Lido

Parallel Network and Lido Finance have partnered to introduce stETH deposits and native staking to Parallel Network's omni-chain L2.

stETH deposits are now live on the ZircuitL2 mainnet platform.

The latest update in the Lido Community Staking series discusses the reward distribution for operators using Lido protocol, focusing on validator and bond rewards smoothing between modules to reduce disparity. Performance Threshold is introduced for rewarding validators based on their performance, discouraging free-riding. Additionally, strategies to address potential MEV stealing involve temporary bond locking with penalties enforced through on-chain governance. Stay tuned for upcoming content on Stake Allocation & Validator Exits/Ejections.

1inch has been introduced as the latest Lido withdrawal aggregator, offering instant swaps between stETH/wstETH and ETH. It is a DeFi aggregator optimized for various chains and guarantees the best rates by aggregating prices across numerous DEXs.

The Q4 report reveals that 6 additional Node Operators completed their onboarding. Most Node Operators are now below the soft cap of 1%. The usage of the Geth client fell from 76% to 67% in Q4. More Node Operators are committing to reducing reliance on the supermajority client. All new onboarders from Wave 5 have completed their infra setup. A new section on network credible neutrality and censorship has been added to the report.

The Lido testnet on Goerli will no longer be supported after February 29th, 2024. Withdraw (w)stETH before this date. Testnet activities will move to Holesky where a new Lido testnet is operational.

@taurus_hq partners with Lido protocol to offer Ethereum staking services to Swiss banks and corporate clients, combining liquid staking benefits with banking-grade custody. Taurus' clients can stake ETH, access rewards, and use stETH for DeFi activities. Taurus is a preferred platform for large financial institutions in Europe, with over half of Swiss banks using its infrastructure.

Lido's TVL increased by 10.80% to $24.20b, with +145,664 ETH in net staking deposits and stETH APR slightly rising to 3.49%. The amount of stETH bridged to L2 decreased by 0.36% to 144,648 wstETH. In comparison to the previous week, Lido experienced significant growth in TVL and ETH deposits, maintaining its lead in net new staking deposits among DeFi protocols.

The fourth round of Lido DVT Testnets with ObolNetwork and SSV Network is set to begin in March, following the successful completion of the Lido x Obol Simple DVT testnet where ObolNetwork surpassed all required benchmarks. The upcoming trials aim to further decentralize the Lido protocol and Ethereum, with over 100 net-new Node Operators expected to run validators via the Lido protocol within Q1 2024. Interested solo or community stakers can fill out a form to participate in the upcoming trials scheduled to start in March.

As of February 7, 2024, 25% of the ETH supply has been staked.