Atom stakers often end up with numerous liquid staking tokens (LSTs) from Stride, which can be cumbersome to manage. To address these inefficiencies and enhance liquidity within the Atom Economic Zone (AEZ), AADAO has awarded a grant of $35,000 to Yieldmos to improve its non-custodial, authz-based ATOM compounding system.
This grant aims to enable the conversion of LSTs into ATOM via Osmosis, which would then be restaked in the user’s wallet. Additionally, it will facilitate the transfer of staking rewards from other supported chains to the Cosmos Hub for staking, leveraging IBC-go v7.
By automating the conversion and restaking process, this will ultimately simplify and optimize the staking rewards system, potentially increasing user engagement and overall staking rates, thus enhancing network security and ecosystem robustness.
Update: This grant was discontinued due to the project overrunning the initial time estimates and the Yieldmos team officially disbanding. Disbanding teams is a common occurrence in every industry. Had we communicated better and further enforced the project timelines, the grant perhaps could have been completed successfully.
While not always possible, more defined and granular deliverables could help another team continue the project should issues like this arise. For this particular grant, the Yieldmos team has made public the codebase, API and other related work so that any team can continue this work in the future.
