Stride, the Cosmos-based liquid staking protocol, is scheduled to transition to Cosmos' interchain security system powered by ATOM tokens from the existing stride token model.
"While Stride has $35 million plus in total value locked, it only has $19 million of economic security via bonded network tokens. Following the ICS transition, block production/security will be passed to the ATOM validator set, providing roughly a 11,935.2% increase on the economic security of the network," Unsworth added., the shift to ICS will boost Stride's economic security from roughly $25 million to $2.3 billion, making the liquid staking protocol more resilient to hacks.
It means that post-transition, Stride will be secured by staked ATOM instead of STRD tokens and Cosmos' validator set will take over block production from the existing Stride validator set. Stride will essentially become a consumer chain, allowing Hub's validator to participate in its consensus. STRD will continue to have utility, generating staking rewards. At press time, the market capitalization of STRD tokens was $86.7 million, while ATOM boasted a market value of $2.
Source: Digital Coin News (digitalcoinnews.net)
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