Stride is a blockchain that allows users to liquidate their staked tokens from any Cosmos chain and earn both staking and DeFi yields. They recently announced their stDYDX AND stTIA airdrop. This means TWO AIRDROPS! Here is our Stride ($STRD) token airdrop guide.
Check out our Stride $STRD token airdrop video guide!
What is Stride?
Stride provides liquidity for staked tokens from any Cosmos chain. Here are some major features of Stride:
Liquid Staking: A process that allows users to earn both staking and DeFi yields by converting their native tokens into staked tokens (st-Tokens) that can be freely traded and redeemed.
Supported Chains: Stride supports liquid staking for 10 Cosmos chains currently and plans to onboard more than 40 additional chains in the next 12 months.
Governance: Stride allows anyone to propose onboarding a new chain through a governance vote, which will automatically onboard the new chain if passed.
What is the Stride ($STRD) token?
Stride ($STRD) is the native token of Stride protocol, which redirects 8.5% of staking rewards from all liquid staked tokens to STRD stakers. STRD launched in September 2022 and has a current TVL of $85M. Here are the key features of the Stride ($STRD) token:
Decision-making: The STRD token allows holders to participate in important decisions within the Stride Zone. These decisions include:
Allocating staked tokens to each validator.
Onboarding new validators.
Implementing protocol modifications and enhancements.
Staking Rewards: Users can stake their tokens using Stride and earn staking rewards while retaining liquidity in the form of stTokens. These stTokens can be redeemed for the original token at a 1:1 ratio.
Voting Power: Holders of STRD tokens can vote on critical matters, such as distribution of staked tokens, validator onboarding, and other protocol upgrades.
Security: STRD tokens can also be staked to secure the Stride Appchain.
Will there be a Stride token airdrop?
Stride have confirmed they will be doing two airdrops for stDYDX holders, as well as stTIA holders.
For the airdrop to stDYDX holders, 150,000 STRD will be airdropped to users who hold stDYDX over the next 120 days starting from 6 February 2024. Snapshots will be taken daily to track the amount and duration of stDYDX held by each address. To be eligible, you will need a Cosmos address that holds stDYDX. Users can get stDYDX by liquid staking DYDX using the Stride protocol app or by acquiring it on a DEX. Users can also use stDYDX in any Cosmos DeFi app or transfer it to any Cosmos chain via IBC, as long as they keep the same private key. For the airdrop, users will receive a share of the STRD airdrop proportional to how much stDYDX they held and for how many days.
For the airdrop to stTIA holders, 5 million $STRD (i.e. 5% of the total maximum supply) will be airdropped to stTIA holders. The airdrop will start on 1st February 2024 and last for 150 days. Snapshots will be taken every day to check users’ stTIA holdings. The airdrop allocation is frontloaded in the first 60 days where users will get a 2x bonus for holding stTIA on the Stride blockchain. After 10:00 UTC on 5th February 2024 however, users holding stTIA on Osmosis and Neutron chains will also qualify for the airdrop. This includes the stTIA/TIA pools on both the Osmosis DEX and Astroport Neutron. Users will get allocate a share of the airdrop. However, the STRD tokens only becomes claimable and fully liquid 180 days after allocation.
How to get the Stride ($STRD) token airdrop
Here’s how to get the Stride ($STRD) token airdrop for both stDYDX holders and stTIA holders
Fund wallet with DYDX
Fund your Leap or Keplr wallet with DYDX
Get stDYDX
To get stDYDX, go to the Stride protocol app and stake your DYDX to get stDYDX. Alternatively, if you do not want to stake DYDX, simply swap DYDX for stDYDX on a DEX such as Osmosis.
Hold stDYDX
Hold your stDYDX in your Keplr or Leap wallet. You can also use the stDYDX within any Cosmos DeFi application or transfer it across various Cosmos blockchains using IBC. However, your stDYDX must remain in the same Cosmos address with the same private key.
Fund wallet with TIA
Fund your Leap or Keplr wallet with TIA.
Get stTIA
To get stTIA, go to the Stride protocol app and stake your TIA to get stTIA. Alternatively, if you do not want to stake TIA, simply swap TIA for stTIA on a DEX such as Osmosis.
Hold stTIA
Hold your stTIA on the Stride blockchain for the first 60 days starting from 1st February 2024 as users will get a 2x bonus for doing this. After 10:00 UTC on 5th February 2024 however, users can also hold their stTIA tokens on Osmosis and Neutron blockchains. This includes both stTIA and TIA held in the Osmosis DEX pool #1428 and the Astroport DEX stTIA/TIA pool.
Stride ($STRD) token airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of airdrop: Both the stDYDX and stTIA holder airdrops are now LIVE!
Airdropped token allocation: 150,000 STRD will be airdopped to stDYDX holders. Also, 5 million STRD (5% of total max supply) will be airdropped to stTIA holders.
Airdrop difficulty: Both airdrops are very simple and only require you to hold the stDYDX and stTIA tokens.
Token utility: The $STRD token is used for governance, enabling voting, staking and participation in protocol decisions.
Token lockup: STRD tokens only becomes claimable and fully liquid 180 days after allocation.
