Cosmos Stride Makes Bold Transition to ATOM-Supported Security Model for Enhanced Eco-Liquidity
- Cosmos Stride staking protocol switches to more secure model backed by ATOM.
- Stride will be secured with staked ATOMs, increasing economic security by 11,935.2%.
- Migration to the ICS system fortifies the liquid staking protocol against potential hacking attempts and enhances overall resilience.
Cosmos Stride, the eco-liquidity staking protocol, has announced its plans to transition from the existing Stride token model (STRD) to the Cosmos Interchain Security (ICS) system, which is backed by the ATOM token.
This strategic move will enhance the security and economic stability of the Stride ecosystem.
Once the transition is completed, Stride will be secured with staked ATOMs, replacing the previous reliance on STRD tokens. Additionally, the block production responsibilities will be transferred from the existing Stride validator suite to Cosmos’ validator suite.
According to Ian Unsworth, a contributor to the Stride project, the transition is expected to occur around block height 4616678. Despite Stride currently having over $35 million in total locked value, only $19 million is secured through bonded network tokens. The adoption of the ICS system will significantly increase the economic security of the Stride network by approximately 11,935.2%.
The official blog post further explains that the migration to the ICS system will bolster Stride’s economic security from approximately $25 million to an impressive $2.3 billion. This substantial increase in economic security aims to fortify the liquid staking protocol against potential hacking attempts and enhance its overall resilience.
By leveraging the ATOM token and integrating with the proven security measures provided by the Cosmos Interchain Security system, Stride aims to offer its users a more robust and secure staking experience. The transition will not only increase the economic security of the network but also foster confidence among participants.
The move to the ATOM-supported ICS system marks a significant step forward for Stride and the eco-liquidity staking ecosystem as a whole. It underscores the commitment of the project to provide a reliable and secure platform for users to participate in staking activities and benefit from the rewards.
Stride contributors and users are encouraged to stay updated on the latest developments and any necessary actions required during the migration. The Stride team remains committed to ensuring a smooth and secure transition, enhancing the platform’s capabilities and offering increased peace of mind for its users.