Ethereum Backed Staking Service Lido Finance Plans Its Expansion Across Layer 2
Lido Finance, a cryptocurrency staking service firm, declares its intention to spread across the Ethereum Layer two networks. Furthermore, the company announced that it would extend its support to the Ethereum ecosystem through its services on staked Ether (stETH). The Lido team revealed its plans through a blog post. It stated that its fundamental step […]
Related News
Lido Finance has announced plans to offer its ETH staking services across the entire L2 system, as long as specific networks have “demonstrated economic activity.” Crypto staking service provider Lido Finance has announced plans to expand staked Ether (stETH) support across the ecosystem of Ethereum Layer two (L2) networks. In a July 18 blog post, the Lido team noted that it would initially begin by supporting Ether staking via bridges to L2s using wrapped stETH (wstETH). Moving forward, it will eventually enable users to stake directly on the L2s “without the need to bridge their assets....
Lido has around 40% of all the staked ETH on the Beacon Chain. One of the biggest Merge staking providers, Lido Finance has launched on two layer-2 networks Arbitrum and Optimism, a move it says further improves accessibility to Ethereum staking while reducing gas fees.The plan to expand to L2 was first unveiled in July when the team acknowledged that several layer-2 networks had “demonstrated economic activity,” with the new deployment to L2 networks Arbitrum and Optimism launched on Oct. 7. Lido provides liquid staking, which allows more flexibility for stakers as they can withdraw their....
Singapore — August 17th – Lido Finance, a giant in the Ethereum staking world, will be enhancing liquidity on Polygon with KyberSwap Elastic. Lido Finance is the largest platform for liquid staking services on Ethereum. Powering DeFi and CeFi applications alike with their technology, Lido Finance empowers stakers to put their staked assets to use on their supported networks: Ethereum, Solana, Polygon and Polkadot. This first phase of this joint initiative is set to bring liquidity providers over $120,000 in liquidity mining rewards, with more incentives to come in the near....
A renewed focus on decentralization, the steady growth of DeFi’s liquid staking sector and investment from institutions could benefit LDO token in the long-term. Liquid staking has grown in popularity over the past year thanks in part to the launch of the Ethereum beacon chain and the inability of ETH stakers to withdraw their tokens until the full launch of the consensus layer. As a result, Lido (LDO) has established itself as a leader in the liquid staking sector. Lido is one of the main staking protocols for several popular tokens and it allows token holders to earn an extra yield by....
Moonbeam, the Ethereum (ETH) blockchain-compatible smart contract platform developed on Polkadot, announced that it will integrate and work closely with Lido, which claims to be the largest liquid staking derivatives protocol currently live on Ethereum and Terra. The collaboration between Moonbeam and Lido will be driven by MixBytes, which was selected by the Lido DAO […]