Lido Finance [LDO], the largest platform for liquid staking services on Ethereum [ETH] continues to impress investors.
In the past week, the native token (LDO) rallied more than 18% on CoinMarketCap. Even at press time, LDO surged by more than 11%, changing hands at $2.15.
But does the platform has more to offer to investors/traders?
Over the years, Lido Finance has empowered investors to put their staked assets to use on the Ethereum network. And, this is not just limited to Ethereum, but also extends to Solana [SOL], Polygon [POLY], and Polkadot [DOT].
But yes, the said platform represented the largest liquid staking derivative (LSD) provider of any protocol on ETH.
Numerically speaking, with 4,149,796 ETH staked through it so far, Lido Finance is the leading staking provider ahead of the Merge.
Thisrepresented more than 31% of the total ETH staked in the market at press time.
But that’s not it. Lido has released a proposal to expand the staked ETH (stETH) footprint to Ethereum’s two largest L2 chains: Optimism and Arbitrum.
Ergo, expanding Lido DAO’s staked $ETH (stETH) footprint as elaborated by Messari.
Source:Messari
Meanwhile, to offset the complexity around the stETH token contract, Lido Finance even incorporated wstETH, a wrapped version of stETH. Herein, the former was specifically designed for smart contract integrations.
Lido chose to support only wstETH – wrapped staked Ether – for several reasons, it claims. However, it only shared that wstETH offered “simplified bridge contracts and ease of integration, both with bridges and general DeFi space.” Hence, the offsetting part.
Source: Messari
Thus, came the extra support to handle the aforementioned integration: Optimism and Arbitrum. On 18 August, Lido Finance
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