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Lido to Help Stakers Secure Ethereum 2.0 Without Ditching DeFi
Summary: Lido, a new staking provider, says it wants to give Ethereum users the best of both worlds: securing the Eth2 network and earning DeFi returns. Ethereum is transitioning from its current proof-of-work network to the proof-of-stake Ethereum 2.0 via a phased rollout. Starting with Phase 0, it will lock up users' staked ETH for as ...
Lido, a new staking provider, says it wants to give Ethereum users the best of both worlds: securing the Eth2 network and earning DeFi returns.
Ethereum is transitioning from its current proof-of-work network to the proof-of-stake Ethereum 2.0 via a phased rollout. Starting with Phase 0, it will lock up users' staked ETH for as long as it takes for the next phase in the rollout to be released, potentially months or years from now.
Such a lockup could be a hard pill to swallow for ETH holders, who have the alternative of staking instead in DeFi protocols that promise high annual returns on investment without the uncertain withdrawal schedule.
Lido says it will provide staking services for ETH holders so they can contribute to the Eth2 PoS blockchain; it will also issue bETH tokens 1-to-1 representations of staked ETH, so users can continue using DeFi protocols.
By Amy Liu
Tags: DeFi,Ethereum 2.0,Lido,Stakers
Link: Lido to Help Stakers Secure Ethereum 2.0 Without Ditching DeFi [Copy]
