Stride Staked Osmo (STOSMO) is a liquid staking token (LST) that represents staked OSMO, the native token of the Osmosis Zone within the Cosmos ecosystem. It allows users to retain liquidity while earning staking rewards, with the ability to convert stOSMO back to OSMO at a 1:1 ratio. This token is part of Stride, a multichain liquid staking zone that supports staking various IBC-compatible tokens, providing users with a versatile asset for DeFi engagements.
Stride Staked OSMO (stOSMO) is a representative token for staked OSMO, the native token of the Osmosis Zone within the Cosmos ecosystem. It is derived through the process of liquid staking OSMO using the Stride protocol. stOSMO allows users to convert staked OSMO into a liquid token, which can be seamlessly transferred, traded, and used in DeFi activities while retaining liquidity and earning staking rewards.
Key Features and Uses- Liquid Staking: stOSMO is a liquid staking token (LST) that enables users to stake OSMO and receive stOSMO, which can be redeemed for OSMO at a 1:1 ratio, subject to the unbonding period on OSMO.
- DeFi Engagement: stOSMO can be used in various DeFi activities, offering users the benefits of liquidity and staking rewards simultaneously.
- Staking Rewards: stOSMO provides a staking reward of 9.90% APY, allowing users to earn passive income while retaining liquidity.
- Liquidity Provision: Users can provide liquidity for stOSMO on Osmosis, which offers a high yield compared to traditional OSMO staking and does not incur impermanent loss.
- Trading: stOSMO can be bought and sold on decentralized and centralized exchanges, and automated trading bots can be used to manage trades efficiently.
To store Stride Staked OSMO (stOSMO) tokens, you can use a Keplr wallet. Here's a step-by-step guide:
Install the Keplr Extension:
- Install the Keplr extension for Chrome.
- You can create a new account, import an account from a seed phrase, or connect the extension with your Ledger device.
Fund Your Keplr Wallet:
- Open your Keplr wallet extension in your browser.
- Click on the "Deposit" button and copy your Osmosis address.
- Initiate a withdrawal or send transaction and paste the Osmosis wallet address as the recipient.
Manage Your stOSMO Tokens:
- Once you have stOSMO tokens in your wallet, you can manage them through the Keplr dashboard.
- You can track your stOSMO balance and use these tokens for various DeFi activities.
By following these steps, you can securely store and manage your stOSMO tokens using a Keplr wallet.
To buy Stride Staked OSMO (stOSMO) tokens, you can follow these steps:
Swap Your Tokens: You can swap your existing tokens for stOSMO. This process involves exchanging your tokens for stOSMO, which can be done through various platforms that support stOSMO.
Stake with Stride Directly: You can stake your OSMO tokens directly with Stride to receive stOSMO. This method involves staking your OSMO tokens through the Stride protocol, which will issue stOSMO tokens in return.
Use a Crypto Exchange: You can purchase stOSMO directly from a cryptocurrency exchange that supports stOSMO, such as Gate.io.