According to Foresight News, the Interchain Foundation, a Cosmos ecosystem management organization, has announced an investment in the liquidity rights protocol Stride. The investment scale was not disclosed. This investment will be used to create a decentralized exchange called Stride Swap, which will be optimized for the Cosmos Hub's IBC Eureka upgrade and will enable asset trading between the Cosmos ecosystem and Ethereum. The DEX is currently under development and is expected to go live in the coming months.
The team behind Stride stated that they intend to create additional synergies between Stride and Cosmos Hub, which may include Cosmos (ATOM) token buybacks and burning through income generated by the Stride protocol.
