Research Summary

The research report focuses on Stride, a Liquid Staking Token (LST) provider in the Cosmos ecosystem. Stride offers liquid staking for a variety of assets and directs 100% of its protocol revenue to stakers. Stride is planning to transition to a Hub consumer chain, entering into a revenue share agreement with the Hub. The report also highlights the potential growth of liquid staking in Cosmos, which is currently at 1% of the entire staked ATOM supply, compared to ~45% of the ETH staked supply.

Actionable Insights

  • Stride’s Dominance: Stride is a dominant LST provider in the Cosmos ecosystem with over 86% liquid staking dominance and 83% of liquid staked ATOM in circulation.
  • Revenue Sharing: Stride is planning to enter into a revenue share agreement with the Hub, which includes 15% STRD inflation, 15% protocol revenue, 15% MEV revenue, and 15% transaction fees.
  • Growth Potential: With only 1% of the entire staked ATOM supply currently liquid staked across all providers, Stride and other providers are well positioned for growth.
  • Liquid Staking Module (LSM): The upcoming implementation of the LSM on the Hub could potentially unlock hundreds of millions in staked liquidity, benefiting Cosmos DeFi and LST providers.

Visit the full report here


Related Research