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Stride Staked ATOM

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Discover Stride Staked ATOM's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Stride Staked ATOM?

Stride Staked ATOM (stATOM) is a representative token for staked ATOM, derived through liquid staking using the Stride protocol. It allows seamless transactions, transfers, and DeFi participation while offering staking rewards. stATOM can be converted back to the original ATOM tokens at any point, making it a versatile asset within the Cosmos ecosystem.

How is Stride Staked ATOM used?

Stride Staked ATOM (stATOM) is a representative token for staked ATOM, derived through the process of liquid staking ATOM using the Stride protocol. This token allows for seamless transactions, transfers, and participation in DeFi activities while maintaining liquidity. stATOM can be converted back to the original ATOM tokens at any point, making it a versatile asset within the Cosmos ecosystem.

How do I store Stride Staked ATOM?

To store Stride Staked ATOM (stATOM) tokens, you can use a reliable crypto wallet. Here are the steps to follow:

  1. Choose a Crypto Wallet: Select a wallet that works well in your area, accepts your payment method, and follows your preferred policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. You can download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.

  2. Set up Your Wallet: Create an account by providing your personal information and selecting a strong password. You will be given a Secret Recovery Phrase or Seed Words, which is crucial to note down accurately in case you lose your wallet.

  3. Hardware Wallet Option: For added security, consider using a hardware wallet. Store your Stride Staked ATOM in the hardware wallet and keep it disconnected from the internet in a safe. This ensures maximum protection against unauthorized access.

By following these steps, you can securely store your stATOM tokens and manage your cryptocurrency assets effectively.

How to buy Stride Staked ATOM?

To buy Stride Staked ATOM (stATOM) tokens, you can follow these steps:

  1. Choose an Exchange: Look for exchanges that list stATOM. Websites like Holder.io and CoinMarketCap provide comprehensive tables featuring stATOM rates across various exchanges.

  2. Create an Account: Sign up for an account on the chosen exchange, ensuring you follow their registration and verification procedures.

  3. Deposit Funds: Deposit the necessary funds, such as ATOM or other supported cryptocurrencies, into your exchange account.

  1. Buy stATOM: Use the deposited funds to purchase stATOM tokens. You can do this through the exchange's trading interface.

  2. Store Your Tokens: After buying stATOM, consider transferring them to a secure wallet, such as a cold wallet, to ensure long-term safety and security.

Remember to carefully study the crypto information and market conditions before investing, as stATOM is a blockchain asset with high risk.

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History of Stride Staked ATOM

Stride Staked ATOM (stATOM) is a liquid staked token that represents staked ATOM. It is part of the Stride protocol, which allows users to earn staking rewards without locking their tokens. This means that stATOM can be transferred, sold, or used in DeFi activities while still earning rewards.

The Stride protocol automatically accrues staking rewards to the value of stATOM, making it worth slightly more ATOM every day. This gradual appreciation in value against the underlying token is how users benefit from staking rewards.

Stride Staked ATOM is a versatile asset within the Cosmos ecosystem, offering the benefits of DeFi engagement alongside a significant staking reward. It can be converted back to the original ATOM tokens at any point, making it a liquid alternative to traditional staking.

Stride Staked ATOM is supported on the Cosmos blockchain and is part of a multichain liquid staking protocol. It has a significant following on social media, with over 79,000 Twitter followers, indicating a strong community interest in the project.

The token's performance can be tracked through various analytics platforms, which provide data on its price history, market capitalization, and user engagement. These platforms also offer comparisons with similar crypto projects to help understand stATOM's position in the market.

Overall, Stride Staked ATOM provides a unique solution for users who want to earn staking rewards without sacrificing the liquidity of their tokens. Its integration with the Cosmos ecosystem and DeFi activities makes it an attractive option for those seeking to optimize their rewards and engage in various crypto activities.

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How Stride Staked ATOM works

Stride Staked ATOM, also known as stATOM, is a derivative token that represents staked ATOM tokens on the Stride platform. Here's how it works:

Staking and Liquid Staking

When you stake your ATOM tokens on Stride, you receive stATOM tokens in return. This process is known as liquid staking. Liquid staking allows you to earn staking rewards while still maintaining liquidity for your staked assets. The stATOM tokens can be used within the Cosmos DeFi ecosystem to generate further yield, sold for immediate liquidity, or redeemed back for your initially staked ATOM tokens plus the staking rewards they accumulated.

Staking Rewards and Compounding

The staking rewards are auto-compounded, which means the value of stATOM increases over time. This compounding effect is built directly into the stATOM token, making it more valuable than the original ATOM token. If you stake 100 ATOM tokens and receive 95 stATOM tokens, the stATOM tokens will increase in value due to the compounding effect. If you trade the stATOM tokens for another token and then buy them back after a period, you will need more ATOM tokens to purchase the same amount of stATOM due to the increased value.

Security and Unstaking

Initially, liquid staking on Stride required depositing unstaked ATOM tokens to receive stATOM. This preserved the three-week security feature of the staking lockup, allowing users to cancel any unauthorized unstaking attempts. However, Stride later introduced the ability to deposit staked ATOM tokens directly, which made the process less secure. Users can now request a feature to block liquid staking of staked tokens on a per-address basis, which would restore the original security level.

Unstaking Process

To unstake your tokens, you need to move your stATOM tokens from your wallet to Stride, and then you can redeem them for your original ATOM tokens plus the staking rewards. The unstaking process involves a three-week lockup period, during which your tokens are illiquid and do not earn rewards.

Benefits and Risks

The benefits of staking ATOM on Stride include earning staking rewards and maintaining liquidity for your staked assets. However, there are risks involved, such as key or asset mismanagement, protocol errors, and attacks against the network. It is essential to carefully choose validators and track your staking operations to minimize risks.

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Stride Staked ATOM's strengths

Stride Staked ATOM (stATOM) has several strengths that make it an attractive option for investors:

  1. Liquid Staking: stATOM allows users to earn staking rewards without locking their tokens. This means users can transfer, sell, or use their tokens in DeFi while still earning rewards, providing greater flexibility and utility.

  2. Non-Rebasing: Unlike some other liquid staking tokens, stATOM is non-rebasing. This means that its value constantly appreciates against the underlying staked token, ATOM. For example, the amount of ATOM that can be redeemed by 1 stATOM increases daily due to accumulating staking rewards.

  3. Staking Rewards: stATOM automatically earns staking rewards, which are reflected in its increasing value against ATOM. This means that users can benefit from staking rewards without needing to manually claim them.

  1. DeFi Integration: stATOM can be used in various DeFi applications, such as trading on DEXs, providing liquidity, and collateralizing loans. This integration expands the use cases for stATOM and enhances its overall value proposition.

  2. Security: Stride, the protocol behind stATOM, prioritizes security and has implemented several measures to ensure the safety of users' assets. These measures include audits by multiple security firms, interchain security from Cosmos Hub, and continuous code reviews.

  3. Governance: The STRD token, which is the governance token for the Stride blockchain, allows stakers to vote on changes to the Stride liquid staking protocol, ensuring that the community has a say in the project's direction.

These strengths make stATOM a versatile and attractive option for those looking to earn staking rewards while maintaining the flexibility to use their tokens in various DeFi applications.

Stride Staked ATOM's risks

Stride Staked ATOM (stATOM) carries several financial risks. One significant risk is that stATOM is locked on the protocol to earn rewards, which means it cannot be freely traded or accessed during that time. Additionally, Stride levies a 10% tax on all staking rewards earned by its liquid staking derivatives, which can reduce the overall returns.

Another risk is that the value of stATOM can fluctuate over time. If you trade stATOM for another token and then rebuy it later, you may find that it costs more ATOM than before due to the compounding effect, potentially reducing your overall returns.

Furthermore, stATOM is a derivative of staked ATOM, and its value increases over time due to the built-in APR. However, if you swap stATOM back for ATOM on Stride, there is no bonus APR paid out for the time the ATOM was staked.

Lastly, there are risks associated with the underlying protocol and network, such as key or asset mismanagement, protocol errors, or attacks against the network, which can result in loss of funds.

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Did Stride Staked ATOM raise funds?

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Stride Staked ATOM's ecosystem

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Stride Staked ATOM’s team

  • Vishal Talasani: Co-founder of Stride, primarily responsible for hiring engineers to build out the protocol and ensuring the security of the chain.
  • Riley Edmunds: Co-founder of Stride Labs, involved in the development of the Liquid Staking Module (LSM) and its integration with the Cosmos Hub.

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The fundamental analysis assistant for crypto value investors.

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