Stride proposes an orderly shutdown of the chain and migration of redemptions to Osmosis
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AT A GLANCE
Stride The proposal is to shut down the Stride chain and move stToken redemption to Osmosis。
Article
Cosmos staking protocol Stride proposes an orderly shutdown of the chain and migration to Osmosis
PANews September 29 news, a Cosmos ecosystem liquid staking protocol Stride posted on X that, as operating funds are about to run out, it proposes an orderly shutdown of Stride chain, currently TVL approximately 6000000 USD. Users can normally redeem before October 12, after which redemptions will be suspended; expected to resume around stToken; thereafter redemptions will be suspended, expected to resume around November 20 around on Osmosis on,stToken will not expire. The project team stated that, at the current burn rate, funds will be exhausted in 2027 years; after migration, each February such as stATOM and stOSMO will enter stToken at a fixed exchange rate into the Osmosis conversion pool, and redemption will become a swap, with no further staking yield generated after migration is completed.
PANews reported that Stride proposed an orderly shutdown of the Stride chain because its operating funds are about to run out.
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currently TVL approximately 6000000 USD。
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Users can normally redeem before October 12, after which redemptions will be suspended; expected to resume around stToken; thereafter redemptions will be suspended, expected to resume around November 20 around on Osmosis to resume redemptions.
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stToken It will not expire.
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The project team says that, at the current burn rate, funds will be depleted in 2027 years February.
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After migration, each of stATOM, stOSMO, and other stToken will enter the conversion pool at a fixed exchange rate, and redemption will become a single Osmosis transaction,swap。
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No staking rewards will be generated after the migration is completed.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Stride Proposes discontinuing operation of its own chain and transferring the redemption arrangements for stToken to Osmosis。October 12 redemptions will be temporarily suspended, with resumption expected in approximately November 20 After the migration is complete,stToken will no longer generate staking rewards.
Why it matters to readers
Users holding the relevant stToken may be unable to redeem for a period of time and should monitor the post-migration conversion method and changes in returns.
If you hold Stride of stToken you need to note October 12 and the expected November 20 these two redemption time points, as well as the change that staking rewards will no longer accrue after the migration.
Risks and unknowns
Current evidence indicates that this is a proposal by the project team; it does not clearly state whether the proposal has been approved.
Not provided by the evidence Stride the original post on the X platform or a formal governance proposal.
Osmosis The launch time, fixed exchange rate, and liquidity details of the conversion pool have not yet been clarified.
The expected time for redemption to resume may change.
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TVL
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