Stride, a liquid staking protocol in the Cosmos ecosystem, said it plans to carry out an orderly shutdown of the Stride chain and shift redemptions for its liquid staking tokens to Osmosis. Users can continue redeeming stToken through Stride until Oct. 12. After that date, redemptions will pause while the underlying staked assets complete their unbonding process. Stride expects to launch a redemption pool on Osmosis around Nov. 20.
The protocol said stToken will not expire and users do not need to take any action before the migration. Tokens already deployed on other chains will not need to be bridged back to Stride in order to join the later redemption process. Under the plan, all stTokens including stATOM and stOSMO, along with their corresponding underlying assets, will be moved into Osmosis Transmuter pools and redeemed at fixed ratios.
Stride said its remaining staked assets will be unstaked and transferred into the relevant pools. Once the migration is complete, reward accrual will stop and the fixed redemption ratios will be set. The team added that Stride Labs and the Stride Association have limited treasury reserves and, at the current burn rate, expect funds to run out in February 2027. Stride chain TVL currently stands at about $6 million.
Stride, a liquid staking protocol in the Cosmos ecosystem, said on Sept. 29 that it plans to carry out an orderly wind-down of the Stride chain.
Users can continue redeeming stToken through Stride until Oct. 12. After that, redemptions will be paused while the underlying staked assets complete unbonding. Stride said it expects to launch a redemption pool on Osmosis around Nov. 20.
stToken redemptions will move to Osmosis
According to the plan, stToken will not expire, and users do not need to take any action before the migration. stToken already deployed on other chains will also be eligible for later redemptions without being bridged back to Stride.
Stride said all stTokens, including stATOM and stOSMO, and their corresponding underlying assets will be moved into Transmuter pools on Osmosis and exchanged at fixed redemption ratios. All remaining staked assets will be unstaked and transferred into the relevant pools. After the migration is completed, reward accrual will stop and the fixed redemption ratios will be locked in.
The team said users will then be able to swap stToken for the corresponding underlying assets on Osmosis.
Team cites limited treasury reserves
Stride said Stride Labs and the Stride Association currently have limited reserves. At the current spending rate, those funds are expected to be depleted in February 2027.
The Stride chain currently has total value locked of about $6 million. The team said continuing to operate the chain without sustained funding support would not be responsible, and that it therefore chose to complete an orderly exit while it still has enough resources, with the safe withdrawal of user funds set as the top priority.
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