Mantle Network’s Bold Move: 40,000 ETH Pledged To Lido From DAO Vault
- Mantle Network, a Layer 2 Ethereum platform, pledges a substantial 40,000 ETH from its DAO vault to Lido, marking a significant move authorized by the MIP-25 proposal and signaling an intent to deepen their collaboration.
- This pledge aligns with Mantle’s vision to work closely with Lido, fostering growth and innovation in the decentralized finance landscape, as both entities strive to expand the reach of wrapped stETH and other Ethereum staking applications within Mantle’s dynamic ecosystem.
The sum of 40,000 ETH has been committed by Mantle Network as a gift to Lido from the vault.
Mantle Network, a notable Layer 2 Ethereum network, has made a resounding commitment to the crypto landscape by pledging a significant 40,000 ETH from its DAO vault to Lido on August 21. This substantial allocation marks a momentous step, authorized by the MIP-25 proposal, as Mantle Network strengthens its involvement in the evolving decentralized finance realm.
This pledge resonates with Mantle’s strategic vision, aiming to forge a deeper partnership with Lido. The wstETH, or wrapped stETH, is presently secured within the Mantle Treasury, poised for the forthcoming actions that will further the objectives of this dynamic collaboration.
The strategic significance of this move is heightened by its alignment with the MIP-25 proposal, a pivotal development in Mantle Network‘s trajectory. The proposal’s approval on August 8 ushered in the authorization for the implementation of a comprehensive pledge strategy, potentially encompassing up to 200,000 ETH.
Mantle Network’s pledge underscores its commitment to both its partnership with Lido and the wider cryptocurrency community. The collaboration envisions extending the reach of wstETH and other Ethereum staking applications into Mantle’s burgeoning ecosystem in the near future.
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