• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
Ethereum Backed Staking Service Lido Finance Plans Its Expansion Across Layer 2

Ethereum Backed Staking Service Lido Finance Plans Its Expansion Across Layer 2

Denis
by Denis
3 years ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Lido Finance, a cryptocurrency staking service firm, declares its intention to spread across the Ethereum Layer two networks. Furthermore, the company announced that it would extend its support to the Ethereum ecosystem through its services on staked Ether (stETH).

The Lido team revealed its plans through a blog post. It stated that its fundamental step is to maintain Ether staking through L2 bridges while using wrapped stETH (wstETH). Progressively, it would eliminate the need for bridging users’ assets back to the mainnet of Ethereum. Hence, users can directly stake their tokens on Layer two networks.

Related Reading | By The Numbers: The $1.2 Billion Hole In Celsius’ Balance Sheet

The service provider primarily focuses on ETH staking services. Its users are rumored to receive about 3.9% annual yields using the platform. Also, the firm offers staking rewards on different assets such as Polkadot (DOT), Solana (SOL), and Kusama (KSM).

Its record shows over 4.2 million Ether staked on the site, worth about $6.5 billion. This value places Lido as one of the largest platforms in total stETH value. Also, it stands as the second largest in total value locked (TVL) within the DeFi ecosystem.

In its operation, when a user deposits ETH on Lido, the platform mints a tokenized version of the deposit as stETH. The minted token can serve yield services or borrow from other decentralized protocols.

Additionally, Lido has been stretching its partnership with other Layer two networks. Before their announcement, the service team mentioned that the company had already completed its bridged staking service with Aztec and Argent. Further, it is moving toward more integration and collections, which it intends to reveal in the coming weeks.

The Lido team also acknowledged that on completing its L2 staking support, activities would start with Optimism and Arbitrum, the L2 champions. Then, the company would gradually extend its activities to other L2 networks with positive records of economic activities.

Benefits Of Using L2s For Ethereum Staking Firm Lido Finance

The staking service firm aims to ensure its users enjoy lower fees while staking ETH and other tokens. This comes from the concept that L2s are developed to cut costs for Ethereum transactions. Also, the company is working toward offering its customers access to diverse, decentralized applications that maximize their yield while staking.

Also, the team stated that the L2 networks require a staking solution to create more support for their users’ economic operations. So, its plans spread to ensure that Ethereum users are committed to maintaining the security of the entire ecosystem.

Related Reading | Tighter Crypto Regulations Says Singapore’s Central Bank, Here’s Why

Usually, stETH has an equal pegging to Ether with a ratio of 1:1. But due to the collapse of the Terra ecosystem in May, the peg falls to 0.95 of 1 Ether.

Ethereum Backed Staking Service Lido Finance Plans Its Expansion Across Layer 2
Eth/USDT mints modest gains. Source: TradingView.com

Long-term holders and stakers have limited risks with the depegging of the staked ETH. The severity is more on those that pull out leveraged positions on the asset, which could amount to liquidation. Distorted companies such as Three Arrow Capital (3AC) and Celsius Network have reports of using stETH.

Currently, Lido operates with the correct ratio of 1:1 for exchange between ETH +and stETH. But one of its partners, 1inch, DeFi exchange aggregator is offering up to 2.36% discount while minting stETH. Hence, while using 1inch, depositors get more stETH for their deposited ETH.

Featured image from Shutterstock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Denis

Denis

Follow

Denis is a passionate writer and editor and he's been writing in finance industry for almost 6 years.

Full Profile

Related Posts

Ethereum

BitDigital Becomes First Public Ethereum DAT To Deploy Unsecured Leverage – Details

1 day ago
ethereum_eth_ethusd_optimized

Ethereum Breaks Key Resistance: Will ETF Inflows Help ETH Sustain Above $4,300?

3 days ago
Ethereum news

Ethereum Foundation Unveils Next Phase Of Its Privacy Revolution

3 days ago
$2B USDT Just Minted On Ethereum: Fresh Liquidity For Uptober?

$2B USDT Just Minted On Ethereum: Fresh Liquidity For Uptober?

3 days ago
Ethereum

Ethereum Sharp Exchange Outflows Sparks A Historic Supply Squeeze, Here’s What It Means

3 days ago
Ethereum

Ethereum Usage Skyrockets With Unprecedented Daily Transaction Growth Amid Market Fluctuations

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    3 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    3 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    3 days ago
  • 狗狗幣引領『Uptober』Meme...

    3 days ago
  • ตัวละคร Snorter ขนฟูโต้คลื่นบนเซิร์ฟบอร์ดสีชมพู

    จับตา Uptober!...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.