Stride Proposes Closing Cosmos Chain, Moving Redemptions to Osmosis
Users can redeem stTokens through Oct. 12. Redemptions are expected to resume on Osmosis around Nov. 20, with tokens remaining valid.
Stride has proposed shutting down its Cosmos blockchain as operating funds approach exhaustion and moving stToken redemptions to Osmosis, a change that would pause withdrawals during the transition.
Users can redeem stTokens through Oct. 12 under the current process. Redemptions are expected to resume on Osmosis around Nov. 20, while the tokens will remain valid during the transition.
Stride currently has about $6 million in total value locked. Its projected cash runway is expected to last until February 2027 at the current spending rate.
After the migration, stTokens including stATOM and stOSMO would enter Osmosis conversion pools at fixed exchange rates. Redemption would then be handled as a swap, and the tokens would no longer generate staking rewards once the migration is complete.
The proposal would move redemption operations off the Stride chain while preserving access to the existing stTokens. The first deadline for users is Oct. 12, when the current redemption process is scheduled to stop.
