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Lido stETH(STETH)

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$3,577.09
(2.5%)
0.05293121 BTC
Market Cap (Rank#1811)
?
? BTC
Vol 24h
$32,547,447
481.614 BTC
Circulating Supply
?
Max Supply
?
39 days agocoindesk
Lido DAO Rebukes LayerZero by Endorsing Rivals Wormhole, Axelar for Crypto Bridge
LayerZero launched a Lido stETH bridge last October without asking for Lido DAO's permission. The community responded this week by endorsing a pair of its biggest competitors.
62 days agocryptopotato
Crypto Wallet Co-Founder Explains How He Fell Victim to a Phishing Attack
Bill Lou lost $125k of stEth in a scam while trying to claim the LFG airdrop. He clicked a fraudulent link from a top Google search.
101 day agocryptodaily
Despite The Hype, Ethereum L2 Blast Has Crypto Users Divided
Ethereum Layer-2 Blast has created unprecedented hype on social media and has seen over $225 million in staked ETH (stETH) and stablecoins deposited since Monday, despite withdrawals being shut until March.
117 days agocointelegraph
LidoDAO launches official version of wstETH on Base
LidoDAO took control of the deployment for a wrapped version of its flagship token, stETH, on Base.
129 days agocointelegraph
9 protocols criticize LayerZero’s 'wstETH' token, claiming it's 'proprietary'
Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router issued a joint statement criticizing the new token.
172 days agocryptopotato
Axelar and Neutron Bring Lido’s Liquid Staking Token to Cosmos
[PRESS RELEASE – New York, USA, September 14th, 2023] The collaboration aims to enhance cross-chain interoperability and support the expansion of wstETH and other assets in the Cosmos ecosystem Neutron, the most secure cross-chain smart-contracting platform for DeFi, and Axelar, the full-stack interoperability layer for Web3, have been selected by Lido, the leading liquid staking […]
172 days agocoindesk
Lido’s Staked Ether Tokens Can Soon Be Used on Cosmos, IBC Blockchains
Lido is the leading provider of liquid-staking solutions and its staking token, stETH, has a $13.8 billion market capitalization.
175 days agocointelegraph
Lido assures LDO, stETH tokens remain safe despite flaw in token contract
The “fake deposit” attack enables bad actors to execute a transfer where the requested value is larger than what the user actually owns.
179 days agocryptopotato
High-Profile Whale Loses Over $24M in Crypto Phishing Attack: Report
The victim lost more than $24 million worth of stETH and rETH in the attack.
194 days agocoindesk
Ether Staking Demand Remains Unfazed as EigenLayer 100k ETH Cap Limit Filled Within Hours
Seattle-based decentralized finance (DeFi) platform EigenLayer has experienced a 207% surge in total value locked (TVL) after it raised its liquid restaking caps to 100,000 staked ether (stETH).
200 days agocryptodaily
TRON DAO Ventures Invests $2 Million in CRV and Curve to Launch on TRON and BTTC
Geneva, Switzerland, August 17th, 2023, ChainwireTRON DAO Ventures, the investment arm of TRON DAO, has recently bought $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on both the TRON and the BTTC networks.Curve is a decentralized exchange acclaimed for its automated market makers (AMMs) tailored for stablecoin trading. Having experienced an exponential surge in the latter half of 2020, it once established itself as the epitome of DeFi platforms. Currently, Curve ranks as the world's second-largest decentralized exchange (DEX) and the largest DEX for stablecoin trading.The recent hack targeting the platform has led to a chain reaction in the DeFi space. TRON founder Justin Sun promptly expressed his support for Curve after the incident, stating, "Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let's support and strengthen the security measures to protect our decentralized ecosystem."Amidst the volatile market on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool on the platform. stUSDT, the world's first rebase real-world asset (RWA) protocol on the TRON blockchain, is hailed as the Web3 world's version of Yu'E Bao (once China’s largest money market fund). According to Defillama, the TVL on stUSDT has already exceeded $700 million.Following that, TRON DAO Ventures announced its investment in Curve, underscoring TRON's ecosystem support not only through collaboration but also through financial backing. Meanwhile, Curve will integrate with the TRON and the BTTC networks as part of the partnership.The collaboration among TRON, BTTC, and Curve is set to generate crucial synergies for the industry. Curve, a foundation infrastructure in the DeFi domain, offers significant advantages in terms of reduced financial costs and time inefficiencies while also supporting prominent public blockchains like Ethereum, Arbitrum, and Avalanche. This collaboration is poised to help further develop TRON's DeFi ecosystem. Meanwhile, as a major driver of DeFi innovation, TRON will share its most secure and cutting-edge products with Curve.The integration between Curve and BTTC will also fuel the growth of DeFi ecosystems, especially DEX platforms. As the industry's first heterogeneous cross-chain interoperability protocol, BTTC has supported cross-chain functionality between TRON, Ethereum, and BNB Chain upon its release. It will also introduce zero-knowledge (ZK) proof technology later this year, which enables users to build dApps seamlessly across different blockchains, promoting an inclusive ecosystem open to everyone.With the backing of TRON and BTTC, Curve anticipates a rapid rebound, and users are bound to witness a more vibrant DeFi ecosystem in the crypto industry.About TRON DAOTRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2023, it has over 179.07 million total user accounts on the blockchain, more than 6.26 billion total transactions, and over $13.01 billion in total value locked (TVL), as reported on TRONSCAN.In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | ForumAbout CurveFounded by Michael Egorov and launched in January 2020, Curve Finance positions itself as a DEX built on an AMM model. It focuses on the trading of stablecoins (USDT, USDC, DAI), synthetic assets/derivatives/staking assets (wBTC, renBTC, stETH), etc. In addition to its stronghold Ethereum, Curve also extended its presence across other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.ContactHayward [email protected]
200 days agocryptodaily
TRON DAO Ventures Invests $2 Million in CRV and Curve to Launch on TRON and BTTC
Geneva, Switzerland, August 17th, 2023, ChainwireTRON DAO Ventures, the investment arm of TRON DAO, has recently bought $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on both the TRON and the BTTC networks.Curve is a decentralized exchange acclaimed for its automated market makers (AMMs) tailored for stablecoin trading. Having experienced an exponential surge in the latter half of 2020, it once established itself as the epitome of DeFi platforms. Currently, Curve ranks as the world's second-largest decentralized exchange (DEX) and the largest DEX for stablecoin trading.The recent hack targeting the platform has led to a chain reaction in the DeFi space. TRON founder Justin Sun promptly expressed his support for Curve after the incident, stating, "Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let's support and strengthen the security measures to protect our decentralized ecosystem."Amidst the volatile market on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool on the platform. stUSDT, the world's first rebase real-world asset (RWA) protocol on the TRON blockchain, is hailed as the Web3 world's version of Yu'E Bao (once China’s largest money market fund). According to Defillama, the TVL on stUSDT has already exceeded $700 million.Following that, TRON DAO Ventures announced its investment in Curve, underscoring TRON's ecosystem support not only through collaboration but also through financial backing. Meanwhile, Curve will integrate with the TRON and the BTTC networks as part of the partnership.The collaboration among TRON, BTTC, and Curve is set to generate crucial synergies for the industry. Curve, a foundation infrastructure in the DeFi domain, offers significant advantages in terms of reduced financial costs and time inefficiencies while also supporting prominent public blockchains like Ethereum, Arbitrum, and Avalanche. This collaboration is poised to help further develop TRON's DeFi ecosystem. Meanwhile, as a major driver of DeFi innovation, TRON will share its most secure and cutting-edge products with Curve.The integration between Curve and BTTC will also fuel the growth of DeFi ecosystems, especially DEX platforms. As the industry's first heterogeneous cross-chain interoperability protocol, BTTC has supported cross-chain functionality between TRON, Ethereum, and BNB Chain upon its release. It will also introduce zero-knowledge (ZK) proof technology later this year, which enables users to build dApps seamlessly across different blockchains, promoting an inclusive ecosystem open to everyone.With the backing of TRON and BTTC, Curve anticipates a rapid rebound, and users are bound to witness a more vibrant DeFi ecosystem in the crypto industry.About TRON DAOTRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2023, it has over 179.07 million total user accounts on the blockchain, more than 6.26 billion total transactions, and over $13.01 billion in total value locked (TVL), as reported on TRONSCAN.In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | ForumAbout CurveFounded by Michael Egorov and launched in January 2020, Curve Finance positions itself as a DEX built on an AMM model. It focuses on the trading of stablecoins (USDT, USDC, DAI), synthetic assets/derivatives/staking assets (wBTC, renBTC, stETH), etc. In addition to its stronghold Ethereum, Curve also extended its presence across other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.ContactHayward [email protected]
201 day agocryptopotato
Merkel Tree-based Proof of Reserves Data released with New Assets stUSDT and stETH
[PRESS RELEASE – Singapore, Singapore, August 15th, 2023] The latest Merkle tree asset proof data in August 2023 includes an update on ETH & stETH and USDT & stUSDT. Users can view Huobi reserves in detail on the asset audit page of Huobi’s official website. The available information includes reserve ratio, Huobi wallet’s assets, and […]
209 days agocryptodaily
Decectralized Lending Service, HopeLend, Now Live on Ethereum 
Hope.money launches its decentralized lending ecosystem, HopeLend. The project aims to reward all participants, including depositors, borrowers, and lenders. Hope.money, a pioneer in bridging DeFi to CeFi and TradFi, has launched HopeLend, a decentralized lending protocol, on the Ethereum network. In an announcement this Tuesday, HopeLend, a decentralized, non-custodial lending protocol, aims to revolutionize the borrowing and lending systems across decentralized finance (DeFi) platforms, allowing users to effectively utilize and interact with digital assets within the HOPE ecosystem and across other DeFi platforms. Regarding the launch, Flex Yang, Founder of Hope.money, said HopeLend will increase the overall liquidity across DeFi ecosystems and reward all participants on the platform to incentivize decentralized borrowing and lending services. “The debut of HopeLend is a milestone for Hope.money, as it represents an important move toward completing its all-in-one ecosystem,” Yang said. “The non-custodial lending protocol enables all users to benefit from it by increasing liquidity for the HOPE Ecosystem through deposits, loans, and liquidations, and rewarding them with $LT.” In addition, HopeLend will also significantly improve the capital efficiency and users’ liquidity within the DeFi space, allowing any user to borrow and lend within the protocol. This blends well with the protocol’s goals of providing frictionless and transparent financial infrastructure for everyone. Unlike legacy DeFi borrowing platforms, HopeLend introduces a pool-based system of borrowing, whereby users directly borrow and deposit to a pool. This eliminates the need for individual loan pairing, making the process of depositing and borrowing easy and frictionless. Hope.money aims to provide an all-in-one financial ecosystem, providing comprehensive utility for its decentralized stablecoin, $HOPE, including swaps, custodial services, clearing and settlement. The launch of HopeLend increases the utility of the stablecoin and will provide a “solid foundation for $HOPE’s future success as a stablecoin”, Yang added. Notwithstanding, HopeLend will also reward every contributor on the platform (depositors, borrowers and lenders) with its governance token, $LT, adding an extra layer of benefits on top of the standard interest income and borrowing services. The rewards distribution will be calculated using the relative Gauge Weights and utilization rates of various asset pools. Apart from regular loans, HopeLend will also offer users flash loans – loans that are borrowed and paid back in one transaction without having to own the assets. Hope.money steps up as a leading DeFi protocol The launch of HopeLend signifies the potential of Hope.money to become a leading protocol in the broader Ethereum DeFi ecosystem. Earlier this month, the protocol added stETH in Hope.money’s reserve pool, which diversifies the assets on the protocol and strengthens the utility and value of $HOPE stablecoin. Additionally, the platform is enhancing the security of users’ funds by forming partnerships with established and trusted digital asset custodians. Following its partnership with Coinbase Custody in April, Hope.money announced a strategic partnership with Cobo, another leading digital asset custodial services provider. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
209 days agocryptodaily
Decectralized Lending Service, HopeLend, Now Live on Ethereum 
Hope.money launches its decentralized lending ecosystem, HopeLend. The project aims to reward all participants, including depositors, borrowers, and lenders. Hope.money, a pioneer in bridging DeFi to CeFi and TradFi, has launched HopeLend, a decentralized lending protocol, on the Ethereum network. In an announcement this Tuesday, HopeLend, a decentralized, non-custodial lending protocol, aims to revolutionize the borrowing and lending systems across decentralized finance (DeFi) platforms, allowing users to effectively utilize and interact with digital assets within the HOPE ecosystem and across other DeFi platforms. Regarding the launch, Flex Yang, Founder of Hope.money, said HopeLend will increase the overall liquidity across DeFi ecosystems and reward all participants on the platform to incentivize decentralized borrowing and lending services. “The debut of HopeLend is a milestone for Hope.money, as it represents an important move toward completing its all-in-one ecosystem,” Yang said. “The non-custodial lending protocol enables all users to benefit from it by increasing liquidity for the HOPE Ecosystem through deposits, loans, and liquidations, and rewarding them with $LT.” In addition, HopeLend will also significantly improve the capital efficiency and users’ liquidity within the DeFi space, allowing any user to borrow and lend within the protocol. This blends well with the protocol’s goals of providing frictionless and transparent financial infrastructure for everyone. Unlike legacy DeFi borrowing platforms, HopeLend introduces a pool-based system of borrowing, whereby users directly borrow and deposit to a pool. This eliminates the need for individual loan pairing, making the process of depositing and borrowing easy and frictionless. Hope.money aims to provide an all-in-one financial ecosystem, providing comprehensive utility for its decentralized stablecoin, $HOPE, including swaps, custodial services, clearing and settlement. The launch of HopeLend increases the utility of the stablecoin and will provide a “solid foundation for $HOPE’s future success as a stablecoin”, Yang added. Notwithstanding, HopeLend will also reward every contributor on the platform (depositors, borrowers and lenders) with its governance token, $LT, adding an extra layer of benefits on top of the standard interest income and borrowing services. The rewards distribution will be calculated using the relative Gauge Weights and utilization rates of various asset pools. Apart from regular loans, HopeLend will also offer users flash loans – loans that are borrowed and paid back in one transaction without having to own the assets. Hope.money steps up as a leading DeFi protocol The launch of HopeLend signifies the potential of Hope.money to become a leading protocol in the broader Ethereum DeFi ecosystem. Earlier this month, the protocol added stETH in Hope.money’s reserve pool, which diversifies the assets on the protocol and strengthens the utility and value of $HOPE stablecoin. Additionally, the platform is enhancing the security of users’ funds by forming partnerships with established and trusted digital asset custodians. Following its partnership with Coinbase Custody in April, Hope.money announced a strategic partnership with Cobo, another leading digital asset custodial services provider. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
210 days agocoindesk
Mantle Introduces New Governing Body for Treasury Management
The new layer 2 network passed a governance vote that establishes the Mantle Economics Committee as well as introduces more liquid staking into the ecosystem by authorizing liquid staking protocol Mantle LSD and the allocation of 40,000 ETH from its treasury to stETH.
213 days agocryptodaily
Polygon Backs $1.5M Institutional DEX D8X Deal, Betting on Rise From CeFi To DeFi
Zug, Switzerland, August 4th, 2023, ChainwireD8X's pre-seed round features Polygon Ventures, Axelar Network, Swissborg Ventures and othersD8X, an institutional-grade decentralized exchange (DEX) for derivatives on Polygon zkEVM, announced a $1.5 million pre-seed round with support from Polygon Ventures and other notable investors. The capital will help D8X launch a decentralized derivatives trading platform in the second half of 2023 that provides a white-labeling solution to trading partners seeking access to powerful derivatives products.The pre-seed round for D8X includes additional participation from Axelar Network, Swissborg Ventures, Cogitent Ventures, Veris Ventures, G1 Ventures, Pragma Ventures, CryptoDiscover and others.“DeFi is reshaping the future of finance. Projects like D8X are building the infrastructure that will help legacy finance to leap into web3,” said Polygon Co-Founder Sandeep Nailwal.Bridging CeFi to DeFiD8X's founders bet on centralized players wanting to offer decentralized crypto derivatives to their clients without having to hire experts to develop in-house market-making and trading engines. D8X provides a white-label solution to partners who act as brokers and earn fees by running their own front ends powered by the D8X trade engine and shared liquidity.Financial Engineering On ChainD8X’s sophisticated on-chain solutions curb costs and offer products that are competitive with centralized exchanges, such as cost-efficient hedging, a prerequisite for building a highly functional derivative trading space. Contract trading allows other DeFi protocols to efficiently hedge on-chain. Their perpetuals can be calibrated for a wide range of assets and support—as a first in DeFi—linear, inverse and quanto perpetuals. At launch, a liquidity pool in Lido's staked ETH (stETH) will enable liquidity providers to earn the Lido yield while simultaneously participating in the DEX’s earnings.D8X is the first business-to-business (B2B) DEX built on Polygon’s zkEVM, harnessing the power of zero-knowledge proofs to cut transaction fees, increase security and scale operations across the Polygon and Ethereum networks.“D8X is part of a driving force of innovation and community in Polygon’s 2.0 zero-knowledge space,” said Polygon Director of Growth Hamzah Khan.D8X is a fully decentralized DEX following regulatory guidance from Switzerland’s financial market regulator FINMA.“We thank all our investors for believing in D8X's vision to bring truly decentralized derivatives as white-labeling solutions to institutions. With best-in-class financial engineering and risk management, D8X is changing the way decentralized derivatives are traded,” said D8X co-founder Caspar Sauter.The production codebase of D8X was audited by PeckShield and an earlier version was audited by Hacken.About D8XD8X is a Polygon Ventures-supported institutional-grade perpetual futures DEX with a financial engineering approach that elevates the way perpetual futures can be traded on-chain. Think of a powerful and decentralized trading platform on Polygon zkEVM that offers white-labeling to institutions. D8X’s pricing mechanism adapts to changing market conditions protecting liquidity providers and profitable traders in volatile periods, resulting in superior DeFi trading conditions.D8X | Twitter | GitHub | DocsContactPR DirectorPatrick [email protected]
213 days agocryptodaily
Polygon Backs $1.5M Institutional DEX D8X Deal, Betting on Rise From CeFi To DeFi
Zug, Switzerland, August 4th, 2023, ChainwireD8X's pre-seed round features Polygon Ventures, Axelar Network, Swissborg Ventures and othersD8X, an institutional-grade decentralized exchange (DEX) for derivatives on Polygon zkEVM, announced a $1.5 million pre-seed round with support from Polygon Ventures and other notable investors. The capital will help D8X launch a decentralized derivatives trading platform in the second half of 2023 that provides a white-labeling solution to trading partners seeking access to powerful derivatives products.The pre-seed round for D8X includes additional participation from Axelar Network, Swissborg Ventures, Cogitent Ventures, Veris Ventures, G1 Ventures, Pragma Ventures, CryptoDiscover and others.“DeFi is reshaping the future of finance. Projects like D8X are building the infrastructure that will help legacy finance to leap into web3,” said Polygon Co-Founder Sandeep Nailwal.Bridging CeFi to DeFiD8X's founders bet on centralized players wanting to offer decentralized crypto derivatives to their clients without having to hire experts to develop in-house market-making and trading engines. D8X provides a white-label solution to partners who act as brokers and earn fees by running their own front ends powered by the D8X trade engine and shared liquidity.Financial Engineering On ChainD8X’s sophisticated on-chain solutions curb costs and offer products that are competitive with centralized exchanges, such as cost-efficient hedging, a prerequisite for building a highly functional derivative trading space. Contract trading allows other DeFi protocols to efficiently hedge on-chain. Their perpetuals can be calibrated for a wide range of assets and support—as a first in DeFi—linear, inverse and quanto perpetuals. At launch, a liquidity pool in Lido's staked ETH (stETH) will enable liquidity providers to earn the Lido yield while simultaneously participating in the DEX’s earnings.D8X is the first business-to-business (B2B) DEX built on Polygon’s zkEVM, harnessing the power of zero-knowledge proofs to cut transaction fees, increase security and scale operations across the Polygon and Ethereum networks.“D8X is part of a driving force of innovation and community in Polygon’s 2.0 zero-knowledge space,” said Polygon Director of Growth Hamzah Khan.D8X is a fully decentralized DEX following regulatory guidance from Switzerland’s financial market regulator FINMA.“We thank all our investors for believing in D8X's vision to bring truly decentralized derivatives as white-labeling solutions to institutions. With best-in-class financial engineering and risk management, D8X is changing the way decentralized derivatives are traded,” said D8X co-founder Caspar Sauter.The production codebase of D8X was audited by PeckShield and an earlier version was audited by Hacken.About D8XD8X is a Polygon Ventures-supported institutional-grade perpetual futures DEX with a financial engineering approach that elevates the way perpetual futures can be traded on-chain. Think of a powerful and decentralized trading platform on Polygon zkEVM that offers white-labeling to institutions. D8X’s pricing mechanism adapts to changing market conditions protecting liquidity providers and profitable traders in volatile periods, resulting in superior DeFi trading conditions.D8X | Twitter | GitHub | DocsContactPR DirectorPatrick [email protected]
243 days agocoindesk
Aave Holders Vote on Proposal for DeFi Protocol to Convert 1,600 Ether Into wstETH and rETH
Holders of Aave, the token that underpins its namesake's decentralized finance (DeFi) protocol, are taking part in a governance vote that will decide whether 1,600 ether (ETH) in the protocol's treasury will be converted to wrapped staked ether (wstETH) and rocket pool ether (rETH).
244 days agocryptodaily
The First Real World Asset Product stUSDT Launches on the TRON Blockchain
Geneva, Switzerland, July 4th, 2023, ChainwireToday, the TRON ecosystem welcomes its first Real World Asset (RWA) product, stUSDT, which is operating through the decentralized platform JustLend. TRON founder and member of Huobi's global advisory board, Justin Sun, has voiced his belief that stUSDT will evolve into the crypto version of Alipay’s Yu’e Bao, a money market fund product offered by Alibaba. Sun is convinced that it will serve as a bridge connecting traditional markets to blockchain ecosystems while empowering crypto users with more options. From July 10 to August 10, 2023, the stUSDT platform is set to launch a welcome campaign offering an increased APY of up to 10% (normally expected to be around 5%) to enhance users’ first experience with RWAs on TRON. Users can also enjoy discounts on redemption fees of stUSDT from July 3 to August 10. Please refer to Medium for daily updates on the RWA fund allocation and rebases.With a vast global user base and a $50 billion stablecoin market cap, stUSDT, a TRON-based RWA product, has sparked considerable industry excitement upon its introduction. It is primed to serve as a cornerstone for TRON's RWA endeavors and towards building a financial gateway that aims to empower 8 billion people worldwide.TRON's RWA product unleashes new opportunitiesToday, RWA is a popular concept in the crypto industry. The stUSDT platform is dedicated to narrowing the divide between retail and institutional investors while connecting the crypto realm with the real world. stUSDT ensures equal opportunities for all to invest in RWAs. This is the first endeavor in the TRON ecosystem to tokenize RWAs and introduce them to the community.stUSDT, the TRON ecosystem's answer to stETH on the Lido protocol, is a decentralized token that serves as proof of investment in RWAs and its holders can earn passive incomes from real world assets. stUSDT introduces more decentralized and robust asset management mechanisms. The ultimate goal of stUSDT is to optimize return opportunities for on-chain users from real world assets. Launched by RWA DAO, stUSDT is operated by JustLend DAO under the custody agreement between the two parties. JustLend DAO boasts the highest TVL on TRON and ranks among the top DeFi projects. In addition, TRON hosts the largest circulating supply of USDT (over $46 billion) and a TVL second only to Ethereum, which will also drive the organic growth of stUSDT. The stUSDT team is confident to see an influx of new users and wider expansion of the TRON ecosystem at large.Create the Web3 counterpart of Yu’e Bao, combining the physical world with Web3Current market participants are consistently devoting time and effort to stay ahead of the curve regarding any new tech or product developments in the crypto sphere, and the sheer size of market expansion over the past few years speaks volumes. The inception of liquidity mining during the "DeFi Summer" of 2020 has given rise to a booming decentralized lending market. Back then, in the realm of USD-pegged stablecoins, a deposit rate of 10% was hardly a surprise. When the real world interest rates were low, liquidity gravitated towards on-chain DeFi lending markets.However, with a shift in market trends, some real world assets have now regained a much stronger position. For example, the US Fed Funds Rate has surged past 5%, making the dollar a sought-after risk-free asset. Under this latest macroeconomic backdrop, the DeFi sector has its eyes on RWAs in an attempt to venture into new markets. In traditional finance, Yu’e Bao, Alipay's money market fund product, has become a handy investment vehicle. The TRON-based stUSDT is positioned as the Yu’e Bao of Web3, whose debut unveils a new chapter for the TRON ecosystem to potentially replicate the success story of Alipay. Just as Alipay cracked the market open with its payment services before expanding its user base with Yu’e Bao, TRON has solidified its leading position in Web3 on-chain payment infrastructure across the globe, before the ecosystem ventures to new heights via the launch of stUSDT.Similar to Alipay’s Yu’e Bao, stUSDT enables users to engage with passive incomes and withdraw their assets at any time while enjoying the transparency, security, and immutability brought by blockchain technology. stUSDT provides a wide range of opportunities for users by connecting on-chain assets with real-world assets. Supported by TRON's robust ecosystem, the platform commits to a user-centric approach and serves as a dynamic bridge between traditional finance and blockchain. It is poised to attract a new mass of blockchain enthusiasts, further expanding the TRON DAO community. By further facilitating the integration of blockchain with traditional finance, stUSDT aims to propel the next stage of growth in the blockchain industry.About stUSDTThe stUSDT.io platform is the first RWA platform on the TRON network, providing a secure and equitable channel for every blockchain user to engage with real world assets through decentralized smart contracts. Its goal is to establish a decentralized RWA investment and management mechanism, bringing real world assets into the TRON ecosystem.The platform token of stUSDT.io, stUSDT, is a decentralized token that serves as proof of investment in real world assets, enabling its holders to earn passive incomes.ContactSam [email protected]
256 days agocoindesk
Tron Founder Justin Sun Unstakes $30M of Ether from Lido, Sends Tokens to Huobi
Crypto wallets linked to Sun still hold some $543 million in Lido’s stETH token, according to Arkham Intelligence data.
257 days agocoindesk
Raft’s R Stablecoin Surges as Traders Embrace Liquid Staking Ether Products
While Raft is centered around its R stablecoin backed by Lido’s stETH, the team has had ongoing conversations about introducing RAFT, an additional token intended to empower community members and help decentralize the protocol
272 days agocoindesk
First Mover Asia: Why Did Bitcoin Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets
ALSO: Lido’s stETH token has become the seventh largest token by market cap, right ahead of Cardano and just behind XRP, according to data from CoinGecko. What's behind its ascent?
273 days agocoindesk
New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing
Its R stablecoin is collateralized by one crypto asset: liquid staking leader Lido’s staked ether (stETH).

About Lido stETH?

The live price of Lido stETH (STETH) today is 3,577.09 USD, and with the current circulating supply of Lido stETH at ? STETH, its market capitalization stands at ? USD. In the last 24 hours STETH price has moved ? USD or 0.00% while ? USD worth of STETH has been traded on various exchanges. The current valuation of STETH puts it at #1811 in cryptocurrency rankings based on market capitalization.

Learn more about the Lido stETH blockchain network and how it works or follow the price of its native cryptocurrency STETH and the broader market with our unique COIN360 cryptocurrency heatmap.


Lido stETH Price3,577.09 USD
Market Rank#1811
Market Cap? USD
24h Volume32,547,447 USD
Circulating Supply? STETH
Max SupplyNo data
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