Hey All,
Ok, finally I did decided to stake 59 ATOM worth $650+ at the time of writing this article. These $ATOM had been lying ideal on my keplr wallet for a long time now. And now finally they are staked here on the Stride platform. $STRD is calling them out as - The Liquid Staking Zone, where users can stake their tokens on Stride platform from any Cosmos chain. And then we can see our rewards accumulate in real time. There is No minimum number of tokens required to be staked; its that simple.. Lets take a look at my example of staking $ATOM here on Stride, the state-of-the-art multichain liquid staking experience!
59 $ATOM Stake on Stride
As seen from the above image, when I staked my 59 $ATOM - I got 55.45+ stATOM and they were added to my wallet. Speaking of rewards the current APR is 16.8+% . So altogether when you receive stTokens you need to stake stTokens and in my case I staked stATOM to receive rewards. The stTokens received for staking can be freely traded or staked and can be redeemed with $Stride at any time to receive your original tokens.
I have already started to get the rewards and they reflect on App.stride when you connect with your $stride wallet. $STRD has a max supply of 100 Mil. which I feel is decent and considering the fact that recently Stride becomes even more decentralized, by distributing 4% of its $STRD governance token via the airdrops.
How does stATOM yield work?
$ATOM is a coat, and $stATOM is the coat check ticket. Every day, someone puts a little money in the coat pocket - that's the staking rewards.
I am hopefully that this liquid staking on Stride is going to be a good experience. As defined above If you buy the coat check ticket i.e. stATOM that I did today at the rate of:: Protocol redemption rate :: 1 stATOM = 1.064 ATOM
And when I sell it the next, this is definitely going to make me some profit, since each day the coat i.e. $ATOM becomes more valuable. Whoever HOLDs the ticket can get the coat back at any time. When you reclaim the coat, you also get all the money in your pocket that you had invested. Lets see how this churns out in near future. I'll revisit back in 15 days to see what is the incremental value of my stATOM in my $stride wallet.
STRD - $STRD Staking - ATOM Staked with decent APRs...
#strd #rewards #stake #statom #defi #staking
Image Credits:: stride.zone,
Best Regards
