What is Stride ($STRD)?
Stride is a Cosmos-native multichain liquid staking platform designed to maximize staking rewards while preserving liquidity . Operating as an independent Cosmos SDK blockchain (zone), Stride allows users to stake assets from any Inter-Blockchain Communication (IBC)-compatible chain (such as Cosmos Hub’s ATOM, Osmosis’s OSMO, and others) and receive liquid staking derivatives (called stTokens) in return . These stTokens can be freely used in decentralized finance (DeFi) applications across the Cosmos ecosystem while the underlying staked assets continue earning staking rewards. This approach—known as liquid staking—unlocks the value of staked assets by enabling simultaneous earning of staking yield and participation in DeFi . When users wish to exit, they can either redeem stTokens 1:1 for the original tokens (after the unbonding period) or swap stTokens instantly on exchanges, reflecting any accrued staking rewards in the increased redemption value .
Stride’s blockchain benefits from Cosmos’s cutting-edge technology and community. It utilizes Tendermint consensus and the Cosmos SDK for security and scalability, and it has adopted Interchain Security (ICS) by becoming a consumer chain of the Cosmos Hub . This means Stride’s network is secured by Cosmos Hub validators, and in return Stride shares 15% of its staking rewards with Cosmos Hub stakers as a reward, aligning incentives between Stride and the broader Cosmos ecosystem . The native token STRD plays a central role in governance and operations: STRD is the governance token of the Stride blockchain, allowing holders to vote on protocol upgrades, validator selection, fee parameters, and other decisions . STRD can also be staked (bonded) within the network to help secure the chain, earning staking rewards paid in STRD and a share of the yield from liquid-staked assets . In addition, the protocol’s revenue (from liquid staking fees and its upcoming DEX called “Stride Swap”) is used to buy back and burn STRD (and a portion of ATOM), which supports the token’s value by reducing supply over time . Overall, Stride aims to be a key infrastructure in Cosmos, bridging staking and DeFi, and has undergone extensive audits and safety measures to protect staked assets .
Key Metrics for STRD Token
As of mid-2025, Stride’s token $STRD has the following key metrics :
These figures indicate that STRD is a mid-cap cryptocurrency. The fixed supply of 100 million means no more than this amount will ever exist, which can make buy-back-and-burn mechanisms and demand growth potentially impactful over the long term . (Note: Prices and market cap are subject to change; the above reflects the value at the time of writing.)
Michael Saylor’s View on STRD
Michael Saylor, co-founder and executive chairman of MicroStrategy, is one of the most prominent Bitcoin advocates and has not publicly endorsed or mentioned the Stride (STRD) cryptocurrency in any notable way. Saylor’s public commentary and investment strategy have been laser-focused on Bitcoin; he is known for allocating MicroStrategy’s resources to BTC and evangelizing Bitcoin as the primary digital asset. There are no records of Saylor promoting or discussing STRD, and given his Bitcoin-maximalist stance, it’s unlikely he has any involvement with this Cosmos-based token. In fact, Saylor often emphasizes Bitcoin’s superiority and typically avoids endorsing other crypto projects (sometimes even critiquing altcoins), so STRD has not received any endorsement from him in the crypto context. MicroStrategy’s corporate strategy likewise has not included investments in altcoins like STRD, focusing almost entirely on acquiring Bitcoin for its treasury.
MicroStrategy (MSTR) and the “STRD” Connection
Despite no direct ties between MicroStrategy and the Stride crypto project, a recent development has caused some naming confusion. In June 2025, MicroStrategy (rebranded simply as “Strategy”) announced a new class of preferred stock called “Stride” with the ticker STRD . This STRD stock (formally the 10% Series A Perpetual Stride Preferred Stock) is not a cryptocurrency, but rather a traditional equity instrument that MicroStrategy is issuing to raise capital. The company planned an initial public offering of 2.5 million STRD shares at $100 each, aiming to raise $250 million – with the specific goal of using the proceeds to buy more Bitcoin . In fact, MicroStrategy expanded the offering due to high demand, ultimately raising nearly $1 billion by selling 11.76 million STRD shares at $85 each . Michael Saylor highlighted the significance of this move, describing the STRD preferred stock as the “fourth gear” in MicroStrategy’s Bitcoin acquisition strategy . In his analogy, MicroStrategy’s “Bitcoin engine” has multiple gears (methods of raising funds for BTC purchases), and the STRD preferred shares add a new high-yield, non-dilutive funding source to that engine .
It’s important to clarify that this STRD-named stock is unrelated to the Stride crypto token beyond the coincidence of the ticker symbol. The Stride ($STRD) cryptocurrency operates in the Cosmos blockchain ecosystem, whereas STRD preferred shares are a MicroStrategy corporate fundraising instrument traded on traditional stock exchanges (Nasdaq). MicroStrategy (ticker MSTR) remains a business intelligence company turned Bitcoin holding vehicle, with a treasury of over 580,000 BTC as of mid-2025 , and it has not diversified into Cosmos projects like Stride. The STRD token has no strategic partnership or connection with MicroStrategy. Thus, aside from the naming overlap, there is no affiliation or crossover between Stride’s $STRD token and MicroStrategy or Michael Saylor. Saylor’s use of “Stride (STRD)” refers only to the preferred stock initiative for buying Bitcoin, and he has not shown any involvement with the Stride crypto project.
Sources: Official Stride documentation and overviews ; CoinMarketCap and CoinGecko for market data ; Cointelegraph and related news on MicroStrategy’s STRD stock offering .