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DeFi

Lido And New Updates Bring Positive Signals

July 18, 2022 - Around 2 mins mins to read
After a challenging period with massive selling pressure from funds and stories about liquidity risk, Lido DAO’s stETH has made significant changes recently.
Lido And New Updates Bring Positive Signals
Lido And New Updates Bring Positive Signals 3

After the crash of 3AC and Celsius, stETH became a fatal weakness when the asset’s liquidity was alerted. However, after 3AC and Celsius filed for bankruptcy, along with liquidation activities to reduce debt leverage, stETH was able to shake off the temporary selling pressure.

On July 18, Lido DAO said it would deploy stETH to Layer-2 solutions, helping this asset have more applications while reducing the cost of interaction for users.

Also, on July 18, FTX announced the listing of transactions for Lido (LDO).

Previously, after taking a vote, the DAO organization canceled the proposal “Limit staking level on ETH 2.0”. This step is expected to help Lido avoid slowing growth in the near future.

The Lido community is also discussing the proposal of Dual Governance, a solution to help increase the application of stETH in the future.

At the time of writing, LDO is also the token with a strong rebound in the market, with a 128.5% increase in the past seven days.

Lido And New Updates Bring Positive Signals
LDO daily chart. Source: CoinCu

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 CoinCu Telegram to keep track of news: https://t.me/coincunews

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Harold

CoinCu News

3AC

Celsius

FTX

Layer-2 solution

LDO

Lido DAO

stETH

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

Lido And New Updates Bring Positive Signals

After a challenging period with massive selling pressure from funds and stories about liquidity risk, Lido DAO’s stETH has made significant changes recently.
Lido And New Updates Bring Positive Signals
Lido And New Updates Bring Positive Signals 6

After the crash of 3AC and Celsius, stETH became a fatal weakness when the asset’s liquidity was alerted. However, after 3AC and Celsius filed for bankruptcy, along with liquidation activities to reduce debt leverage, stETH was able to shake off the temporary selling pressure.

On July 18, Lido DAO said it would deploy stETH to Layer-2 solutions, helping this asset have more applications while reducing the cost of interaction for users.

Also, on July 18, FTX announced the listing of transactions for Lido (LDO).

Previously, after taking a vote, the DAO organization canceled the proposal “Limit staking level on ETH 2.0”. This step is expected to help Lido avoid slowing growth in the near future.

The Lido community is also discussing the proposal of Dual Governance, a solution to help increase the application of stETH in the future.

At the time of writing, LDO is also the token with a strong rebound in the market, with a 128.5% increase in the past seven days.

Lido And New Updates Bring Positive Signals
LDO daily chart. Source: CoinCu

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 CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News