Lido

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.

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.