Stride proposal: Plan to convert STRD into ATOM and make ATOM the sole governance token
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Stride proposal: Plan to convert STRD into ATOM and make ATOM the sole governance token
Cosmos ecosystem liquid staking protocol Stride has released a proposal in the conceptual stage, which proposes converting all STRD tokens into ATOM. ATOm would become the sole governance token and receive all rewards from the Stride protocol. Stride stated this move aims to further decentralize the protocol and position Stride as a "satellite chain" of Cosmos Hub, focusing development efforts more closely on Cosmos Hub.
Navigating Web3 tides with focused insightsTechFlow reported that Stride, a liquid staking protocol in the Cosmos ecosystem, has released a proposal currently in conceptual stage. The proposal suggests converting all of its STRD tokens into ATOM, with ATOM becoming the sole governance token and entitled to all rewards from the Stride protocol.
Stride stated that this move aims to further decentralize the protocol and position Stride as a "satellite chain" of Cosmos Hub, focusing development efforts more specifically on Cosmos Hub.
