A16z Investing $70M in Ethereum Staking Provider Lido Finance

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

.a16z has invested $70 million in Ethereum staking provider LidoFinance. By BrandyBetz

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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 🚀 🚀

a16z LidoFinance BrandyBetz yay staking!

a16z LidoFinance BrandyBetz

a16z LidoFinance BrandyBetz 🚀 VAIOT 🚀 💎Smart e-commerce 💎Aggregation of insurance products 💎Educational sales and service funnels All supported by our Blockchain VAIBC built on COSMOS 🌌

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Brand New Ethereum Feature Might Be Disruptive for Crypto Industry: Here's HowYou will soon be able to access your favorite web applications outside of crypto with your own Ethereum address Ethereum is eating the world ! $ETH 🔥🚀 SHIBA 🚀❤💙🚀shibaswap 🚀🚀shibainu 💙💙leash ❤❤shibabone 🚀🌺 shibacoin 🚀🚀🚀🚀 Oshiverse 🚀 shibarmy❤🚀🚀❤ Shibarium 🚀🚀🚀 shib ❤🚀🚀 shibarmystrong 🚀🚀❤ bone 🍖🍖 🤣
Source: Utoday_en - 🏆 295. / 63 Read more »