Lido Announces Details On Ethereum Staking On Layer-2 Arbitrum And Optimism

Crypto liquidity staking platform Lido on Tuesday announced the first steps and technical details about stETH expansion across the Layer-2 DeFi ecosystem. In the initial launch phase, Ethereum (ETH) staking derivatives are bridged to Layer-2 solutions Arbitrum and Optimism.

Timeline of Lido-dao

With the Ethereum Merge just a few weeks away, happenings around the number one protocol facilitating the staking of ETH – Lido Finance – have become more interesting. Data from Santiment revealed that over the last few months, Lido's native token, LDO, exhibited divergences in some of its on-chain metrics.

Ethereum‘s much-anticipated Merge could help ETH reach new places on the price chart. But not just alone, ETH has another passenger- Lido DAO, which could be a star performer in the near future.

The Lido Finance plan to sell 10 million LDO tokens to Dragonfly Capital was originally rejected last month. The post Lido DAO approves treasury token sale to Dragonfly Capital after terms tweaked appeared first on The Block.

THORChain [RUNE], Lido Finance [LDO], and Synthetix [SNX] were the top performers on 3 August as the DeFi ecosystem steered the crypto market back to greens.  While others also recovered, the revival of these DeFi tokens was superior.

The three leading altcoins, Ethereum Classic (ETC), Filecoin (FIL), and Lido DAO (LIDO), have outperformed Bitcoin and other well-known cryptocurrencies to lead the altcoin market.

Lido Finance has gone unnoticed recently, with Ethereum and its Merge keeping everyone at bay. Lido is making huge strides in the DeFi market with its liquid staking protocols now more attractive than ever.

Lido DAO Token [LDO] is back to doing what it has done for its investors—make their profits. The altcoin, also the native token of crypto staking provider, has been on top of performance in the last 24 hours.

Lido DAO, the governance forum for the Lido Finance project, has put forward a new proposal for selling LDO 10m tokens to crypto investment firm Dragonfly Capital, apparently with better terms.

The new proposal still calls for selling 10 million Lido DAO tokens to Dragonfly, but with a one-year lock-up this time around. The post Lido proposes new terms for treasury token sale to Dragonfly Capital appeared first on The Block.

LidoDAO rejected the proposal to send LDO tokens to Dragonfly Capital which was a proposal aimed to secure a runway for the platform to carry out the functions in the protocol without having to worry about further fundraising so let's have a closer look in today's latest cryptocurrency news.