FireStride Chat (10/26/23)

FireStride Chats occur on Thursdays at 5:00 PM UTC in the official Stride Discord. You can find a recordings of FireStride Chats on the Stride Community Youtube.

In the most recent FireStride Chat, Stride contributors Riley and Summer provide insights to new stATOM integrations and new Stride token integrations. A detailed recap of their discussions can be found below.

• Riley announced that Levana is allowing users to use stATOM as collateral for perpetual swaps, offering a new way to leverage and potentially profit from stATOM in the Cosmos ecosystem. Perpetual swaps on Levana are similar to traditional futures but without an expiry date. Users can go long or short on an asset, with those positions being balanced by fees paid between long and short traders. This integration is significant as it introduces a leveraged trading opportunity previously limited to sophisticated traders in traditional finance, democratizing access to more complex, high-risk, high-reward trading strategies. Levana’s perpetual swaps have already seen over $4 million in traded volume, indicating strong initial uptake and interest. In case you missed it, there was a Twitter space for the launch: https://x.com/stride_zone/status/1714252350225834339?s=20
• Quasar Vaults recently launched a new stATOM/ATOM Dynamic S+ Vault, designed to automate and optimize liquidity strategies for the stATOM/ATOM pool on Osmosis. This vault uses off-chain data to dynamically rebalance positions in the pool’s concentrated liquidity band, while incorporating on-chain safety features to prevent malicious actions. Despite some debates about effectiveness and positions occasionally going out of band, it’s currently viewed as an effective tool for managing concentrated liquidity positions. Details were further discussed in a recent Twitter space: https://twitter.com/i/spaces/1vOxwjnRROWJB
• stATOM collateral for IST is live! While initial usage with Atom as collateral was low, the addition of STAtom significantly boosted the minting of the stablecoin. Interprotocol’s stringent risk parameters and audits, including a review by the risk auditors Gauntlet, validated stAtom as a reliable collateral. A tutorial for minting IST using stATOM can be found here: https://www.notion.so/How-to-Mint-IST-with-stATOM-on-Agoric-6e16b6490a114cc4af36127cf3144574
• The roadmap for Celestia and DYDX tokens is looking exciting, with both chains poised to launch imminently. Celestia’s token, TIA, will use its own tokens for inflation, whereas DYDX offers a unique model where staking rewards are in USDC, needing an upgrade on Stride to handle the different denominations. Stride is focusing heavily on these integrations, dedicating about 70% of their engineering resources. DYDX stands out for its strong team and novel perps system tailored for Cosmos, potentially bringing a major shift to what’s considered achievable in Cosmos. Celestia, aiming to rival Ethereum as a settlement layer with a focus on rollups, offers a promising platform for experimentation and could rival even the Cosmos Hub in size and scope. Both integrations are highly prioritized and viewed as potentially exceeding Atom in significance.

Full recording of the FireStride Chat can be found here: https://www.youtube.com/watch?v=iljlJ0hBxhc

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