$500K worth of stETH redeemed in 3 hours as Lido enables withdrawals

by Aurelia Butler 16 May 2023, 00:00 199 Views

Lido is a liquid staking derivatives (LSD) protocol that allows ETH holders to stake their coins with participating validators and earn additional ETH as a reward. When users stake their ETH with Lido, they receive stETH in return. As users earn ETH from staking, their stETH increases in quantity to reflect the additional rewards.

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Source: Cryptocurrency - investing.com

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$500K worth of stETH redeemed in 3 hours as Lido enables withdrawals

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