Lido Finance Cements DeFi Lead, Expands To Optimism: Is LDO Undervalued?
17 Ottobre 2024 - 5:00AM
NEWSBTC
Lido Finance, the largest DeFi platform by assets under management,
is expanding. The liquidity staking platform said it now supports
the deployment of its stETH value-accruing token on Optimism, a
layer-2 solution for Ethereum. Expansion to Optimism: What It Means
In a blog post, Lido Finance said the decision will allow its users
to benefit from daily staking rewards. At the same time, the
platform said, those who choose to deploy their stETH on Optimism
will have a seamless bridging experience while concurrently
unlocking other multichain opportunities. Related Reading: Polkadot
(DOT) Gearing Up For ‘Massive Breakout’, Will It Skyrocket To $20?
The deployment means Lido Finance is expanding in line with its
multichain strategy. By offering stETH and wstETH on multiple
layer-2 platforms on Ethereum, including on Arbitrum, the liquidity
staking solution gives users a more flexible way to stake their
ETH. Moreover, because Ethereum layer-2 solutions are designed to
be scaled, all transactions, Lido Finance said, will be cheap. Lido
Finance is among several liquidity-staking platforms that allow
users to stake their ETH and earn a yield. This is possible because
Ethereum successfully migrated from a proof-of-work consensus to a
staking system in 2022 after the Merge. Once developers powered off
the proof-of-work system, the network was migrated to the Beacon
chain. In this new chain, validators secured and processed all
transactions. With validators in the equation, those who sought to
operate full nodes and compete for a part of the 3 ETH block reward
and fees had to lock in 32 ETH. This threshold was out of reach for
most users. Accordingly, the platform allows users to stake ETH
without having the 32 ETH required to run a full node. Related
Reading: Dogecoin Sees Sharp Decline: Over 106,000 Wallets Abandon
The Memecoin Lido Finance Manages Over $25 Billion, LDO Down 72% In
9 Months As of October 16, DeFiLlama data shows that Lido Finance
had a total value locked (TVL) of over $25 billion. Over the last
year alone, the protocol has generated over $845 million in the
last year and more than $1.8 billion since launching. Although the
protocol helps secure the Ethereum mainnet, ETH holders of several
layer-2s, including Arbitrum, Base, Linea, and Scroll, can stake
directly from these off-chain solutions. Despite Lido Finance
growing its ecosystem, LDO prices are struggling for momentum. Even
after gains of October 14, the token is yet to break above
September highs and reverse losses of the last nine months. After
peaking in March, LDO is down 72%. Feature image from iStock, chart
from TradingView
Grafico Azioni Polkadot (COIN:DOTUSD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Polkadot (COIN:DOTUSD)
Storico
Da Dic 2023 a Dic 2024