TechFlow reports that Stride, a liquid staking protocol in the Cosmos ecosystem, has announced plans to launch stDYDX in the coming weeks. To encourage adoption of stDYDX, Stride will airdrop 250,000 STRD tokens to users who have liquid-staked DYDX during the past two months.
When users mint stDYDX, their DYDX will be deposited on dYdX Chain, where USDC staking rewards will accrue and be automatically bridged via IBC to Osmosis, then swapped back into DYDX, ensuring the value of stDYDX appreciates relative to DYDX. Users must hold stDYDX for at least 31 days to qualify for the airdrop.
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