Stride protocol announces STRD Airdrop token details on Nov’22

Stride has announced to airdrop the unreleased STRD token on November 22. These will represent 6.3% of the total supply. Users who stake OSMO, ATOM, STAR, JUNO, or INJ qualify for the airdrop.

Additional tokens will be rewarded to users who deposited tokens during September and October following the non-completion of the project. The airdrop program has been divided into three categories, namely:-

  • Conversion Cost Refund Program
  • Server Chain Airdrop
  • Testnet Reward

Effective November 23, 2022, the rebate program will be discontinued, while others will continue to operate as usual.

Stride concluded a seed round of $6.7 million in August. It announced the broadcasting of ATOM, OSMO, and JUNO at 2 million ST tokens, 1 million ST tokens, and 200,000 ST tokens, respectively. Stride is a Cosmos ecological liquidity commitment protocol with over $10 million in liquidity and more than a single audit. Any user can unlock the value of their asset through Stride by following the three simple steps.

It begins with staking tokens on the platform from any Cosmos chain. Rewards are then accumulated in real time with no minimum requirement. ST tokens are credited every time a user stakes their tokens. These tokens can be traded and redeemed at any time. The Cosmos DeFi allows users to set their risk tolerance while giving them a chance to earn staking yield.

Stride stands out in the crowd by following the concept of minimalism, wherein it does only one thing instead of sharing the blockchain with other applications. However, this contributes to its security department and keeps it neutral.

Neutrality allows Stride to partner with other networks without depending on others. The team plans to launch a liquid governance feature allowing ST Token holders to vote. Another addition that can make its way is launching a liquidity staking module immediately after going live. Stride is backed by Staking Facilities, Imperator, Everstake, 1Confirmation, Cosmostation, and Cerulean Ventures, to mention a few.

ST Tokens carry the basic utility of being transferred or sold without waiting during the lengthy staking period. stAtom can be offered as liquidity to ATOM/stATOM on Osmosis. The list will expand in the future after more integrations are considered.

Airdropping tokens helps Stride achieve the goal of making the network as decentralized as possible. However, ensuring that the tokens land in the right hands is important. It is estimated that around 50% of the tokens will be freely distributed to the community through liquidity incentives, airdrops, or staking rewards.

However, other measures are to be considered for the distribution of the tokens. The news was shared by Stride through its official Twitter handle, where it also informed that stakers would get airdrop every time the team boards a new chain. Before it discontinues the rebate program, all the participants will get a reward for their deposits.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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