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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