Stride Staked UMEE
Crypto Overview
Overview
Stride Staked UMEE (stUMEE) is a liquid staking token representing staked UMEE tokens on the Stride Protocol. When users stake their UMEE tokens through Stride, they receive stUMEE tokens in return.
Purpose and Utility
The primary purpose of stUMEE is to provide liquidity to UMEE token holders while they stake their tokens. This allows users to maintain exposure to staking rewards while still having a tradeable asset. The stUMEE token represents a claim on the underlying staked UMEE tokens.
Business Model Evaluation
The business model revolves around liquid staking, which involves users depositing UMEE tokens and receiving stUMEE tokens that represent their staked position. The underlying UMEE tokens are staked to secure the network through Proof of Stake validation.
Real-World Adoption
The token is actively used within the Stride ecosystem for liquid staking purposes. Usage metrics show consistent staking activity, though specific adoption numbers are limited.
Development Activity
The Stride protocol, which issues stUMEE, maintains active development and regular updates. The platform continues to expand its liquid staking offerings across multiple Cosmos ecosystem tokens.
Token Distribution
The stUMEE token supply is directly correlated to the amount of UMEE tokens staked through the Stride protocol. New stUMEE tokens are minted when users stake UMEE, and burned when they unstake.
Crypto Impact
To assign a comfort level investing in Stride Staked UMEE 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 UMEE.
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.