DeFi

Lido proposes an alliance promoting a restaurant ecosystem based on stETH

Published

8 months ago

17 May, 2024

Lido proposes an alliance promoting a restaurant ecosystem based on stETH

Lido has suffered several months of capital outflows as liquidity buyback protocols expand.

Lido, the leading Ethereum liquid staking protocol, wants to foster a new restoration architecture built around its stETH token.

On May 13, Steakhouse Financial, a web3 financial advisory firm, released a proposal advocate for the creation of the Lido Alliance to approve “Ethereum-aligned” projects through a “general approval and partnership framework”.

The alliance would focus on rebalancing by fostering the development of infrastructure built around Lido’s liquid staking token (LST), stETH. Steakhouse outlined three types of protocols the alliance seeks to promote, including new projects providing permissionless recovery architecture, the creation of permissionless recovery tokens (LRT), or the development of actively delegated services (AVS).

“Lido Alliance is a framework… allowing the Lido DAO to identify and recognize projects that share the same values and mission, and that have a way to positively contribute to the stETH ecosystem,” the proposal states. “Developing an Ethereum-aligned ecosystem around stETH helps decentralize the network. »

If passed, Lido would create an Alliance working group tasked with evaluating potential members, assisting existing members, and excluding members deemed to violate the principles of the Ethereum Alignment Alliance or stETH.

The operations and membership of the Alliance would be governed by LDO token holders.

Lido experiences capital outflows as LRTs rise

The proposal comes as Lido faces stiff competition from Liquid Restoration Token (LRT) protocols and EigenLayer for market share on staked Ethereum.

Replenishment allows users to earn additional returns on top of Ethereum staking rewards by delegating staked assets to validate third-party AVS deployed on EigenLayer, which is currently positioned as the only major replenishment protocol in Ethereum. ‘Ethereum.

The growing popularity of catering has recently come at the expense of Lido’s market share, with users withdrawing $1.4 billion of Ether from Lido in 30 days as of April 24. For comparison, the LRT EtherFi and Renzo protocols enjoyed inflows of $1.2 billion and $429 million, respectively, over the same period.

The trend of LRT protocols eating Lido’s lunch has continued to persist since, with EtherFi and Renzo posting inflows of $396.4 million and $324.5 million over the past 30 days while 151.7 Millions of dollars worth of Ether have left Lido.

StETH currently represents 28.7% of the staked ETH supply, compared to a peak of 32.5% in September. As such, Lido ranks as the largest DeFi protocol with a total value locked (TVL) of $27.4 billion, followed by EigenLayer with almost $14.5 billion, according to DeFi Llama.

On May 10, Hasu, Lido strategic advisor, also job a governance proposal aimed at formalizing Lido’s position regarding re-flexibility.

The proposal aims to assert that stETH should remain an LST token and not migrate to an LRT, establish stETH as the primary collateral asset used in reinvestment, and support “Ethereum-aligned validation services.”

“The staking market is dominated by network effects, leading to a winner-take-all dynamic,” Hasu said. “The Lido should respond to changing tides.”

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ktsdesign