Stride
DeFi · Decentralized Liquid StakingToken Transparency Filing
Project and Team
Description of Project
A narrative description of the purpose of the project and its operation in layman's terms is provided.
Stride is the IBC DEX built on Cosmos Hub, with integrated liquid staking. Stride is built in partnership with Interchain Labs and with an investment from Interchain Foundation.
Disclosure of Revenue Streams
A narrative description of the Project's primary sources of revenue is provided, broken out by entity (e.g. Foundation, Labs, DAOs, or other).
STRD governance is in charge of allocating all protocol revenue sources. Currently Stride it gets revenue from its LST product. Similar to Lido, it charges a 10% commission of all staking rewards. After Stride DEX is live, there will be a protocol fee that will collect fees on swaps.
Equity-Token Relationship
The Project must clearly disclose the rights, value accrual mechanisms, and distinctions between token holders and DevCo equity holders. Any value allocated specifically to equity holders (e.g., dividends, profit-sharing) must be communicated separately from value accruing to token holders.
Historically, all protocol revenue has gone to the token; we have no plans to change this. Taking revenue from the Stride protocol would require an onchain governance vote. The only circumstances we could foresee in which Labs asks for revenue is to fund growth / development costs. Specific commitments: We do not plan to implement frontend fees for the DEX (Uniswap-style setup). We do not plan to return cash flow to equity through dividends or share repurchases.
Disclosure of Advisory Billings to the Foundation
If core team members are compensated by any Tokens allocated to the Foundation through advisory services or similar agreements, or by any other payment method (i.e. fiat), these payments must be disclosed. Note, foundation team members known and exclusively compensated by the Foundation are excluded.
The Stride Association has never paid or had any advisory deals with any Stride insiders (e.g. founders or investors).
Known Project Team
The identities of key team members (e.g., founders, CEO, CTO, COO of Labs, President of Foundation, etc.) are publicly disclosed.
Token Supply and Allocation
Governance & Token Documentation Provided
The Project must provide publicly accessible documentation covering the Token's governance rights, rights to value accrual, any additional utility, and the mechanism by which token governance is implemented (e.g. an insider multi-sig).
Initial Allocation
Disclosed information explaining the launch and initial supply that includes: the total number of tokens issued, the category of the recipient (team, investor, foundation, community), the total supply of the token and if it is capped, and the initial vesting schedule.
Vesting Insider Tokens
All Insider Token allocations (team, investor, foundation) must be transparent, per the disclosed Initial Allocation. If vesting occurs at a custodian, clearly disclose the employee categories and associated vesting schedules clearly in your documentation.
Nearly all vesting occurs on-chain, the Stride genesis file that details this vesting schedule is here. This is visible onchain as well. These match the vesting scheduleslaid out in the tokenomics page here. All pre-TGE employees, founders, and investors are vested onchain. For post-TGE employees, vesting is handled offchain for tax and operational reasons. This amounts to a total of 0.73% of FDV; employees have a 1 year cliff, followed by quarterly vesting, for a total minimum vesting of 3 years and a maximum of 5 years (varies by grant).
Labelled Unissued Token Wallets
Addresses that hold any Unissued Tokens (e.g. foundation, future contributors, treasury) must be publicly labelled (address listed in docs) and be held in distinct wallets. This includes the foundation allocation. The party (e.g. team, foundation, DAO) that controls the funds must also be disclosed.
Some association labels are on governance props, in this public google sheet:https://docs.google.com/spreadsheets/d/1HnX6-hFd98hcpwIx_05tfUwBYlYZbZygh5peZEwZ0qU/edit?gid=0#gid=0 Some operational and Stride Labs wallets are not labeled.
- Wallet: Stride1czvrk3jkvtj8m27kqsqu2yrkhw3h3ykwj3rxh6
- Label: Association Ops Wallet
- Source: Tokenomics Adjustment Prop
- Wallet: Stride18j8z84rq9yk4jj3vc4wjep37c6ehgvfw75vela
- Label: stTIA Clawback Funds
- Source: Tokenomics Adjustment Prop
- Wallet: Stride1yz3mp7c2m739nftfrv5r3h6j64aqp95f3degpf
- Label: Incentives distribution multisig
- Source: Tokenomics Adjustment Prop
- Wallet: Stride1auhjs4zgp3ahvrpkspf088r2psz7wpyrypcnal
- Label: Association Wallet
- Source: SHD liquidity matching prop
- Wallet: Stars17z6yy8vfgklgej9m848jm7rkp270gd9pl2exap
- Label: Stride Badkids holding wallet
- Source: Mammoths Prop
Airdrop Process
The project must disclose all airdrop eligibility criteria clearly and provide a full CSV list of recipients, including addresses and amount received.
All criteria for Stride airdrops were clearly disclosed and defined up front in blog posts, before the airdrop started. https://x.com/search?q=airdrop%20(from%3Astride_zone)&src=typed_query The recipient lists for Stride airdrops are publicly viewable through Stride RPCs. This data is also in CSVs on github. The initial v1 Stride airdrop, which represents the majority of airdrops given is here. Additional airdrop allocations are located here and here. CSVs for later airdrops (stTIA, stDYM, stDYDX) are visible in these CSVs, here and here, and aCSVs for the stDYDX airdrop is visible here. Stride's blog posts have always clearly outlined the airdrop criteria before the airdrop went live, and has not changed them during airdrops. The blogs were live before, during, and after the airdrops. Recently, we did a rebrand (with the DEX launch) and removed old blog posts, butthey are still visible here: https://web.archive.org/web/20250120014456/https://www.stride.zone/blog/
Locked Staking Reward to Insiders
Disclose information on insiders (Team, Investors, Foundation, Advisors) tokens that are locked and can earn rewards.
Locked insiders can earn staking rewards, but didn't take them for the first year (when 50% of staking rewards to locked tokens were emitted, 2.5% of STRD FDV). After year 1, we allowed insiders to stake and take staking rewards, but these were mainly on unlocked tokens, the overall magnitude was very small.
Future Token Issuance
The project commits that any future token issuance (e.g., minting or emissions outside scheduled vesting) will be publicly disclosed and justified on an official platform (e.g., governance forum, blog, or docs).
No unplanned token issuance has ever occurred, and none is ever expected to occur. If one were to occur, it would need to occur through Stride governance and the Stride forum, as only STRD governance can enact the protocol changes to mint new tokens. Inflationary tokens are minted on a schedule that was defined at launch here.
Future & Related Token Launches
The team discloses all tokens launched by its key team members in the past and explicitly lays out its philosophy around launching new tokens, related to the project or otherwise. (e.g. "We do not plan to launch additional tokens" or "Any additional tokens will be given 1:1 to existing token holders who can then vote on proposals submitted by the management team.")
The team hasn't launched additional tokens since founding Stride, and we currently have no plans to launch new tokens. This is despite having launched multiple products over the years. A key example, Stride is now building a DEX, greatly expanding its TAM and potential revenue beyond liquid staking. This is fully controlled by the existing STRD token.
Transactions & Market Structure
Insider & Related Person Transactions
The project commits to disclosing any material Related Party & Insider Transaction within 30 days and includes: The nature of the transaction, the Related Person, the basis on which the person is a Related Person, and the number of tokens involved in the transaction. This includes tokens issued by the foundation.
The project commits to disclosing related party transactions within 30 days.
Prior Token Sales & Fundraising
Disclosed information of previous fundraising rounds, material OTC rounds to investors, or discounted market maker sales involving the Project and its Token that includes: the date of sale, number of tokens sold, and the vesting schedule of these tokens. The Project commits to disclosing any material OTC deal involving token sales and purchases by the foundation within 30 days.
All funding rounds, are disclosed on the Stride website here. They all include the size of the round and date, but not the valuation. The only round without those details is Stride’s current round with the ICF; they have asked us to not disclose terms.
Transparent Market Maker Deals & Exchange Listings
Projects must disclose key details of market making and centralized exchange agreements affecting token liquidity, including: names of all market makers & centralized exchanges involved, the token allocation for each (as % of total supply), and the duration of each agreement.
Stride Association works with Amber, using a monthly retainer model (no options), they have been loaned 308k STRD. The agreement is renewed annually in October. We have not disclosed any details about Centralized Exchange deals, but we have never given exchanges a material amount of STRD to any exchanges. There is no ongoing deal with any exchange. ALL OTC rounds from the Association are disclosed here, with full details provided on 3 of 4. We can commit to disclosing OTC rounds from Association within 30 days.
Financial Disclosure
Disclosure of Assets and Cash Flow
The Project commits to providing updates to token holders on a quarterly basis via forum posts, live dashboards, or reports that cover core project KPIs, changes to Token supply or allocations, and disclosure of top line revenue and expenses. The Project may engage third-party contractors to prepare and deliver these updates.
We have not committed to this yet, but we can commit to it. All of this data is already public, but we have not gone through the work of making it easily visible on onecentralized dashboard. Project KPIs: All on defillama today, we will keep adding KPIs there. Changes to token supply / allocations: Can only happen via governance vote, so must gothrough the forum then onchain. Topline revenue: Onchain Expenses: Any expenses that go through the DAO must first go to an onchain vote (we don'tcontrol any DAO wallets). Relevant links: Gov forum Tokenomics post #1, #2DBA report
Public Token Holder Relations Reports
The foundation's assets or working capital are held onchain and publicly labelled, providing the ability to track asset holdings, revenue, and expenses. Or, the foundation publishes a quarterly, publicly available financial report of its assets, working capital, revenue and expenses.
Stride has several relevant wallets: -Community Pool -Community Growth -Community Security -Burn (total amount burned can be seen here, and is displayed more legibly here) -Incentive Treasury -Foundation Treasury
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Stride is solely responsible for the content, accuracy, and legality of its disclosures.
