Metalex and Lido Finance have rolled out a bold proposal to launch the first major cybernetic organization (BORG), setting their sights on boosting trustlessness in the crypto world. This move marks a fresh chapter in merging legal structures with autonomous technologies, further enhancing the power of decentralized autonomous organizations. Enter the BORG—Metalex and Lido Finance…
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Reaching a major milestone, Lido Finance, the leading liquid staking protocol on Ethereum, now controls over 28.5% of all staked Ether, raising questions about the potential of DeFi to challenge traditional finance (TradFi). The April 29 achievement establishes Lido Finance as the largest decentralized finance (DeFi) protocol, boasting one million Ethereum validators and surpassing major…
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Recent statistics indicate that in the past six months, a substantial 2.15 million ethereum has been allocated to liquid staking derivatives protocols. As of Jan. 6, 2024, Lido Finance holds a dominant share, exceeding 75% of the total deposited ether, with a massive addition of 1.7 million ethereum deposited since July 5, 2023. Liquid Staking…
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1inch Investment Fund, a fund closely tied with the crypto exchange aggregating platform, 1inch, has sold 4,685 stETH for 8.54 million USDC at $1,823, according to Scopescan, an analytics platform, on October 24. By selling at spot rates, the fund has netted $1.28 million in profits since the stETH was bought at an average price of $1,550…
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The total amount of Ethereum (ETH) staked on Lido Finance, one of the many liquidity staking protocols available, has risen steadily over the past few years. Surprisingly, revenue accrued by the platform (compared to staking rewards distributed) remains comparatively low. Lido Finance Revenue Isn’t Growing As Fast As Expected Looking at Token Terminal data shared on October…
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Lido Finance, a decentralized liquid staking platform, is ending its Solana (SOL) operations after the DAO community voted in favor of sunsetting the Lido on Solana protocol. Per Lido’s blog post on Monday, the process of shutting down Solana staking product will “begin shortly” phasing out. “After much discussion and a vote by Lido DAO…
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Unsustainable financials and low fees generated by Lido on Solana were two of the main reasons for the sunsetting. Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the Solana blockchain following a community vote in Lido’s decentralized autonomous organization. The proposal to sunset Lido on Solana was first put…
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The initial impact amounted to 20 Ether, worth $31,000, while the validator involved has now been taken offline. Ethereum staking protocol Lido Finance has disclosed its protocol saw 20 slashing events due to a series of infrastructure and signer configuration issues from validators operated by Launchnodes. The incident occurred on Oct. 11 at about 3:30…
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A crypto wallet associated with Justin Sun, the co-founder of Tron, a smart contract platform, has moved 20,000 Ethereum (ETH) worth roughly $32.4 million from Lido Finance, a liquidity staking platform. Funds were transferred to Binance, the world’s largest crypto exchange, trading volume and client count. The transaction, executed in a single batch, was captured by…
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Lido assures LDO, stETH tokens remain safe despite flaw in token contract
The “fake deposit” attack enables bad actors to execute a transfer where the requested value is larger than what the user actually owns. Ethereum staking protocol Lido Finance has assured both Lido DAO (LDO) and staked-Ether (stETH) tokens remain safe despite hackers allegedly exploiting a known security flaw in LDO’s token contract. Lido didn’t confirm…
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