Search Results for: Lido

Crypto traders are leveraging the Solana blockchain to potentially yield high returns. This is done by staking SOL tokens, obtaining mSOL, and using mSOL as collateral to borrow SOL. Drift Protocol introduced “Super staking”, simplifying this process and offering potential annualized returns up to 10%. However, this method, while offering high-yield opportunities, also carries risks of rapid losses and potential liquidation.

Terra Luna Classic developers have submitted a joint governance proposal to allow multiple interchain account (ICA) host message types for QuickSilver. This aims to enhance the LUNC staking ratio on the Terra Classic chain, enabling interchain staking on any validators, maximizing liquidity, capital efficiency, and improving network security and decentralization, similar to Ethereum’s liquid staking provider, Lido.

Cryptocurrency staking platform Northstake raised $3 million in funding, showcasing interest in the institutional staking market. With over $80 million in crypto assets staked in 2022, the company focuses on regulation-compliant “vanilla staking products” to minimize anti-money laundering risks. Experts predict a promising future for financial institutions gaining exposure to staking cryptocurrency.

The liquid staking market is witnessing a surge in interest, with Raft’s total value locked (TVL) reaching over $55 million within three weeks. The success of Raft’s R stablecoin emphasizes the potential of liquid staking derivatives in the DeFi space while raising questions about long-term sustainability.

Ethereum developers are considering a proposal to raise the validator limit from 32 ether to 2,048 ether (6,300% increase) as the demand for validator nodes surges. Validators play a critical role in maintaining the network’s security on proof-of-stake blockchains like Ethereum. The community and developers must weigh the potential impact of this change to strike a balance between users’ needs and maintaining the network’s integrity and safety.

Seattle-based EigenLayer has introduced a game-changing restaking protocol on Ethereum mainnet, allowing staking of ETH using liquid staking tokens. Offering increased flexibility and opportunities, its success depends on smooth integration with existing protocols and addressing potential security concerns.

This article highlights the potential risks and consequences associated with Ethereum’s reliance on Amazon Web Services (AWS) for hosting, as a recent AWS outage raises questions about the fragility of such dependence. It emphasizes the importance of developing decentralized technologies and infrastructures for creating more resilient networks.

Cumberland Labs’ incubator arm has unveiled a beta version of expand.network, a universal API tool designed to simplify connections to blockchain and DeFi protocols. This service offers both read and write connectivity across major public blockchains, enhancing efficiency and user-friendliness in cross-chain communication and DeFi landscape navigation.

Raft’s new U.S. dollar stablecoin R, backed by Lido’s staked ether (stETH), introduces a unique offering in the crypto world. With a focus on avoiding inherent risks associated with fiat assets as collateral, Raft’s stablecoin aims to attract large players in the liquid staking ecosystem and withstand ongoing regulatory pressures.

Celsius Network’s recent changes to its ETH staking strategy have exacerbated the already long queue for activating new validators on the Ethereum network. The company’s transfers have stretched the queue for establishing new validators now to 44 days, potentially adding almost an additional week due to Celsius actions.

DeFi-focused Ethereum liquid staking derivatives (LSD) platforms show potential for reviving Ethereum’s network activity. With gas consumption dropping in DeFi protocols, LSDfi leverages LSD token liquidity in DeFi applications for higher yields, despite potential smart contract risks.

Celsius Network significantly alters its ETH staking strategy, causing an increased congestion in Ethereum’s validator activation queue. This move involves moving $745 million worth of ETH into staking contracts after redeeming $813 million from Lido Finance, impacting Ethereum’s ecosystem and adding pressure on the network.

Origin Ether (OETH), a new yield farming app, has rapidly gained over $12 million in total value locked (TVL) in just 14 days. Utilizing liquid staking and DeFi protocols, OETH allows users to earn rewards from multiple sources. However, potential investors should cautiously evaluate its long-term sustainability due to the speed of its expansion.

MakerDAO’s DAI stablecoin has reduced its USDC backing from 50% to 23.6%, increasing diversification in its backing assets. As dependency on USDC decreases, DAI’s backing now includes more significant real-world assets, such as U.S. government bonds and stablecoins like GUSD and USDP.

In the world of decentralized finance (DeFi), Lybra Finance’s total value locked (TVL) has surged by 400%, nearing a milestone of $100 million. Built on liquid staking derivatives, Lybra provides a decentralized interest-bearing stablecoin. Its growth can be attributed to factors like Lido Finance’s upgrade, the rise of its native token LBR, and increasing interest from experienced crypto investors.

Anchorage Digital integrates the off-chain, gasless multi-governance client Snapshot, allowing its token-holding community to participate in governance proposals without hefty gas fees. This move aims to bring convenience and accessibility to users amid growing cryptocurrency popularity, while sparking debates over balancing convenience against decentralization and security guarantees.