2024

Multichain

Stride

Cosmos

May 30, 2024 –– Multichain liquid staking protocol Stride has announced an integration with Namada, the shielded asset hub rewarding users to protect the multichain. Contributors to Stride protocol, the leading liquid staking solution for the Cosmos/IBC ecosystem, say the integration unlocks industry-leading data protection for users of all of its liquid staked tokens (LSTs). 
The integration will allow holders of Stride’s LSTs to utilize their tokens and benefit from the highest possible level of personal data protection. Using Namada’s multi-asset shielded pool (MASP), holders of Stride LSTs will be able to collect NAM shielding rewards for protecting their data and strengthening Namada’s shielded set.&nbsp; 
This technology assures superior data protection by enabling individuals 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. 
Major LSTs will be eligible for Namada shielding rewards (NAM tokens), meaning users can collect both staking rewards and shielding rewards on the same assets while enjoying industry leading data protection guarantees.&nbsp; 
Stride Contributor John Galt stated, “Namada and Stride protocol will work together synergistically. 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.” 
Dieter Fishbein, CCO of Heliax, one of the companies developing Namada, remarked: “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.” 
A Zero Knowledge circuit, Namada’s MASP provides similar functionality to zcash but can support any asset. This enables Namada to provide modular data protection capabilities to any existing blockchain network or decentralized application, with support for shielded cross-chain transfers. Namada’s level of data protection increases as more assets are held shielded, and users are rewarded for strengthening data protection for everyone. 
Although staking tokens are widely considered the lifeblood of DeFi, the process of staking tokens to get rewards means they cannot be deployed in other DeFi protocols. LSTs overcome this obstacle, giving users the chance to get staking rewards while still deploying their tokens as collateral. Consequently, Stride’s high-efficiency LSTs are particularly well-suited for Namada’s shielded set: users can leave their tokens shielded on Namada with the potential of NAM shielding rewards, while simultaneously generating staking rewards. 
About Stride:&nbsp; 
<a href="https://www.stride.zone/">Stride</a> is the leading liquid staking provider for Cosmos blockchains, such as Celestia, dYdX, Osmosis, and Cosmos Hub. Stride’s liquid staked tokens are widely integrated across Cosmos DeFi. 
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About Namada: 
<a href="https://namada.net/">Namada</a> is the shielded asset hub rewarding you to protect the multichain. Enabling full control over the sharing of personal data in on-chain activities, Namada uses advanced ZK cryptography to deliver unparalleled data protection to existing assets, applications, and blockchain networks. Namada introduces shielded cross-chain interactions and passive rewards for holding assets in and strengthening its shielded set.

Stride Protocol Announces Integration with Namada to Build Onchain Data Protection Solutions

WalletInvestor

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