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Stride Protocol Integrates With Namada for Asset Security: Details

source-logo  u.today 30 May 2024 15:05, UTC

Using Namada’s multi-asset shielded pool (MASP), customers of leading Cosmos LST provider will be able to invest with an unparalelled level of security and earn NAM rewards for their contribution. Technically, Namada’s MASP works not unlike ZCash shielded assets but can be integrated with every blockchain.

Stride Protocol teams up with Namada for better assets protection in cross-chain LSTs

Multichain liquid staking protocol Stride has announced an integration with Namada, the shielded asset hub rewarding users to protect the multichain. As a result, all users of Stride and its liquid staking platform will be able to work with LSTs in a more secure and convenient manner.

1/4 Introducing the new and improved Stride website 🎉

Redesigned site is more user-friendly and informative. Plus it better conveys the reliability and security of Stride.

New tokenomics page and new upcoming airdrops page.

Check it out! 😀 pic.twitter.com/aPnBDK5JMl

— Stride (@stride_zone) May 27, 2024

The integration will allow holders of Stride’s LSTs to utilize their tokens and benefit from the highest possible level of personal data protection. Using Namada’s multi-asset shielded pool (MASP), holders of Stride LSTs will be able to collect NAM shielding rewards for protecting their data and strengthening Namada’s shielded set.

This technology assures superior data protection by enabling individuals to hold and transact tokens and NFTs, while having full control over sharing their personally identifiable information.

Stride contributor John Galt highlights the importance of the collaboration between the two protocols for the entire sphere of liquid staking and its Cosmos-based segment in particular:

Namada and Stride protocol will work together synergistically. With Stride LSTs, users will be able to earn staking rewards on their Cosmos tokens while using Namada’s shielded pool and collecting NAM shielding rewards.

As covered by U.Today previously, Stride (STRD) protocol for liquid staking kicked off on Cosmos (ATOM) mainnet in Q1, 2023.

Cosmos LST ecosystem will be able to collect NAM rewards

Dieter Fishbein, CCO of Heliax, one of the companies that is behind the development of Namada (NAM) solutions, echoes the statement of his colleague:

Stride is the leading liquid staking solution for the Cosmos ecosystem, so we’re excited to enable Namada shielding for users of all Stride LSTs. This integration is a big step towards the goal of bringing data protection capabilities to DeFi not just on Cosmos but the broader crypto ecosystem.

Besides advanced security, major LSTs will be eligible for Namada shielding rewards (NAM tokens), meaning users can collect both staking rewards and shielding rewards on the same assets, while enjoying industry leading data protection guarantees.

Cutting-edge data obfuscation developments allow Namada (NAM) to provide modular data protection capabilities to any existing blockchain network or decentralized application, with support for shielded cross-chain transfers.