Stride Launches Liquid Staking Token For Celestia
Cosmos-based liquid staking protocol will airdrop $18M worth of STRIDE tokens over five months to early adopters of stTIA.
By: yyctrader • Loading...DeFi News
The project has allocated 5M STRIDE tokens – worth $18.5M at the time of writing – to an airdrop for early adopters of its stTIA liquid staking token. 3M STRIDE will be distributed in the next 60 days.
STRIDE is up 26% in the past 30 days and has more than quintupled since November.
Initially, only stTIA held on the Stride chain will be eligible for the airdrop. Support for decentralized exchanges Osmosis and Astroport Neutron will be added on Feb. 5.
With $88M in total value locked (TVL), Stride is the largest LST protocol in the Cosmos ecosystem. While the vast majority of its TVL consists of ATOM and OSMO tokens, the protocol has been expanding its offerings in recent months.
stTIA is Stride’s second LST launch this week, coming just three days after the project integrated DYDX, the token of the leading perpetuals DEX by volume.
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