Lido

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.

139 net-new node operators have been chosen to join the Lido protocol through the @ObolNetwork onboarding, marking a significant increase. Out of 195 testnet participants evaluated, 161 have been selected across various categories. These candidates demonstrated strong performance and reliability. The selected operators will run nodes in 36 countries using diverse infrastructure. Over 250 new Node Operators are expected to run DVT based validators in the first few months, representing a 700% increase. More stakers are anticipated to be proposed after the @SSV_Network testnet concludes. Interested parties can apply for the next testnets scheduled for March.

Lido has introduced the 'Community Staking Fleet Pilot,' a program aimed at supporting communities interested in expanding their Ethereum staking knowledge. Through collaborations with Lido Community Lifeguards, interested communities will receive assistance with workshops, setting up validators, hosting events, and creating content. The program, linked to @LidoGrants, offers grants to fund community initiatives like workshops, events, and infrastructure improvements. Those interested in participating can reach out to learn more.

As of February 28, 2024, 26% of the ETH supply has been staked.

Lido's TVL increased by 8.74% to $30.7b. Over 21,984 ETH deposited through Lido. stETH 7d APR at 3.37%. Notable (w)stETH trading volume at $1.16b. wstETH to L2 up by 1.02% to 142,501 wstETH.