As a seasoned researcher with a focus on blockchain technology and decentralized finance, I find the recent development of Lido Institutional intriguing. With my background in understanding the complexities of the DeFi landscape, I can appreciate the strategic move by Lido to cater to institutional investors.
The decentralized finance platform, Lido, has introduced a novel staking service specifically designed for larger investment entities.
On August 2nd, Lido unveiled Lido Institutional – a custom-tailored liquid staking service aimed at servicing the demands of custodians, fund managers, digital exchanges, and other institutional players.
“Lido’s recent launch of Lido Institutional signifies their continuous dedication to delivering a top-notch staking service that caters to the stringent requirements of custodians, fund managers, exchanges, and other entities,” Lido stated in a recent announcement.
Security and deep liquidity
Lido, the powerhouse behind Ethereum‘s top liquid staking token, Lido Staked Ether (stETH), aims to strengthen its leadership role with a fresh offering. This new solution is designed to grant institutional investors easy access to Lido’s robust security, extensive liquidity, and attractive staking rewards.
With Lido Institutional, you get the opportunity to spread your risk among various parties. This allows you to collect staking rewards from a broad pool of over 100 node operators.
A number of liquid staking solutions like Ether.fi and Renzo have appeared since Ethereum switched from a proof-of-work to proof-of-stake system, aiming to rival Lido. Nevertheless, Lido persists as the most significant staking platform in the DeFi sector.
Based on information from DeFiLlama, the current value of cryptocurrency deposited in Lido is more than $31 billion. At its highest point in March, the total value locked within this protocol exceeded $39 billion.
As a crypto investor, it was thrilling to witness Ethereum’s price break the $4k barrier for the first time since hitting an all-time high of over $4.8k back in November 2021. Notably, many altcoins also saw significant surges, indicating a heightened level of institutional interest in the crypto market.
stETH dominance
Currently, staked Ether (stETH) issued by Lido is the most prominent and broadly accepted collateral token within Decentralized Finance, with a value exceeding $10 billion thus far.
Solutions for custody that seamlessly incorporate native stETH are available with providers like Fireblocks and Taurus. On the other hand, conventional trading and investment platforms offering access include Matrixport and Swissborg.
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2024-08-03 01:25