Stride Staked DYMPrice

(STDYM)

stDYM is a "liquid staking token" (LST) designed to provide liquidity to staked DYM. By staking your DYM through the Stride protocol, you receive stDYM in return. This mechanism allows you to continue earning staking rewards while keeping your assets flexible for use in various decentralized finance (DeFi) activities, such as lending, trading, or providing liquidity across different platforms. It bridges the gap between earning staking yield and maintaining asset liquidity.

No, stDYM is a non-rebasing token. Unlike rebasing tokens where the number of tokens in your wallet increases over time to reflect staking rewards, the quantity of stDYM tokens you hold remains constant. Instead, the value of your stDYM relative to DYM appreciates over time. The redemption price of one stDYM token against native DYM increases as staking rewards accrue within the protocol, meaning 1 stDYM will be redeemable for more than 1 DYM over time.

Yes, generally holding stDYM makes you eligible for Dymension "RollApp" airdrops. This is a common and important question for users. Stride actively collaborates with the Dymension ecosystem to ensure that stDYM holders are included in snapshot events for various new RollApps. Stride maintains a publicly accessible "Snapshot Database" which these emerging RollApp projects utilize to distribute their airdrops to liquid stakers, recognizing their participation and contribution to the ecosystem.

If you choose to redeem your stDYM for native DYM directly through the Stride protocol, there is a mandatory 21-day unbonding period. This duration is consistent with and mirrors Dymension’s native staking unbonding rules. During this period, your assets are in an unbonding state and cannot be accessed. If you prefer to exit your position more quickly without waiting the full 21 days, you can sell your stDYM for DYM or other cryptocurrencies on a decentralized exchange, though this might involve a small price difference or slippage.

Stride charges a fee on the staking rewards generated by stDYM. Specifically, the protocol takes a 10% fee on all staking rewards earned. This fee is automatically deducted from the rewards before they contribute to the increasing redemption value of stDYM. The collected fees are utilized to incentivize and reward STRD token stakers, ensuring the security and operational maintenance of the Stride protocol, contributing to its long-term sustainability and development.

Currently, no, holding stDYM does not directly grant you the ability to vote in Dymension governance proposals. When you liquid stake your DYM, the voting power is held by the validators controlled by the Stride protocol. While Stride typically opts to "Abstain" from votes or follows the majority consensus, the team is actively developing and working on "governance inheritance" features. These future functionalities aim to empower stDYM holders to participate more directly in the governance of the underlying Dymension network.