The Ethereum blockchain plans to switch this summer from its current proof-of-work validation system to PoS, which is more energy efficient and lets users validate network transactions through temporary token deposits in exchange for rewards.
Ethereum needs to encourage ether holders to stake their tokens or a secure PoS transition won’t be possible, which is where Lido Finance comes in.. By issuing an Ethereum-native liquid token, Lido allows you to use staked ETH as collateral within DeFi in the same way you can use ETH currently,” wrote a16z Crypto’s Daren Matsuoka and Porter Smith in the announcement post.
Last summer, a16z launched a $2.2 billion crypto fund that was the largest ever for the industry until Paradigm announced a
a16z LidoFinance BrandyBetz Tower hour tonight at 20:00 UTC til 21:00 UTC. 🟢🟢 Biggest buy gets $400 worth of ADABoy! 🟢🟢 Ada boy the hottest coin on the block. 5% Tax for 1 hour! 🔥🔥🔥 LFG!! ADABoyOfficial
a16z LidoFinance BrandyBetz metapets Large and strong community Holders 109 k just 3 months $ Waiting for the explosion $ Great news on March 6th NFT, GAME, METAPETS in METAVERSE The storm is on its way MetaPets The next shiba 🚀 🚀
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a16z LidoFinance BrandyBetz
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