A governance proposal was just posted to authorize @BakerDAO420 to acquire Stride's stBGT. This proposal will let Stride fully focus on Cosmos and Stride DEX.

Incubated by @kodiakfi and @eatsleepyeet, BakerDAO will continue to grow stBGT and will profit-share with Stride 👇

With over 160,000 minted, stBGT remains one of the largest BGT LSTs.

However, continued maintenance would divert resources from Stride’s new core focus: the DEX. Transferring stewardship to a capable Berachain-native team is a logical next step. This is where BakerDAO comes in.

BakerDAO is incubated by @kodiakfi and @eatsleepyeet two well-known and highly competent teams in the Berachain ecosystem. Both teams have a deep understanding of Berachain and POL mechanics, and are well-suited to take over stBGT operations to ensure its ongoing success.

In exchange, Stride will receive 20% of all BakerDAO profits, all of which will be used to buy back and burn STRD. This includes profits from stBGT, as well as all of BakerDAO's other products.

Transferring stBGT to BakerDAO is a strategic move for Stride. It passes off operational burden to a highly competent team, allows Stride to double down on the DEX and Cosmos Hub, and turns a non-monetized product into a new revenue stream with strong upside potential.

Read the full proposal: https://common.xyz/stride/discussion/1276368-proposal-transfer-ownership-of-stbgt-to-bakerdao