FireStride Chat (8/31/23)

In the latest FireStride Chat, Stride contributor Aiden and Summer participated in the discussion to offer updates about upcoming integrations and other protocol advancements.

• Stride recently rolled out its 14th upgrade, marking the fourteenth such update in its debut year. This frequency of software upgrades is considered remarkable, even unparalleled in some blockchain communities like Cosmos. Interestingly, both Stride and the Cosmos system had their v12 upgrades in July.
• Stride is introducing Liquid Staking Module (LSM) support with v14, which is set to be added to the Cosmos Hub on September 13th. Stride’s implementation allows ATOM holders to instantly unstake their ATOM and receive stATOM. LSM tokens, however, differ from stTokens. They are unique to a user’s account and a validator, functioning similarly to NFTs. Given their individuality, LSM tokens can’t be readily traded or lent, as their value isn’t standardized. Obtaining an LSM token is streamlined via Stride’s frontend, where users can liquid stake their ATOM. The process converts staked ATOM to LSM tokens which, when deposited in Stride, yield stATOM. Despite the seemingly complex process, Stride’s UI/UX has been crafted to ensure simplicity for users. In essence, LSM tokens serve as a mechanism for instant unstaking, a notable user-facing feature since Stride’s inception a year ago.
• Another feature of the v14 upgrade is the preparation for a series of exciting airdrops. Notably, the airdrop for Umee, Sommerlier, Comdex stakers are set to make their debut next week.
• Lastly, v14 incorporated an ICA (interchain accounts) Oracle module, enhancing its interoperability with other chains, such as Osmosis. This addition is designed to export crucial protocol variables to other platforms. A direct benefit of this update is evident in lending protocols like Mars, where the allowance for lending cash relative to stTokens, specifically stATOM, can be increased. By availing these internal Stride parameters, the safety of lending stTokens on various chains is augmented. Consequently, platforms like Mars and potentially Umee can enhance their lending cash provisions for stTokens.
• stSOMM is now active, enabling users to earn staking rewards while retaining liquidity. Users can mint it on Stride’s app and trade on the Osmosis platform. Soon, stSOMM will be utilized as collateral on platforms like Umee and possibly Nitron. Additionally, a STRD airdrop for staked SOMM holders is scheduled for claim in the upcoming week
• A proposal regarding stJUNO is currently under discussion on Juno. Originating from a previous Juno proposal focused on protocol-owned liquidity, the Juno community pool initiated the deployment ofstJuno-Juno on Osmosis. Consequently, stJuno was then listed as collateral on Umee. The current proposal aims to deploy an additional 1 million Juno to the Juno-Juno pool, potentially increasing the cap on Umee.
• The results of the merch voting contest are now available on the announcements channel, showcasing the winning designs.
• An art NFT Cosmoverse competition will be launched, blending the worlds of art, NFTs, and Cosmoverse. This contest is particularly tailored for artists and content creators within the Stride community and will be held in the two weeks preceding the Cosmoverse event. While full details are yet to be released, the competition promises to be a platform for participants to showcase their artistic prowess and gain recognition from Stride during the Cosmoverse event. Further information will be unveiled on the announcements channel soon.
• Stride has launched a new homepage, community.stride.zone, which features a comprehensive tutorial hub. Developed in collaboration with the support lab team, the hub currently offers 10 tutorials with five more coming soon. These resources aim to assist users in navigating Strides integrations and optimizing their ST token usage in DeFi. Feedback and suggestions are welcomed by the Stride community team to enhance the platform further.

Full recording of the FireStride Chat can be found here: https://www.youtube.com/watch?v=G7aV24n3khQ

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