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Odaily Planet Daily News Cosmos-based liquidity staking protocol Stride plans to transition from the existing STRD token model to Cosmos' Interchain Security (ICS) system, which is powered by ATOM tokens.
Stride contributor Ian Unsworth said: "The transition likely occurred between 17:00 and 21:30 UTC on Wednesday at block 4616678."
Unsworth added: "While Stride TVL is $35+M, it is only economically secure at $19M by bonding network tokens. After the ICS transition, block production/security will be passed on to the ATOM validator set , which would increase the economic security of the network by approximately 11,935.2%.”
According to the official blog, the transition to ICS will increase Stride’s economic security from approximately $25 million to $2.3 billion, making the protocol more resistant to hacking. (CoinDesk)