Try Quests to earn cryptoStride Asset Profile on Osmosis
The $STRD token has been one of the top performing tokens in all of crypto in the recent weeks amongst the news of st-Tokens being integrated and used on many DEXes and platforms in the Cosmos ecosystem.
In this dashboard I will be taking a look at the adoption of st-Tokens on the Osmosis DEX as well as on the Mars money markets.
Follow along to find:
- That the stATOM / ATOM pool has become to be the #2 biggest pool on Osmosis
- That more than $700k USD worth of $stATOM have been deposited into Mars protocol
- That the number of wallets holding any $st-Tokens almost 6x'd since the start of the year
And much more...
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Chart Above ⬆️
This chart is as cool as it looks:
st-Tokens are minted by giving your assets to Stride. Stride will stake those assets and give you st-Tokens in return. But where to the staking rewards go?
Simple: They are being used to effectively "buy and burn" (in pratice just increasing the redemption price) the stTokens. This causes their price to increase exponentially compared to the base asset.
The chart above shows a linear increase, but it's Log scale, so the underlying price actually changes exponentially!