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Stride Expands Cosmos-based LSD Offerings With New stEVMOS Launched


news.coincu.com 14 February 2023 17:03, UTC
Reading time: ~2 m

Now, users may stake EVMOS on Stride to generate stEVMOS, which they can then use to earn DeFi yields and staking rewards.

1/6 Surprise launch!

stEVMOS is now live 🎉https://t.co/pd2UxRhptk

Use your EVMOS to mint the liquid staked derivative stEVMOS. Using stEVMOS, earn staking rewards and DeFi yield at the same time.

Details 🧵👇

— Stride (@stride_zone) February 13, 2023

A flexible and more effective alternative to traditional staking is liquid staking. In particular, it enables token holders to access their assets and yet reaps the rewards of token staking.

For token owners, staking tokens has often had a significant opportunity cost. They consent to lock up their assets for a defined amount of time by staking their tokens. By doing this, users could pass on chances to exchange or otherwise benefit from their tokens.

Some token holders could be deterred from taking part in routine staking because of this opportunity cost. However, networks may benefit from the reliability and security that come with staked tokens through liquid staking. In addition, token owners have the freedom to use their assets any way they see fit while still earning staking benefits.

The most recent development in the DeFi industry, liquid staking derivatives, provides a new option to generate income on your crypto assets.

On Osmosis, a stEVMOS/EVMOS pool has been established with STRD rewards. Later, there could be further applications for stEVMOS, including utilizing it as security for DeFi lending.

A multichain liquid staking appchain on Cosmos is called Stride. It introduced its first liquid staking derivative, stATOM, when it went live on the mainnet in September. Five other chains, including the most recent addition Evmos, have since joined the Stride ecosystem. Stride debuted stLUNA, their first LSD for 2023, last week. Over $10 million has been unlocked on Stride as of this writing.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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