Coinbase Launches Wrapped Ethereum Liquid Staking Token Ahead of The Merge
The cryptocurrency exchange Coinbase has introduced a new liquid staking ethereum derivative token ahead of Ethereum’s proof-of-stake (PoS) upgrade. The new ERC20 utility token is called coinbase wrapped ethereum, or CBETH, and it will allow people to stake their ether in a non-custodial fashion or trade the tokens on the open market. Coinbase Reveals CBETH Liquid Staking Solution On August 24, Coinbase Global (Nasdaq: COIN) announced the launch of a new ERC20 token called coinbase wrapped ethereum (CBETH) roughly two weeks before the highly anticipated Ethereum upgrade....
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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....
Ethereum staking is the backbone of the new network and users have been earning rewards by staking their ETH ahead of the merge. As time has gone on, rewards for staking have reduced, with the current rewards sitting around 4-5% for stakers. However, crypto exchange Coinbase sees this changing for the better once the merge […]
Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out. Institutional staking of crypto assets, including the post-Merge Ethereum, could become a “phenomenon” in the future, but not while their assets still need to be “locked up.”Speaking during a Q2 earnings call on Tuesday, chief financial officer Alesia Haas noted that she didn’t expect their new exclusive institutional staking service, rolled out in Q2, to be a “near-term phenomenon” until a “truly liquid staking option” is available:“This is the first time....
In roughly three days Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version via The Merge. Ahead of the transition, the liquid staking project Lido has seen a lot more activity as the value locked in the protocol increased by more than 13% this week. Moreover, the project’s lido dao governance token has increased 25.4% against the U.S. dollar during the past seven days.
Lido TVL Jumps 13% Higher This Week, Project’s Wrapped Ether Represents More Than 30% of Staked Ethereum
Last week, Bitcoin.com News....
Lido’s liquid staking derivative token has over 90% of the Ethereum market share as the network ultimately transitions to proof-of-stake. After a successful third testnet merge, Sept. 19 was recently proposed as the tentative target date for the Ethereum Merge. Ethereum is set to fully transition from proof-of-work (PoW), the original consensus mechanism used by the Bitcoin network, to the more energy-efficient proof-of-stake (PoS) used by younger networks like Solana and Cardano.“The Merge won’t solve Ethereum’s scaling concerns on its own. It is just the beginning of a road map to....