Lido Proposes A 40K ETH Investment From Mantle For stETH Liquidity Boost
Key Points:
- Lido Finance has proposed a plan for Mantle to allocate 40,000 ETH to its liquid staking platform.
- The proposal aims to enhance the liquidity of the stETH ecosystem on Mantle and attract DeFi integration to the Mantle network.
- The revenue-sharing agreement between BitDAO and Lido DAO will create a strategic partnership between Lido and Mantle.
Seraphim Czecker, a DeFi expansionist at Lido Finance, put forward a proposal for the well-known Layer 2 project Mantle to allocate 40,000 ETH to Lido’s liquid staking platform.
The purpose of the proposal is to stimulate the liquidity of the stETH ecosystem on Mantle. Additionally, the proposal aims to attract DeFi integration to the Mantle network, including Uniswap, Curve, and other decentralized exchanges.
Mantle, which recently merged with BitDAO, maintains one of the largest community vaults in the crypto ecosystem.
That includes $500 million worth of Ether and $300 million in stablecoins, according to DeepDAO. In addition to these operations, the core team of the project is also working on the development of the Ethereum Layer 2 network.
Lido Finance is known for its decentralized liquid staking protocol, designed to help users earn rewards from staking Ethereum while retaining liquidity via its token, stETH. The platform emphasizes the security of staked assets through regular security audits and a robust infrastructure. Furthermore, its Decentralized Autonomous Organization (DAO) governance model democratizes decision-making, enhancing its appeal to users.
The proposal goes beyond a considerable investment, incorporating a revenue-sharing agreement between BitDAO and Lido DAO. If ratified, this agreement would ensure that a portion of the revenue accrued by the Lido DAO treasury is redistributed to BitDAO over a period of 12 months. Additionally, this will create a strategic partnership between Lido and Mantle.
Lido’s stETH represents a liquid tokenized claim on staked Ethereum. The smart contracts that power this functionality have undergone rigorous audits, which underscore their robustness.
The utility of stETH is substantial due to its widespread integration across the DeFi space. It allows holders to earn staking rewards while participating in other DeFi activities, thereby enhancing its utility. Moreover, its integration with leading DeFi protocols like Curve, 1inch, and Aave attests to stETH’s broad acceptability and usage.
In addition, stETH offers high liquidity, making it a market leader. With billions of USD worth of stETH staked across multiple DEXes and ecosystems, the risk of inadequate liquidity is substantially minimized.
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 us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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Lido Proposes A 40K ETH Investment From Mantle For stETH Liquidity Boost
Key Points:
- Lido Finance has proposed a plan for Mantle to allocate 40,000 ETH to its liquid staking platform.
- The proposal aims to enhance the liquidity of the stETH ecosystem on Mantle and attract DeFi integration to the Mantle network.
- The revenue-sharing agreement between BitDAO and Lido DAO will create a strategic partnership between Lido and Mantle.
Seraphim Czecker, a DeFi expansionist at Lido Finance, put forward a proposal for the well-known Layer 2 project Mantle to allocate 40,000 ETH to Lido’s liquid staking platform.
The purpose of the proposal is to stimulate the liquidity of the stETH ecosystem on Mantle. Additionally, the proposal aims to attract DeFi integration to the Mantle network, including Uniswap, Curve, and other decentralized exchanges.
Mantle, which recently merged with BitDAO, maintains one of the largest community vaults in the crypto ecosystem.
That includes $500 million worth of Ether and $300 million in stablecoins, according to DeepDAO. In addition to these operations, the core team of the project is also working on the development of the Ethereum Layer 2 network.
Lido Finance is known for its decentralized liquid staking protocol, designed to help users earn rewards from staking Ethereum while retaining liquidity via its token, stETH. The platform emphasizes the security of staked assets through regular security audits and a robust infrastructure. Furthermore, its Decentralized Autonomous Organization (DAO) governance model democratizes decision-making, enhancing its appeal to users.
The proposal goes beyond a considerable investment, incorporating a revenue-sharing agreement between BitDAO and Lido DAO. If ratified, this agreement would ensure that a portion of the revenue accrued by the Lido DAO treasury is redistributed to BitDAO over a period of 12 months. Additionally, this will create a strategic partnership between Lido and Mantle.
Lido’s stETH represents a liquid tokenized claim on staked Ethereum. The smart contracts that power this functionality have undergone rigorous audits, which underscore their robustness.
The utility of stETH is substantial due to its widespread integration across the DeFi space. It allows holders to earn staking rewards while participating in other DeFi activities, thereby enhancing its utility. Moreover, its integration with leading DeFi protocols like Curve, 1inch, and Aave attests to stETH’s broad acceptability and usage.
In addition, stETH offers high liquidity, making it a market leader. With billions of USD worth of stETH staked across multiple DEXes and ecosystems, the risk of inadequate liquidity is substantially minimized.
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 us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Read More