Users of Lido Finance are rewarded with stETH tokens for staking their ETH on the liquid staking protocol. However, because stETH is a rebase token, a user’s stETH balance fluctuates as they collect staking rewards on a daily basis.
The Aave DeFi protocol community recently proposed adding Lido’s wrapped stETH (wstETH) to its V3 deployment on the Layer 2 network (L2) Optimism.
So far, its stETH Reserve on the V2 has been a success. This reserve, at $1.09 billion, contains USDC and ETH holdings of more than $1.08 billion and $1.03 billion, respectively, making it the highest reserve of any existing Aave deployment.
Aave acknowledged that the inclusion of wstETH in the Optimism Liquidity Pool would let developers to construct and deploy similar products on the L2 network.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
Coincu News
While Aave finds itself in uncertain territory, a fresh face in the crypto scene, Qubetics…
Analysts push for a Dogecoin price surge to its $0.2288 yearly high while ETFSwap (ETFS)…
Discover the promising altcoin under $1 that may outperform XRP amid election volatility and market…
Campinas, Brazil, 5th November 2024, Chainwire
Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…
Miami, Florida, 5th November 2024, Chainwire
This website uses cookies.