Lido

Lido Finance has announced a new incentive program that allows users to borrow eBTC (ERC-20 representation of Bitcoin) at no cost by depositing ETH or WETH as collateral. Participants will receive stETH staking rewards and additional stETH incentives from Lido Finance. This program is a collaboration between Lido Finance and the eBTC protocol.

Lido Finance has announced the launch of eBTC, a decentralized Bitcoin built for Ethereum DeFi. Users can now deposit ETH, WETH, stETH or wstETH as collateral to borrow eBTC at no cost. The protocol also offers a 'Get Paid to Borrow Bitcoin Incentive Program' where borrowers receive stETH staking rewards and incentives from Lido. This integration between Lido Finance and eBTC protocol aims to provide a seamless way for users to access Bitcoin within the Ethereum ecosystem.

Lido Finance, a prominent decentralized finance protocol, has released the draft architecture description for its Community Staking Module. This development comes after the protocol's recent community call, where the core theme was module decentralization. Lido Finance is actively working on enhancing the distribution mechanisms for its staking router and expanding its community engagement initiatives, such as the Lido Community Lifeguards program.

Lido's total value locked (TVL) decreased by 6.98% to $35.82 billion (9.79 million ETH) last week due to token price corrections and moderate unstaking. A net 71,104 ETH was unstaked through Lido in the past seven days. The 7-day staked ETH (stETH) annual percentage rate (APR) is down 18 basis points to 3.49%. The amount of (wrapped) stETH in liquidity pools increased by 1.44% to 101,000 stETH, while the amount in lending pools decreased by 2.74% to 2.95 million stETH. The 7-day trading volume for (w)stETH was $1.80 billion, 34.7% higher than the previous week. The amount of wstETH bridged to Layer 2 networks increased by 1.24% to 142,829 wstETH, with Arbitrum holding the largest share at 93,008 wstETH. The amount of wstETH bridged to the Cosmos ecosystem increased by 1.99% to 1,847 wstETH.

Participants in the Simple DVT are reminded that the deadline to apply for the Obol Network is approaching on Wednesday, March 20th. Applications must be submitted by the end of the day. The form for SSV Network participants will remain open for a few more weeks. Those interested in either network are encouraged to submit their interest through the provided links.

The decentralized autonomous organization (DAO) has announced four new proposals open for voting on the Snapshot platform. The proposals include implementing simple on-chain delegation, updating the rewards share program, reinstating @InfStones to active status, and launching a wstETH bridge to @Scroll_ZKP. All votes will conclude on March 21 at 4 PM UTC.

Several Layer 2 scaling solutions are offering low gas fees for staking operations. Optimism has the lowest fee at $0.01, followed by Base at $0.02, Arbitrum at $0.06, zkSync at $0.10, Mantle at $0.41, and Linea at $0.65. This development makes staking more accessible and cost-effective for users.

Venus, a decentralized finance protocol, has announced partnerships with several prominent projects in the Ethereum ecosystem. CurveFinance, LidoFinance, and FraxFinance have been welcomed as launch partners, with matching XVS token rewards totaling $1.3 million. Additionally, a $150,000 grants program managed by Gitcoin has been established. Venus is also offering 100,000 XVS rewards for liquidity providers on markets including Bitcoin, Ethereum, USDC, and USDT in preparation for the upcoming VenusPrime launch. The protocol is encouraging its community to participate in governance by staking XVS tokens and voting on upcoming proposals.

Lido Finance, in collaboration with Base, has announced the release of the first wstETH Hyper-Staking Vault on the Base platform. Built on top of Aave, this vault allows wstETH holders to maximize their capital efficiency with a single click, providing a safe and streamlined staking experience.

The Lido validator set has announced several updates for the month of February. These include a request for proposals (RFP) for integrating the Community Staking Module (CSM) and simplified Distributed Validator Technology (sDVT), a proposal for a community staking fleet, developments in the Simple DVT, and progress on the Community Staking Module.