Stride's Generous Airdrop: 5 Million STRD Tokens for stTIA Holders

Interchain liquid staking solution, Stride, to distribute $18 million worth of STRD tokens.

In a significant move, Stride has unveiled plans to airdrop a substantial 5 million STRD tokens, valued at $18 million, to stTIA token holders over the next 150 days. The objective behind this airdrop is aligned with the vision of transforming stTIA into "modular money," as highlighted by Riley Edmunds, co-founder of Stride Labs.

Revolutionizing On-Chain Usage

As proof-of-stake tokens like ATOM encounter challenges in gaining on-chain traction within the Cosmos ecosystem, Stride sees potential in Celestia's TIA token to chart a distinct course. Edmunds emphasizes the importance of having a "secure, neutral, airdrop-inclusive liquid-staked" TIA token, fostering increased on-chain usage and velocity.

The 5 million STRD tokens represent 5% of the total token supply, marking one of Stride's most significant airdrops to date.

Unique Airdrop Eligibility Criteria

Unlike traditional airdrop models, Stride introduces a straightforward eligibility criterion for STRD tokens. Holders of stTIA tokens within the Stride protocol or those trading them on a decentralized exchange (DEX) qualify for the airdrop.

During the initial five days post-launch, only stTIA held on the Stride blockchain will be eligible. After Monday, Feb. 5, at 5 am ET, eligibility extends to stTIA on Osmosis and Neutron blockchains. Whitelisted liquidity pools on these DEXs will also permit participation in the airdrop.

Phased Airdrop Process

The airdrop unfolds across two phases over 150 days. In the initial 60 days, 50,000 STRD tokens daily will be allocated pro-rata to addresses holding stTIA in eligible locations. The subsequent 90 days will see 22,222 STRD tokens allocated daily to eligible addresses.

After receiving an airdrop allocation, stTIA holders must wait 180 days before claiming their STRD tokens, with vesting beginning upon claiming.

Commitment to Airdrop Opportunities

While Stride cannot assure continuous eligibility for airdrops to TIA stakers, Edmunds assures that Stride contributors are actively seeking opportunities and collaborations to enhance airdrop benefits for stTIA holders. Regular snapshots of stTIA holders will be provided on the project's website to facilitate their inclusion in future airdrops.

In summary, Stride's substantial airdrop initiative aims to empower stTIA holders, fostering the vision of modular money and increased on-chain utility within the evolving Cosmos ecosystem.