Lido

Lido has added ParaSwap to its Withdrawal Aggregator, allowing users to skip withdrawal queues with instant swaps between stETH/wstETH and ETH. ParaSwap is an aggregator that offers fast swaps across various networks. It checks rates on multiple liquidity sources to get users the best rate.

Lido Node Operators using the Lido protocol are actively working to improve EL client diversity. Efforts are underway to reduce supermajority client risk in Ethereum, with the goal of reducing majority client usage below 2/3rds. Node Operators have begun signaling their commitments to reduce majority client usage and avoid supermajority bugs. The progress is tracked and reported transparently in the VaNOM report.

Lido on Solana frontend support will end on February 4th, 2024. Users are advised to unstake any remaining stSOL before then. Unstaking will only be possible using the CLI after this date. For more information and guides on how to unstake using different wallets, please refer to the original sunsetting announcement.

Lido has launched its staked ETH on zkSync, an EVM-compatible L2 scaling solution for Ethereum. zkSync is the fifth L2 platform that Lido ETH stakers can bridge their staked ETH to. The bridging process to zkSync is simple and takes approximately 15 minutes. When bridging to zkSync, users need to use wstETH, the wrapped version of stETH. The bridge to zkSync is expected to bring liquidity opportunities to zkSync users and fuel the growth of staked ETH across the zkSync-based DeFi ecosystem.

The first wstETH reward opportunity is now available on zkSync, offering a chance to earn rewards in wstETH.

A reward campaign has been launched with Sparkdotfi. Additional rewards will be given to wstETH suppliers until February 13th. For more information, click here.

Lido TVL decreased by 7.05% to $20.31b due to a correction in token prices and an outflow of staked ETH. The stETH APR remained stable with a 7-day moving average of 3.84%. There was an outflow of staking deposits with a decrease of 69,824 ETH over the past week. The amount of stETH in lending pools and liquidity pools also decreased by 1.20% and 1.15% respectively. Additionally, the amount of wstETH bridged to L2 decreased slightly by 0.08%. However, the amount of wstETH bridged to Cosmos increased moderately by 2.40%.

Lido UIs were not affected by the vulnerability and have been checked and verified for a safe user experience.

Uniswap has launched a new round of incentives for wstETH on its mainnet, Optimism, and Arbitrum networks. LPs on Uniswap can earn a share of pool trading fees and additional token incentives. The incentives are live until January 1st.

Join Lido tomorrow at 3pm UTC to learn about their community staking module and how it enables permissionless node operator onboarding. The session will discuss the proposal and plans to extend the Lido validator set through independent NOs. Visit the provided link for more information.