-1.81% Bitcoin (BTC) 91639 EUR
-3.61% Ethereum (ETH) 2120.01 EUR
-3.33% Litecoin (LTC) 73.99 EUR
-2.02% B-Cash (BCH) 418.14 EUR
-1.74% Ethereum (ETH) 0.0233714 BTC
-1.46% Litecoin (LTC) 0.00081709 BTC
-0.61% B-Cash (BCH) 0.0045551 BTC
-1.62% Bitcoin (BTC) 108982.9693 USDC
-0.18% USD Coin (USDC) 0.84 EUR
-4.81% Chainlink (LINK) 11.23 EUR
-3.06% Chainlink (LINK) 0.00012256 BTC
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-3.18% Dogecoin (DOGE) 0.00000152 BTC
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-8.02% Uniswap (UNI) 0.00006474 BTC
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-2.18% Cardano (ADA) 0.00000536 BTC
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+0.37% Tron (TRX) 0.00000265 BTC
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+0.11% Zcash (ZEC) 34.17 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
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-4.87% Chainlink (LINK) 13.09025 USDC
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-1.64% Ondo (ONDO) 0.77751 USDC
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-6.55% Gala (GALA) 0.01382 USDC
-6.46% Wormhole Token (W) 0.05 EUR
-6.33% Wormhole Token (W) 0.0665 USDC
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-5.14% Chiliz (CHZ) 0.03463 USDC
-4.59% Sand (SAND) 0.2 EUR
-4.81% Sand (SAND) 0.2414 USDC
-6.03% Aave (AAVE) 223.35 EUR
-6.13% Aave (AAVE) 262.49 USDC
-5.94% Curve DAO (CRV) 0.42 EUR
-6.21% Curve DAO (CRV) 0.4998 USDC
-5.77% Immutable X (IMX) 0.36 EUR
-5.65% Immutable X (IMX) 0.4337 USDC
0.00% Skale (SKL) 0.07 USDC
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-7.07% Beam (BEAM) 0.00578 USDC
0.00% Axelar (AXL) 1.05 USDC
-4.82% Livepeer Token (LPT) 5.08 EUR
-3.96% Livepeer Token (LPT) 6.002 USDC
-5.50% Compound (COMP) 35.05 EUR
-4.94% Compound (COMP) 41.33 USDC
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-5.56% Coti (COTI) 0.0492 USDC
0.00% Portal (PORTAL) 1.1 USDC
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-6.35% Sushi (SUSHI) 0.5893 USDC
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-4.37% Pepe (PEPE) 0.00000962 USDC
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0.00% Polygon (MATIC) 0.2 EUR
-3.67% Solana (SOL) 124.44 EUR
-1.89% Solana (SOL) 0.0013568 BTC
-0.32% Solana (SOL) 0.058675 ETH
+0.09% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
-1.81% Bitcoin (BTC) 91639 EUR
-3.61% Ethereum (ETH) 2120.01 EUR
-3.33% Litecoin (LTC) 73.99 EUR
-2.02% B-Cash (BCH) 418.14 EUR
-1.74% Ethereum (ETH) 0.0233714 BTC
-1.46% Litecoin (LTC) 0.00081709 BTC
-0.61% B-Cash (BCH) 0.0045551 BTC
-1.62% Bitcoin (BTC) 108982.9693 USDC
-0.18% USD Coin (USDC) 0.84 EUR
-4.81% Chainlink (LINK) 11.23 EUR
-3.06% Chainlink (LINK) 0.00012256 BTC
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-3.18% Dogecoin (DOGE) 0.00000152 BTC
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-4.94% Compound (COMP) 41.33 USDC
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0.00% Portal (PORTAL) 1.1 USDC
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-4.37% Pepe (PEPE) 0.00000962 USDC
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0.00% Polygon (MATIC) 0.2 EUR
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-1.89% Solana (SOL) 0.0013568 BTC
-0.32% Solana (SOL) 0.058675 ETH
+0.09% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
-1.81% Bitcoin (BTC) 91639 EUR
-3.61% Ethereum (ETH) 2120.01 EUR
-3.33% Litecoin (LTC) 73.99 EUR
-2.02% B-Cash (BCH) 418.14 EUR
-1.74% Ethereum (ETH) 0.0233714 BTC
-1.46% Litecoin (LTC) 0.00081709 BTC
-0.61% B-Cash (BCH) 0.0045551 BTC
-1.62% Bitcoin (BTC) 108982.9693 USDC
-0.18% USD Coin (USDC) 0.84 EUR
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-3.06% Chainlink (LINK) 0.00012256 BTC
-5.35% Dogecoin (DOGE) 0.13 EUR
-3.18% Dogecoin (DOGE) 0.00000152 BTC
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-8.02% Uniswap (UNI) 0.00006474 BTC
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+0.11% Zcash (ZEC) 34.17 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
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-4.83% Chainlink (LINK) 13.08 USD
-4.87% Chainlink (LINK) 13.09025 USDC
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-0.32% Solana (SOL) 0.058675 ETH
+0.09% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Lido launches layer-2 Ethereum staking and LDO rewards

10-07-2022

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 funds at any time as opposed to staking Ethereum directly and having it locked up. Industry leaders such as Coinbase CFO Alesia Haas have previously commented that institutional staking will not take off unless the issue of asset lockup can be solved. Lido provides this flexible or liquid staking option which is why it has grown in popularity.

 

The first phase of its layer-2 rollout enables the bridging of Lido’s wrapped stETH (wstETH) token to the two networks.stETH is the Ethereum liquid staking token that Lido issues in proportion to staked ETH and its wrapped version keeps a fixed balance of stETH for use in DeFi applications that require a constant balance mechanism.

 

Additionally, Lido is allocating 150,000 LDO tokens in rewards per month from launch day for wstETH bridged across each network. The initiative aims to build wstETH liquidity for farming incentives on DeFi partners including Balancer, Curve, and Kyber Network.

 

According to its website, Lido has $7.4 billion worth of staked ETH representing around 5.5 million tokens or roughly 40% of the total staked. It was also reported that stETH lost its peg to ETH earlier this year as the crypto contagion started to spread, but recovery was swift. The layer-2 networks it has chosen to deploy to first have an 80% market share between them. Arbitrum is the leader with a 51% market share and $2.42 billion in total value locked and Optimism has a 30% share and a $1.45 billion TVL according to L2beat.

 

Source: Cointelegraph