Cosmos-based liquid staking protocol Stride will pause plans to convert its native token $STRD to the Cosmos Hub’s $ATOM token.
A few days ago, Stride Labs co-founder Vishal Talasani proposed at Cosmoverse in Istanbul that Stride should merge with Cosmos Hub, the core blockchain in the Cosmos ecosystem.
However, the team tweeted that after a week of public discussions, the Cosmos Hub + Stride community has paused the STRD/ATOM conversion, and it can be assumed that it is on hold, but the team hasn't completely given up.
The Stride team said that judging by the reaction of the Cosmos Hub and Stride communities, there is too much division and not enough consensus about the feasibility of the conversion idea at this point. Perhaps this will change at some point in the future, but for now, the team feel it would be inappropriate to move forward to working on concrete details about the conversion.
Though the conversion conversation has been momentarily tabled, the Stride team said it will continue to focus on providing its liquid staking services.
Previously, Stride released a governance proposal in the Cosmos Hub forum, proposing to convert the entire supply of its token $STRD to $ATOM and use $ATOM as the new governance token to increase the decentralization of the protocol.
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