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
BlackRock Bitcoin ETF startled the financial markets, with $1.1 billion of trading volume said to…
Spot Ethereum ETFs may start trading any day now.
Binance.US in Washington will halt operations on August 20, 2024, due to regulatory issues.
SEC Chair Gary Gensler stated that the spot Ethereum ETF approval is progressing smoothly.
London, United Kingdom, 25th June 2024, Chainwire
Chicago, United States, 25th June 2024, Chainwire
This website uses cookies.