• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

Ethereum 2.0 staking service launches token with $1.4b fully diluted valuation

January 5, 2021
in Cryptocurrency
Reading Time: 3min read
Ethereum 2.0 staking service launches token with $1.4b fully diluted valuation


Long-time cryptocurrency investor and crypto Twitter personality “Crypto Cobain”, a.k.a. “Cobie,” and also known as Jordan Fish, began to drop hints of his latest project late in 2020.

Lido is ______

— KING CO฿IE 🌙 (@CryptoCobain) October 9, 2020

He created a Twitter account, Telegram channel, and website, branded with the word “Lido” and a facsimile of Ethereum’s logo but in a different color.

Months later, the project has launched its native cryptocurrency. And due to the extreme strength in the altcoin market, it launched at a fully-diluted market capitalization in excess of $1 billion.

What is Lido?

Lido is an Ethereum 2.0 staking service where users can deposit ETH, which is then pooled into Ethereum 2.0 validator nodes. This system gives users stETH, a liquid version of this staked Ethereum on the upgraded chain, that bears interest due to validator rewards on the upgraded network. As the site reads:

“Deposit Ether to the smart contract and get stETH tokens in return. You earn staking rewards for every day of holding these tokens in your wallet. They are fully liquid, so you can use them for your needs at any time — trade, sell, exchange, invest in DeFi projects, etc.”

What sets Lido apart from self-hosting an Ethereum 2.0 validator node is that users could have and still can deposit less than the 32 ETH threshold needed for individual stakers.

The product was launched by “Cobie” as aforementioned, and has been supported by the following DeFi industry leaders:

Chorus One, Staking Facilities, Certus One, Argent, Banteg (yearn.finance), Alex Svanevik (Nansen), Anton Bukov (1inch), Michael Egorov (Curve/Nucypher), Rune Christensen (MakerDAO), Will Harborne (DeversiFi) and Mustafa Al-Bassam (LazyLedger)

While there were no expectations of the project launching a token, they did.

LDO sees massive launch, airdrop for early users

Two hours ago, the Lido team rolled out the LDO token, a governance token for this staking protocol. As the announcement reads:

“Our mission with the Lido DAO is to distribute all decision-making to create a trustless staking service built around community-growth and self-sustainability. This is achieved through the LDO governance token. The launch of LDO is a significant step towards achieving this goal, driving decentralised ownership and facilitating development of a distributed, independent governance structure to lead the Lido DAO.”

LDO is here 🏝️

We are excited to announce the distribution of the Lido DAO governance token – LDO.

Learn more about LDO utility, distribution and architecture here: https://t.co/mCU4DxzpZX

— Lido (@lidofinance) January 5, 2021

What made this launch extremely interesting is that there was an airdrop to early minters of stETH, which is the representation of staked Ethereum 2.0 ETH via Lido.

There are reports of users depositing only a few ETH into Lido only to received airdropped LDO that can now be sold via Uniswap for thousands of dollars.

Larger stakers, too, earned tens of thousands or even hundreds of thousands of dollars worth of LDO tokens.

Some of the claims can be seen here.

LDO now trades at a fully-diluted market capitalization of over $1.4 billion as investors buy into the cryptocurrency, which has a low float as a result of a long distribution time.

Like what you see? Subscribe for daily updates.





Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: 14bdilutedEthereumFullyLaunchesServiceStakingTokenvaluation
Next Post
Was this $1,300 Crypto Mining Rig a GOOD BUY?! EASY MONEY??

Was this $1,300 Crypto Mining Rig a GOOD BUY?! EASY MONEY??

BREAKING: CRYPTOCURRENCY INVESTORS ARE SELLING BITCOIN IN DECEMBER 2020 | Is BTC Price about to Dip?

BREAKING: CRYPTOCURRENCY INVESTORS ARE SELLING BITCOIN IN DECEMBER 2020 | Is BTC Price about to Dip?

Don't Miss

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume
Altcoin

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

by Lascena Cryptocurrency News Education
February 27, 2021
0

Today has been a monumental day for Cardano. Caught within the recent crypto bull market, its token, ADA, hit...

Read more
Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”

Economist paints woeful outlook if Bitcoin were to ever succeed

February 27, 2021
CARDANO MASSIVE NEWS!!! SHELLEY, STAKING, DEFI & COINBASE LISITING – WOW – CRYPTO 2020

CARDANO MASSIVE NEWS!!! SHELLEY, STAKING, DEFI & COINBASE LISITING – WOW – CRYPTO 2020

February 27, 2021
URGENT!!! Secrets Of Ripple XRP and Gold | Robert Kiyosaki

URGENT!!! Secrets Of Ripple XRP and Gold | Robert Kiyosaki

February 27, 2021
BREAKING: If You Hold Ethereum You NEED to See This!! Cryptocurrency Co-Founder Major Announcement!

BREAKING: If You Hold Ethereum You NEED to See This!! Cryptocurrency Co-Founder Major Announcement!

February 27, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$47,146.000.19%
  • ethereumEthereum(ETH)$1,476.30-2.22%
  • cardanoCardano(ADA)$1.3822.08%
  • tetherTether(USDT)$1.000.89%
  • Binance CoinBinance Coin(BNB)$226.920.52%
  • PolkadotPolkadot(DOT)$34.389.20%
  • rippleXRP(XRP)$0.4458342.19%
  • litecoinLitecoin(LTC)$174.93-0.45%
  • chainlinkChainlink(LINK)$25.940.79%
  • stellarStellar(XLM)$0.44255615.66%