Stride's 9th stToken is live - stCMDX. The 38% APR CMDX staking reward no longer has to be forfeited when using CMDX onchain.
14 Jun 2023, 20:50
Stride's 9th stToken is live - stCMDX 🎉
The 38% APR CMDX staking reward no longer has to be forfeited when using CMDX onchain. Now use stCMDX, and keep your staking rewards 🙂
Here's what to expect 👇
First, an stCMDX/CMDX pool has appeared on Comdex’ native DEX, cSwap. The pool uses ranged liquidity, meaning it’s more efficient than a standard constant product pool:
Next, the current "master pool" on cSwap is CMDX/ATOM. But it's hard to incentivize, due to forfeited staking rewards. Based on community discussion, it'll likely be changed to stCMDX/stATOM. If liquidity providers don’t have to forfeit their staking rewards, cost to incentivize would be lower.
Lastly, in time stCMDX is likely to be approved as collateral on Harbor Protocol, so it can be used to mint the $CMST stablecoin.
stCMDX available for minting now!
Expect the announcement of Stride’s 10th stToken to come soon.