Proposal #607
Passed on 05 Sept 2023 with 96.8% of the votes for yes.
Yes
96.8%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
05 Sept 2023
96.77%
of votes cast
3.23%
of votes cast
0.00%
of votes cast
0.00%
of votes cast
Passing this proposal will upload the Stride Redemption Rate Oracle Contract to the Osmosis chain
The Stride Redemption Rate Oracle Contract uses an interchain account (ICA) to provide the redemption rates of Stride's stTokens to the Osmosis blockchain in a decentralized manner.
If uploaded to Osmosis, the Oracle Contract's feeds could be used to 1) trustlessly handle the scaling factor for stToken stableswap pools, and 2) could be integrated with Mars' oracle implementation to provide a more dependable oracle price for stTokens.
stTokens represent underlying staked tokens, which are controlled by the Stride blockchain. At any time, a user may use his stToken to redeem a certain amount of its underlying token. The amount of underlying tokens a single stToken can redeem is called the redemption rate. For example, on the Stride blockchain 1 stATOM can currently be used to redeem 1.205 ATOM. To continue with the example, the market price of stATOM vs ATOM may fluctuate - but the true stATOM vs ATOM value is the redemption rate.
The Oracle Contract uses an ICA to provide redemption rates for Stride's stTokens to the Osmosis blockchain in a decentralized manner. As mentioned above, stToken redemption rates on Osmosis can be used to trustlessly manage the scaling factors for stToken stableswap pools and to strengthen stToken price oracles on Osmosis.
Release: [Hidden link]
Git Commit: 2fdf76f3ba4fad6a20a6d10d77c0511f2439b6c3
Code Repository: [Hidden link]
Compiler: cosmwasm/rust-optimizer:0.14.0
Checksum: 5ee10302357ff0f8531fe00029cd35cfe5a2c521c6a818cee06cd61a3df0cb42
Forum Thread: [Hidden link]