Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router issued a joint statement criticizing the new token. A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router on Oct. 27 called the…
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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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Since 2020, applications for liquid staking on the Ethereum blockchain have seen steady growth, and as of the first week of October 2023, a total of 23 liquid staking derivatives (LSD) platforms hold 12.4 million ether, valued at over $20 billion. Currently, the top three LSD protocols hold sway over 11.041 million ETH, accounting for…
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Network, futures and user data all point toward Ether potentially charting a new course. Ether’s price has been dealing with some strong headwinds, and on Sept. 11, the price of the altcoin endured a critical test when it plunged to the $1,530 support level. In the days that followed, Ether (ETH) managed to stage an impressive recovery…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Elderly Women Accuse US Man’s ‘Bitcoin Exchange’ of Scam, DigiFT Launches ‘First Regulatory-Compliant Ethereum Staking Token’, Qredo Wallet Integrates USDC Read more »Sign up for e-EUR – the…
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A group known as the P2P team has requested $1.5 million in funding from the popular staking provider Lido DAO to further develop Lido’s staking service for the Solana (SOL) network. The request from the P2P team was published as a proposal on Lido DAO’s governance forum, with the team saying it needs $800,000 annually…
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The crypto market has witnessed several fluctuations, but specific sectors’ resilience within this domain remains attractive. Recently, despite a noticeable dip in the broader crypto market, one area seems poised to touch its peak, demonstrating the potential and adaptability within the crypto ecosystem, per a report. Liquid staking, a sector that facilitates rewards for token…
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The realm of decentralized finance (defi) is grappling with the aftermath of the sweeping crypto market slump that marked the close of August. As it stands, the total value locked (TVL) in defi, pegged at $37.59 billion, has plummeted to a low last witnessed in the second week of February 2021. Crypto Winter’s Grip on…
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A Lido team member claimed Rocket Pool is not really governed by its DAO, but Rocket Pool community members pushed back, claiming the protocol is becoming more decentralized. A team member for Lido has accused competitor Rocket Pool of being too centralized in a July 4 social media post. Both Lido and Rocket Pool are…
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