Stride Announces Massive STRD Airdrop for stTIA Holders in Celestia Liquidity Staking Blitz
Stride, the liquid staking provider for the Cosmos (ATOM) ecosystem, has unveiled plans for a significant airdrop of its native token, STRD. This airdrop, totaling 5 million STRD, equivalent to 5% of the total supply and valued at $18.65 million, is set to reward early holders of stTIA, a Celestia liquidity staking token.
Airdrop Details and Timeline
The airdrop will span 150 days, with daily snapshots beginning immediately. During the first 60 days, users holding stTIA will enjoy a 2x bonus. Following the allocation, STRD will become claimable six months after the date it was earned. To be eligible initially, stTIA must be held on the Stride blockchain, expanding to Osmosis and Neutron blockchains on February 5th.
stTIA Blitz: Unprecedented Rewards
This initiative, labeled the “stTIA Blitz,” is unprecedented in its scale, with 5 million $STRD being distributed over a short 150-day period. The goal is to encourage the rapid adoption of stTIA, a token associated with the promising Celestia blockchain.
Celestia has gained recognition for its quality contributors, pioneering work in data availability, and a dedicated community. Stride protocol aims to enhance Celestia by providing secure and neutral TIA liquid staking, with the airdrop playing a crucial role in boosting stTIA liquidity and awareness.
Stride Protocol Dominance and Allocation Structure
Having launched in September 2022, Stride has become the dominant liquid staking provider for Cosmos, commanding 90-95% market share for various tokens. The Stride TVL currently stands at $85 million, reflecting its significant presence in the market.
Stride protocol redirects 8.5% of staking rewards from all liquid staked tokens to STRD stakers, further enhancing the appeal for users to participate in stTIA liquidity staking.
Airdrop Eligibility and Location Expansion
Eligibility for the airdrop requires holding stTIA, which can be acquired through the Stride protocol app or by swapping on a decentralized exchange (DEX). Initially, only stTIA on the Stride blockchain is eligible, with eligibility expanding to Osmosis and Neutron blockchains on February 5th.
Whitelisting additional locations and activities will occur throughout the airdrop, with public announcements accompanying each expansion.
Allocation Schedule and Distribution Process
The 150-day airdrop period is divided into two phases: phase one and phase two. The allocation is frontloaded in the first 60 days, encouraging fast adoption. Daily snapshots determine stTIA holders’ eligibility, with STRD allocated based on the pro-rata stTIA amounts.
The STRD airdrop becomes claimable 180 days after allocation, and users have an additional 180 days to claim their tokens. Unclaimed STRD after this period will be returned to the community pool.
stTIA as Modular Money in Celestia’s Ecosystem
The introduction of stTIA is hailed as a significant development for Cosmos, addressing challenges associated with driving on-chain use of Proof-of-Stake (PoS) tokens. stTIA is envisioned as modular money, facilitating on-chain usage and velocity across various chains, DEXs, DeFi leverage apps, NFT trading, and DAO treasuries.
Final Thoughts and Invitation to Join the Staking Revolution
With the generous STRD airdrop and the promise of liquid staking for TIA, Stride is positioning itself at the forefront of Celestia’s modular expansion. Users staking TIA are encouraged to begin the 21-day unstaking process, while others can readily swap into stTIA on a DEX to start earning their share of STRD.
As Celestia continues its rapid modular expansion, Stride remains committed to providing liquid staking tokens for more modular chains, cementing its role in this exciting ecosystem. The stTIA Blitz marks a historic opportunity for users to participate in and benefit from the thriving Cosmos ecosystem.
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