Stride Staked Atom STATOM
Stride Staked Atom is the token received in exchange for staking ATOM with Stride. STATOM is redeemable 1:1 for ATOM, subject to the 21 day unbonding period on Cosmos. Stride is currently in the public testnet phase with 100+ validators, and supports staking ATOM in return for STATOM, with the intention to add functionality to many more zones (with the token for each zone having its own stToken). Mainnet will launch in late July 2022. More background on Stride (taken from the Stride Token $STRD application): Stride is a multichain liquid staking zone (appchain) on the Cosmos Blockchain. Stride allows users to stake any IBC-compatible tokens, and receive stTokens in return, which are redeemable for the original token at a 1:1 ratio. By staking their tokens using Stride, users will be able to earn staking rewards, while also retaining liquidity in the form of stTokens, which will allow them to take advantage of Cosmos DeFi and pursue more yields there. Stride is currenty in the public testnet phase and is backed by some of the top validators and investors in the Cosmos ecosystem such as Imperator, Everstake, 1Confirmation, Pantera, North Island Ventures. The Stride Token is the governance token of the Stride Zone, allowing holders to vote on important decisions such as the distribution of staked tokens to each validator, the onboarding of new validators, and other protocol upgrades and improvements. The full spec for the Stride token will be launched soon, with Stride’s mainnet launch this month. Tokens will be given to early adopters and testnet users.