Hey All,
Its been almost 10 days that I had staked my 59+ $ATOM on the Stride platform. Stride Staking - Experience. These 59+ $ATOM was split in half to enter the ATOM / stATOM Pool liquidity. The Stride platform users can stake their tokens on Stride platform from any Cosmos chain. When you staking $ATOM you get $stATOM tokens which currently has a liquid staking APR of 22+% now as opposed to 16.8% when I started staking. With the recent pump in crypto market my liquidity pool balance also increased from $620+ to $755+ now. Here is the snapshot from my earlier $620+ investment into the ATOM / stATOM Pool liquidity.
This is all because of the recent crypto pump and $ATOM gaining 12% price hike; currently trade at $13+. Apart from all these gains, I did get the $STRD token as LP reward. I did sell some $STRD to exchange for $ATOM.
Here is current $STRD in wallet. But overall I got close to 20+ $STRD in the last 10+ days as staking rewards. The plan is to continue accumulating the $STRD token and exchange it for $ATOM. I want to get to a point where I have got my initial investment back. At the moment I am getting close to half a cent $0.4+ daily; for bonding assets which is currently worth $755+. This will continue to rise if $ATOM outperforms and currently the Unbonding assets period is as usual i.e. 14 days to get my liquid assets back. There is another advantage of liquidity staking on Stride platform.
How does stATOM yield work?
$ATOM is a coat, and $stATOM is the coat check ticket. Every day, someone puts a little money in the coat pocket - that's the staking rewards.
I am hopefully that this liquid staking on Stride is going to be a good experience. As defined above If you buy the coat check ticket i.e. stATOM that I did today at the rate of:: Protocol redemption rate :: 1 stATOM = 1.064 ATOM [this is when I started 10 days back] and now this has increased to 1 stATOM = 1.071 ATOM; which means stATOM is defined to rise exponentially. Now that I have seen some gains by liquidity staking on Stride platform. I am now looking forward to some great returns and accumulate some $Stride tokens via the yields.. at the moment price of $stride is also doing good; though down 9% today and is currently trading in the range bound of $0.30 to $0.35 cents.
#strd #rewards #stake #statom #defi #staking #atom
DeFi - ATOM / stATOM Pool liquidity now $10 Mil+ & My Strategy
Best Regards
Image Credits:: stride.zone, app.osmosis.zone