Hey All,
Stride Platform is a home to liquid staking it is aka The Liquid Staking Zone. I have earlier leveraged this platform to liquid stake 50+ stATOM and with that went on to use these stATOM further to enter the defi space by providing liquidity for $ATOM - stATOM.. More details on that can be found on this post here - STRD Staking - Experience Recently the @Stride team on twitter space announced the - stEVMOS is now live; which means that users can now take their $EVMOS to mint the liquid staked derivative stEVMOS. Further this stEVMOS, along with earning staking rewards would also provide DeFi yield at the same time.
Stake $EVMOS for stEVMOS
I had 85+ liquid $EVMOS lying ideal in my wallet. And all these $EVMOS has been collected via the daily $EVMOS staking rewards. Staking 85+ $EVMOS got me 85.3+ stEVMOS and as you can see all the stEVMOS were staked to receive and APR of 131+% as of writing this article. Right now, I have not entered the Defi space, which I can easily by using the stEVMOS minted. The plan is to first see what are the APRs being provided for the liquidity pool EVMOS-stEVMOS and based on that will decided to enter the LP pool or not.
The value of 1 stEVMOS if redeemed through the Stride protocol redemption rate grows predictably as staking rewards accrue.
As entering the LP pool will have a bounding period of 14 days at least. So, ideally if rewards aren't favorable, I wouldn't be interested in entering the LP pools. I am hopefully that this liquid staking of $EVMOS on Stride is going to be a good experience. At the moment stEVMOS mint that I did today was at the rate of:: Protocol redemption rate :: 1 stEVMOS = 1.007 EVMOS Right now, I'll continue to HODL stEVMOS and will revisit back in 15 days to see what is the incremental value of my stEVMOS in my $stride wallet. Also if the LP pool of EVMOS-stEVMOS are giving out decent APR then will plan to enter those LP pool as well... cheers
Liquid Staking - stEVMOS is now live on STRIDE Platform...
#strd #rewards #stake #stevmos #defi #staking
Image Credits:: stride.zone,
Best Regards