Stride($STRD) Token Airdrop Information
Stride is a blockchain that allows users to liquidate staked tokens on the Cosmos Chain and earn both staking and DeFi returns. They recently announced stDYDX and stTIA airdrops. That means two airdrops! The following is a guide to the Stride ($STRD) token airdrop.
Check out our Stride $STRD token airdrop video guide!
What is Stride?
Stride provides liquidity for tokens staked on all Cosmos chains. Stride’s main features include:
- Liquid Stake: A process that allows users to earn both staking and DeFi returns by converting native tokens into staked tokens (st-Tokens) that can be freely traded and redeemed.
- Supported Chains: Stride currently supports liquid staking for 10 Cosmos chains and plans to onboard 40+ additional chains in the next 12 months.
- Governance: Stride allows anyone to propose onboarding a new chain through a governance vote, and if passed, the new chain is automatically onboarded.
What is the Stride($STRD) token?
Stride ($STRD) is the native token of the Stride protocol, redirecting 8.5% of the staking rewards from all liquid staking tokens to STRD stakers. STRD was launched in September 2022 and currently has a TVL of $85 million. The main features of the Stride($STRD) token are:
- Decision: STRD tokens allow holders to participate in important decisions within the Stride Zone. These decisions include:
- Allocate staked tokens to each validator.
- Onboard new validators.
- Implement protocol modifications and improvements.
- Staking Rewards: Users can use Stride to stake tokens and earn staking rewards while maintaining liquidity in the form of stTokens. These stTokens can be exchanged for their original tokens at a 1:1 ratio.
- vote: STRD token holders can vote on important issues such as staked token distribution, validator onboarding, and other protocol upgrades.
- security: You can also secure your Stride Appchain by staking STRD tokens.
Is there a Stride token airdrop?
Stride has confirmed that it will be conducting two airdrops. For stDYDX holders and stTIA holders.
For the airdrop to stDYDX holders, 150,000 STRD will be airdropped to users holding stDYDX over the next 120 days starting February 6, 2024. Snapshots are taken daily to track how much stDYDX is held by each address and for how long. To be eligible, you will need a Cosmos address holding stDYDX. Users can earn stDYDX by liquidly staking DYDX using the Stride protocol app or by earning it on DEXs. 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 airdrops, users will receive STRD airdrops proportional to how many stDYDX they hold and over a number of days.
For airdrops to stTIA holders, $5 million STRD (i.e. 5% of total maximum supply) will be airdropped to stTIA holders. The airdrop starts on February 1, 2024 and will last for 150 days. A snapshot is taken daily to determine a user’s stTIA holdings. The airdrop allocation will be frontloaded for the first 60 days and users will receive a 2x bonus for holding stTIA on the Stride blockchain. However, after 10:00 UTC on February 5, 2024, users holding stTIA on the Osmosis and Neutron chains will also be eligible to receive the airdrop. This includes Osmosis DEX and Astroport Neutron’s stTIA/TIA pool. Users will be allocated a portion of the airdrop. However, STRD tokens are claimable and fully liquid only 180 days after allocation.
How to receive the Stride($STRD) token airdrop
Here’s how to receive the Stride ($STRD) token airdrop for both stDYDX and stTIA holders.
- Fund your wallet with DYDX
Fund your Leap or Keplr wallet with DYDX
- Import stDYDX
To get stDYDX, go to the Stride protocol app and stake DYDX to get stDYDX. Alternatively, if you don’t want to stake your DYDX, you can simply exchange DYDX for stDYDX on a DEX like Osmosis.
- Maintain stDYDX
Store stDYDX in your Keplr or Leap wallet. You can also use stDYDX within Cosmos DeFi applications or transfer to various Cosmos blockchains using IBC. However, stDYDX must remain at the same Cosmos address using the same private key.
- Fund wallet using TIA
Fund your Leap or Keplr wallet with TIA.
- Get stTIA
To earn stTIA, go to the Stride protocol app and stake TIA to earn stTIA. Alternatively, if you don’t want to stake TIA, you can exchange TIA for stTIA on a DEX like Osmosis.
- stTIA pending
If users do this, they will receive a 2x bonus, so keep stTIA on the Stride blockchain for the first 60 days starting February 1, 2024. However, after 10:00 UTC on February 5, 2024, users will also be able to hold stTIA tokens on the Osmosis and Neutron blockchains. This includes both stTIAs and TIA held in the Osmosis DEX pool #1428 and the Astroport DEX stTIA/TIA pool.
Stride($STRD) Token Airdrop Review
There are several factors to consider when reviewing airdrops. First, there is a possibility that the project will conduct an airdrop in the first place. We will then look at how many tokens the project will allocate to the airdrop campaign and the difficulty of participating in the airdrop. It is also important to look at the utility of the token to ensure that it has an actual use and purpose when participating in the airdrop in the first place. Lastly, a factor to consider when reviewing an airdrop is whether a lock-up period applies to the airdropped tokens.
Airdrop possibilities: Both stDYDX and stTIA holder airdrops are now live!
Airdropped token allocation: 150,000 STRD will be airdopped to stDYDX holders. Additionally, 5 million STRD (5% of total maximum supply) will be airdropped to stTIA holders.
Airdrop Difficulty: Both airdrops are very simple and only require you to hold stDYDX and stTIA tokens.
Token Utility: $STRD tokens are used for governance, enabling voting, staking, and participation in protocol decisions.
Token Lockup: STRD tokens are claimable and fully liquid only 180 days after allocation.
