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🏛️Giant Lido unveils its own Ether restaking solutions – What is it?
🚨📊💹 Lido, the largest liquid staking protocol on the Ethereum network with more than $33.5 billion in total value blocked (TVL), is seeing its dominance diminish in the face of the new restaking trend and particularly because of Eigenlayer, a player in this sector with the wind in its sails.
🔶 In a few words, restaking is a process which consists of putting back into play one's ETH already placed in staking, but by exposing oneself to additional slashing conditions determined arbitrarily by each intermediate software (or "middleware").
🔶 Faced with this situation, Lido, which is controlled by a decentralized autonomous organization (DAO) whose governance token is the LDO, decided to respond by announcing on its networks a collaboration with Mellow Finance and the Symbiotic protocol to introduce strategies Restaking DeFi
🔷 This new initiative – the launch of 4 restaking products focused on the stETH token on Mellow Finance – is the first example of reGOOSE and “The Lido Alliance” in action. It's also the first hint of how Symbiotic, which incidentally is a startup backed by Lido's co-founders and largest investor Paradigm, could play a key role in Lido's future plans. #lido #staking #MellowFi #Ethereum✅ #dao
🚨📊💹 Lido, the largest liquid staking protocol on the Ethereum network with more than $33.5 billion in total value blocked (TVL), is seeing its dominance diminish in the face of the new restaking trend and particularly because of Eigenlayer, a player in this sector with the wind in its sails.
🔶 In a few words, restaking is a process which consists of putting back into play one's ETH already placed in staking, but by exposing oneself to additional slashing conditions determined arbitrarily by each intermediate software (or "middleware").
🔶 Faced with this situation, Lido, which is controlled by a decentralized autonomous organization (DAO) whose governance token is the LDO, decided to respond by announcing on its networks a collaboration with Mellow Finance and the Symbiotic protocol to introduce strategies Restaking DeFi
🔷 This new initiative – the launch of 4 restaking products focused on the stETH token on Mellow Finance – is the first example of reGOOSE and “The Lido Alliance” in action. It's also the first hint of how Symbiotic, which incidentally is a startup backed by Lido's co-founders and largest investor Paradigm, could play a key role in Lido's future plans. #lido #staking #MellowFi #Ethereum✅ #dao
