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Summary
- stSOMM is a token received by staking SOMM with Stride.
- SOMM is the native token of the Sommelier project, a prominent DeFi strategy protocol in the Cosmos Ecosystem.
- Staking SOMM with Stride allows users to mint stSOMM, redeemable for SOMM at a 1:1 ratio, subject to the unbonding period on the Sommelier blockchain.
- Stride supports liquid staking SOMM on its mainnet, launched in late July 2022.
- stSOMM allows users to retain liquidity in their staked tokens while earning staking rewards.
- Stride is a multichain liquid staking zone (
Introducing Stride Staked SOMM: Unlocking the Power of Staking
stSOMM is the token received in exchange for staking SOMM with Stride, a pioneering liquid staking solution. SOMM is the native token of Sommelier, a prominent decentralized finance (DeFi) strategy protocol within the Cosmos Ecosystem. By staking SOMM with Stride, users can mint stSOMM, which is redeemable for SOMM at a 1:1 ratio, subject to the unbonding period on the Sommelier blockchain. Stride has successfully launched its mainnet in late July 2022, thereby enabling users to engage in liquid staking of SOMM. With stSOMM, users can seamlessly retain liquidity in their staked tokens while simultaneously earning staking rewards. stSOMM is now available for staking on Stride at app.stride.zone.
Stride is a pioneering multichain liquid staking zone (appchain) within the Cosmos Ecosystem, empowering users to stake a diverse range of IBC-compatible tokens. In return, users receive stTokens, which are fully redeemable for the original token at a 1:1 ratio. By leveraging Stride’s staking capabilities, users can earn staking rewards while maintaining liquidity in the form of stTokens, thereby unlocking access to Cosmos DeFi opportunities and pursuing additional yield-generating avenues.