Hey, everyone. Thanks for coming to our Twitter spaces. So I think we can begin now. We have Robo man gobo who is going to be hosting us from strike. He's basically the growth and be staff team over at strike. Can you guys hear us? If you can hear us, just give us a quick thumbs up and we can get the
very nice to meet you. I think we can get started. So I'll just do a quick introduction as to why we're doing this Twitter spaces. So we have been working closely with strike for actually about a year now, we first listed their ST at them as a collateral on our landing market. And that was actually the very first time that we listed an LST and it was also strikes first LST that got listed as a landing on a landing market as well.
So it has been a long time since then we have now listed I think close to 10 different tokens. Essentially, I think all if not almost all of strikes LSTs are available on Nitron and we were actually the first to get a community grant from their community pool to have STRD incentives for one of our strike LSTs on our landing market. So we have been working together for a really long time and just thought we should do a quick catch up on
what we have been doing, what are the upcoming roadmap that's interesting for both of us and just to make sure our community is aware with the different partnerships that we are doing. So with that, Robo, you want to give a quick introduction to who you are, what you do and what you guys have been working on, what are interesting things that are coming and just share that with the community.
Yeah, hey everyone. I'm Robo. I am growth and BD lead at Stride. So I work a lot on integrations, governance, liquidity, use cases, basically anything that makes a number go up. That's what I help with. And for anyone that's not familiar, Stride is the largest liquid staking provider in the Cosmos ecosystem.
We currently have 13 Cosmos ecosystem liquid staking tokens. So we have, you know, like STAdam, STOsmo, STDYDX. And then here recently, one of the biggest pushes that we've been making is for the modular ecosystem, right? So we launched STTIA back in February alongside a 5 million
STRD airdrop, which is the largest in our history. It's about, you know, about 20, $30 million airdrop. This airdrop is still going on, by the way. So you can, if you go to our website at app.stride.zone, you can mint STTIA and basically hold it on most chains in the Cosmos ecosystem, including, you know, using it on Nitron and DMEX.
And you'll qualify for this airdrop. Excuse me. And then so subsequent to STTIA, we just launched STDYM. This is about a week ago. And since then we've accumulated $3 million worth of TVL for STDYM.
And Nitron was pretty much a day one launch partner for the lending market for STDYM. Currently, I believe somewhere just shy of $50,000 in TVL on Nitron. So people lending there. So very excited about that.
And just wanted to add, I've been really, really impressed with how, you know, DMEX and Nitron have sort of embraced this huge modular boom that's going on. You guys were able to capture a lot of this like TVL for STTIA and, you know, hopefully STDYM as well continues to grow on the protocol.
So that's basically, yeah, where we're at right now and excited to continue to grow.
All right. Thanks so much for sharing that. Yeah, it's been a long time and we have been working so closely and launching a lot of things really quickly.
Like you mentioned, STDYM was a day one launch and we'll continue to be looking out for different assets that you guys list and also different LP versions of those assets.
So like instance, I think Quasar, Quasar Finance has a lot of different STT related or STRAIT assets in an LP position that is concentrated and passively managed.
And we are also looking to list those as a collateral once they have their LP tokens, as in, sorry, receipt tokens. So that's coming soon as well.
So many different ways where we are working closely with the wider Cosmos ecosystem and STRAIT is one of the core pillars between in terms of all of this DeFi activity that's happening.
And speaking of modularity, we do have a like sneak peek, like a little bit of alpha that Demix is also going modular.
So I can't say too much details right now, but just keep a lookout.
We will be releasing a blog post soon about our modular architecture for Demix to enhance the training experience, the security, things like that for our users to give them the best experience on Demix.
I noticed that STRAIT also have been going cross-chain. So recently you guys announced a Hyperlane partnership together with, I think it's related to Eclipse, the layer.
I wanted to find out more about what's that about and is there anything that's interesting that you would like to share with the audience?
Yeah, so this is a really, really exciting integration, something we're very stoked about. STRAIT has sort of always been this, do one thing and do it really well, neutral chain for the Cosmos ecosystem that specializes in LSTs
and doesn't overcomplicate its use cases by slapping on a bunch of DeFi applications on top of this as well.
And sort of like in the truest sense of the word STRAIT is an app chain, right?
So being this kind of neutral layer where STRAIT is sort of like the ideal low complexity bridging hub for the modular ecosystem.
You can take basically TIA or STTIA, route it through STRAIT, and then from there you can use the Hyperlane integration to send it across to a large number of L2s.
Especially L2s that are leveraging Celestia for data availability.
We've deployed this integration on mainnet and we should be connecting to a number of L2s soon to sort of kickstart this use case.
As you mentioned Eclipse, when they go live, but you'll also see a tweet go out later today, you should at least.
And I'll just leak a little bit of alpha here that STRAIT is going to be bridging STTIA to Carrick Network, which is an L2 that leverages Celestia.
Yeah, and there are several others that are coming. So really there's this vision of STRAIT sort of being this neutral bridging hub layer from the Cosmos ecosystem to the modular ecosystem.
And we're hoping that Celestia will kind of be the, or STTIA will kind of be the modular money lifeblood of this ecosystem.
Alright, that sounds really interesting. It was a little bit choppy. I think maybe it's the reception. Which layer tool was that again? Could you repeat that?
Yeah, so there should be a tweet going out later today to the effect that STRAIT will be bridging to Carrick Network.
Okay, yeah, that sounds great. I'll keep a lookout for that tweet and maybe we'll see how we can work with that ecosystem as well.
Speaking about what you just mentioned about STRAIT being a focus on LSTs and not having any external functionalities.
That's where partnerships with DMEX comes into play and makes a lot of sense. There's a lot of natural synergy where we build all of these additional features on top of very safe and secure products like the ones from STRAIT.
And it allows users to be a bit more creative with what they want to do with their assets.
So one of my favorite examples would be if I bring over an ST asset, let's use STTIA, for example, because that's also having air drops even on DMEX on Nitron.
I would then, if I want to hedge it, I would take the STTIA, borrow USDG, which is our stablecoin backed by USDC, and then I would use that as margin to short tier to just hedge it in terms of the risk.
Like the price for the 3D risk. So this way, I'm actually earning the STRAIT air drop on STTIA as well as the STTIA's staking rewards native that is going into the STTIA itself.
So these are some of the, that's just one of the strategies. There are many, many different ways that you can actually play around with different STS sets on DMEX to actually earn more yields in a more diversified or more sophisticated manner depending on your risk profile and your level of understanding and sophistication.
I wanted to also talk a little bit more about where DMEX is going in terms of the modularity aspect. So just a little bit more alpha, we will probably be using one of the DA layers.
I think most of us know which DA layer I'm going to be talking about, but I can't see any names right now. And that's also because it was already mentioned in the previous conversation with Robo, as in his previous message.
So that's coming soon, and that's going to allow us to do a lot of interesting things, including potentially being a sovereign roll up. So those are just ideas that are in the works, nothing is confirmed.
But just thought, it's always nice to share a bit of alpha on Twitter spaces, just to get things a little bit hyped up.
So yeah, we mentioned a bit about the DeFi strategies, and I was just wondering whether Robo, do you see any potential like DeFi strategies that you think can be done on DMEX with the Stripe tokens, with the STS sets that Stripe provides that you want to share about?
Yeah, so I'll just preface that this can probably be done with any ST asset on Nitron, but I will just for now stick with STTIA because I think it's one of the more exciting ways to sort of do this.
Some of you, I'm sure, are familiar with the concept called looping, which basically involves, for example, you can provide STTIA as collateral on Nitron, use that to borrow TIA, take that TIA, use it to mint STTIA again, or swap it for STTIA.
And then again, provide that STTIA as collateral on Nitron. And then you can do this, repeat this sort of as many times as your liquidation parameters allow, and you're of course like risk parameters allow, but this is a way to sort of really get yourself like leveraged exposure to STTIA,
which is good, of course, because this also increases the amount of that you can get from the STTIA airdrop by holding that on Nitron.
So this is a good strategy to sort of take advantage of the airdrop. But of course, you can do this with any ST asset just to sort of increase your staking rewards.
And it's a very strong and common strategy that people will use.
Super cool. That's actually something that I do myself as well. And I actually was thinking of launching an E-mode, efficiency mode for TIA related assets.
So for those who are not familiar, DMEX is I think the only landing market on Cosmos where we have efficiency mode enabled for different for certain assets.
And that's exactly what RVV3 has where if you have certain assets that are very tight together in price, for instance, like your ST assets, your LST and the native asset,
we can specifically increase the LTV for just this tool or this category of assets.
And I was actually doing the math and we can actually increase the TIA LTV or TIA related assets LTV up to like 85 or even 90 percent for users who want to do leverage looping much more capital efficiently.
So that's something that we can do. And if anyone wants, just let us know and we can look into it and get it done probably within the week.
But speaking of this leverage looping, just take note that there is additional things can go wrong, although it hasn't gone wrong.
But you just want to make sure that you keep your health factor in check because our Oracle price does look at not just the redemption rate, but the swap rate on osmosis.
So if it will were to just suddenly dump one of the STTR or TIA related assets, then the Oracle price could reflect the lower amount and that could affect your health factor.
So just make sure you take that into consideration. And especially in this period where the market is a bit more volatile, we actually do offer a decentralized liquidation platform.
So if you go to Nitron slash liquidations, you will actually see all the available positions that are underwater or basically not healthy.
And you can actually liquidate them and earn a bonus as well.
Most of it gets eaten up quite quickly from different users. But every now and then I see one that is available for like an hour.
And now I will go and liquidate it myself as well and I get some bonus. So just take note of the health factor.
But also if you have spare assets, you can take note of people who did not take note of the health factor and you can liquidate them yourself and get some juicy bonuses as well.
So yeah, thanks so much for sharing that useful strategy. And I think that's basically most of the strategies that we want to share about and also most of the developments that we want to share with the community.
Is there anything else that you would like to share?
Just that I would be super psyched to have efficiency mode enabled for ST assets. That would be amazing.
I'd love to automate the process of looping for my own strategies. I think that would be incredible and definitely helpful for people that want to take advantage of the ongoing airdrop as well.
Definitely. If you're interested, I will look into getting that up and hopefully we can do an announcement on that soon.
And on my side, I think that's basically what I wanted to share. Just continue to keep a lookout. This month, we will be coming up with a few more important announcements on the DMEX channel.
So make sure you subscribe and you follow our Twitter as well as our Telegram announcement channel to get up to date with the latest news because we launch new features every single week.
Like this week today, we actually launched the Perp Pool P&L. So if you have been participating in Perp pools, you have been providing liquidity.
I'm looking at the Cosmos Perp pool right now. It's 99% APR. So that's amazing.
If you go into the vault now, you'll be able to see that we have made some improvements to the page layout. You'll see the different markets attached to it and you should be able to start seeing your own P&L as well.
So that's something that has been requested and it's finally here. And we constantly look out for comments and recommendations from the community.
So if there's anything that you want to see on DMEX, just let us know in the Telegram chat or in the Discord channel and we'll take a look.
And we do have a huge backlog, but it eventually gets done. So just continue to engage with us and let us know your thoughts and opinions.
And with that, I think we can add the Telespaces. So thanks so much, Robo by Gobo, for participating in these Telespaces and looking forward to our next one.
Yeah, thank you. Thank you guys so much for having me. I had a blast, so really appreciate it.
Awesome. All right. Thanks so much, everyone, for coming in and see you guys soon. Bye.