Stride v7.0.0 — Taurus Release
Stride will be undergoing a major upgrade to version 7.0.0 at block height 2,819,182, which is estimated to occur on Friday, March 17th 2023 at 12 UTC. Because of the uncertainty in block times, please keep track of the Stride chain for a precise estimate.
This upgrade includes a number of notable changes and improvements, including rate limiting to improve network security, a new protocol staking rewards distribution mechanism to reward stakers, and an IBC middleware module to streamline the user experience. Additionally, there have been several other changes and updates implemented, which we will explore in this article. Let’s dive into the details of these changes and what they mean for the Stride protocol and its users.
IBC Rate Limiting
One of the most significant changes in the Stride v7.0.0 upgrade is the introduction of rate limiting for incoming and outgoing transactions. This feature is designed to protect the Stride network in the event of a software bug or other issue that could potentially put user funds at risk. If a bug were to occur on Stride, IBC, or a counter party chain, rate limiting can help to raise an alert that something has gone wrong, allowing validators and developers to have time to analyze, react, and protect larger portions of user funds.
While rate limiting may sacrifice liveness in the case of legitimate demand to send extreme amounts of funds, it is a worthwhile tradeoff since it can prevent the long-tail full fund risks associated with a potential software bug or other issue.
Host Zone Reward Reallocation
Another major change in the Stride v7.0.0 upgrade is the introduction of a protocol staking rewards distribution mechanism based on Prop 8 approved by the Stride DAO and implemented by Notional DAO. Under this new system, staking rewards from the zones Stride supports is redirected to stakers, in return for their securing the network.
This new mechanism is designed to improve the overall health and security of the Stride network by increasing the number of staked tokens, which in turn helps to secure the network and reduce the risk economic of attacks. It also helps to create a more equitable distribution of rewards for those who are actively supporting the network through staking. Initially, staking rewards will be delivered in STRD, stATOM, stOSMO, stLUNA, stEVMOS, stJUNO and stSTARS — but this list will expand as Stride onboards new LSTs.
Autopilot Module
The Autopilot module is an designed to streamline the user experience and reduce the steps required to use the protocol. Before Autopilot, using Stride required two distinct transactions: bridging tokens to Stride using IBC and liquid staking. Now, these will be combined into one single transaction. Just sign once on the origin chain and receive your LSTs on Stride. The Autopilot module accomplishes this by acting as IBC middleware for arbitrary data to be passed along with token transfers. The Autopilot module will be disabled after the v7 upgrade, and can later be activated through a param change proposal after audits have been finalized.
The Autopilot module is an important tool for improving the usability and functionality of the Stride protocol, and will make using IBC/Stride feel more like using a single monolithic blockchain. Furthermore, contracts and DAOs will now be able to execute a single IBC transaction to liquid stake their tokens. Autopilot can continue to evolve and add new features, such as redemptions and IBC transferring tokens back to the origin chain.
Additional Changes
In addition to the changes mentioned above, the upgrade also includes several other improvements such as: helpful LCD queries, dependency bumps, code clean-ups and minor fixes, and safety features.
You can find the full changelog here: https://github.com/Stride-Labs/stride/blob/v7-changelog/CHANGELOG.md
What’s next?
The Stride v7.0.0 Taurus upgrade represents a significant step forward for the protocol, bringing new features and capabilities that will benefit users, strengthen network security, and help drive further adoption of liquid staking. Soon, Stride will be adding liquid governance, protocol owned arbitrage, additional safety features, and ICS. Stay tuned!
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