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- Stride Protocol integrates Namada’s shielded multi-asset hub.
- The integration aims to enable shielding for LSTs on Stride protocol.
- This will enhance privacy and data protection across Cosmos and the broader blockchain ecosystem.
Multichain liquid staking protocol Stride announced its integration with Namada, a shielded multi-asset hub that rewards users for protecting the multichain. The integration will allow Namada to shield Stride’s liquid staking tokens (LSTs) and utilize the LSTs to strengthen Namada’s shielded set. According to Stride Protocol’s team, the integration will “unlock industry-leading data protection for users on its platform” and provide data protection for all its LSTs.
Holders of Stride’s LSTs such as stATOM, stTIA, stDYDX and others can now utilize their tokens on Namada and increase their opportunities to earn extra rewards for protecting the multichain. By leveraging Namada’s multi-asset shielded pool (MASP), holders of Stride’s LSTs will be able to collect $NAM shielding rewards for protecting their data and strengthening Namada’s shielded set.
On the integration, Dieter Fishbein, CCO of Heliax, a public goods lab developing Namada, stated:
“Stride is the leading liquid staking solution for the Cosmos ecosystem, so we’re excited to enable Namada shielding for users of all Stride LSTs. This integration is a big step towards the goal of bringing data protection capabilities to DeFi not just on Cosmos but the broader crypto ecosystem.”
Expanding the utility of Stride Protocol’s LSTs
Liquid staking allows users to utilize the value of their staking assets, contrary to traditional staking. Traditional staking allows users to get rewards for securing the blockchain but users cannot deploy these staked assets in other DeFi protocols. With the integration, Stride protocol’s LSTs can now be utilized within Namada’s shielded set, allowing users to leave their tokens shielded on the platform for extra rewards.
Simply, major LSTs that are deployed on Namada’s shielded set will be eligible for staking rewards, as well as, shielding rewards ($NAM tokens) simultaneously. This means Stride’s LST users will have more rewarding opportunities on the same assets while providing industry-leading data protection to other users on Namada.
“Namada and Stride protocol will work together synergistically,” Stride Contributor John Galt stated. “With Stride LSTs, users will be able to earn staking rewards on their Cosmos tokens while using Namada’s shielded pool and collecting NAM shielding rewards.”
Leveraging zero-knowledge technology, Namada enables users to have full control over the sharing of personal data in on-chain activities. The platform provides modular data protection capabilities to any existing blockchain network or decentralized application, with support for shielded cross-chain transfers. The latest integration will further strengthen Namada’s shielded set, as the level of data protection increases as more assets (additional LSTs) are held within the platform’s MASP.
LST holders provide more security and privacy to multi chains within the shielded set and in turn are rewarded for strengthening data protection for everyone. This is expected to enhance data protection, allowing users to hold and transact tokens and NFTs while having full control over sharing their personally identifiable information. Additionally, they can shield their data even when interacting with transparent blockchains and seeding new accounts.
Image: Stride Protocol x Namada
