Hey All,
Its been a week that I first decided to leverage the Stride Platform which is a home to liquid staking and is also known as - aka The Liquid Staking Zone; to liquid stake $EVMOS tokens that were lying idle in my wallet. The @Stride team on twitter space had announced the - stEVMOS is now live; which means that users can now stake their $EVMOS to mint the liquid staked derivative stEVMOS. I did first stake 85+ $EVMOS to mint stEVMOS and was yielding an APY of above 131+%. But my original intention was to enter the Defi space by leveraging the minted stEVMOS. And here I'm::
Stake $EVMOS for stEVMOS
And then after some days, I decided to enter the Defi space with this stEVMOS on Osmosis Pool #992 by providing liquidity for EVMOS / stEVMOS . I know its not that big amount a couple of hundred dollars. But then when you are trying the Defi space you need to take all that calculated risk. As the famous saying goes in Crypto - the golden Rule of Crypto - invest only what you can afford to lose.
As you can see, I had to provide 104+ $EVMOS along with 85+ stEVMOS to enter the liquidity pool #992 on Osmosis platform. This was the stEVMOS mint that I received 1 week earlier - the rate of:: Protocol redemption rate :: 1 stEVMOS = 1.007 EVMOS.. And if you go on to mint the same amount of stEVMOS you need to shed more $EVMOS now as the current - Protocol redemption rate :: 1 stEVMOS = 1.019 EVMOS..
After checking on and seeing that the mint of stEVMOS is giving decent profit/benefits. The plan now was to enter the defi space with this minted stEVMOS and which I did finally today by providing liquidity for EVMOS / stEVMOS. In order to increase the APRs, I bonded the assets for 14 days. Locking up your shares for longer durations helps you earn higher APRs and for me it got me extra - Incentive of 26% APR by entering Level 2 - where you Bond liquidity
Finally, the earnings from the EVMOS - stEVMOS is getting me close to $0.10 cents daily; which I know is not a big amount. But what really matters is entering a Defi space and trying something new. The liquidity stake is something new and how to leverage it was my main intentions. Now that things are clear and its getting me a daily income. I would look for ways to further enhance my stake if necessary, else will be happy with what I have invested or also liquidate if at all the need arises. I am though hoping that in near future the liquidate staking is going to make some more noise, so hoping for a better future with liquidity staking.. cheers
Entering EVMOS / stEVMOS Liquidity Pool - After Liquidity Staking of EVMOS...
#strd #rewards #stake #stevmos #defi #staking #liquiditystaking
Image Credits:: stride.zone, osmosis.zone
Best Regards