Analyzing Lido Finance’s potential to rise beyond staking domain

Lido chose to support only wstETH – wrapped staked Ether – for several reasons, it claims. However, it only shared that wstETH offered “simplified bridge contracts and ease of integration, both with bridges and general DeFi space.” Hence, the offsetting part.Thus, came the extra support to handle the aforementioned integration: Optimism and Arbitrum. On 18 August, Lido Finance unveiled the next step as part of its expansion plan. The staking platform aimed for layer 2 networks mentioned here.

Following the six-month-long consistent decline in the total value locked within the DeFi ecosystem, July marked the beginning of new things as TVL across many protocols started to recover.But probably the biggest risk to Lido Finance at this point is confidence in the derivatives. One of the reasons why stETH has been making headlines lately is because it has lost its peg to ETH.At the time of writing, stETH was priced at $1,566, which can be considered at a 1.2% discount to ETH .

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Curve Finance totals record losses- Assessing potential of its growthAs far as DEXes go in the crypto market, Curve Finance is usually spotted among the top-performing exchanges. However, since the past month or so the DEX has been massively underwhelming. The fall from its grace began in Q2 as it led the DEXes, but it has been replaced by Uniswap ever since. Curve’s performance […]
Source: CryptoAmb - 🏆 22. / 68 Read more »