Stride Staked STARS
Crypto Overview
Overview
Stride Staked STARS (stSTARS) is a liquid staking derivative token representing staked STARS tokens from the Stargaze blockchain in the Cosmos ecosystem. When users stake their STARS through Stride Protocol, they receive stSTARS tokens in return while their original STARS tokens are staked to earn validation rewards.
Purpose and Utility
The primary purpose of stSTARS is to provide liquidity to STARS holders while their tokens are staked. This allows users to maintain exposure to STARS staking rewards while having the flexibility to trade or use their stSTARS tokens in other DeFi applications.
Business Model
The business model revolves around proof-of-stake validation and liquid staking. Users stake STARS tokens through Stride Protocol, receive stSTARS in return, and can use these tokens while earning staking rewards. The protocol takes a small percentage of staking rewards as a fee for providing this service.
Platform Development and Usage
Stride Protocol is actively maintained and developed, with regular updates and improvements to the platform. The protocol is built on established proof-of-stake mechanisms and operates transparently on the blockchain.
Token Distribution and Governance
stSTARS tokens are minted when users stake STARS and burned when they unstake. The token distribution is directly tied to user participation in staking, rather than being controlled by founders or early investors.
Crypto Impact
To assign a comfort level investing in Stride Staked STARS from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Stride Staked STARS.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.