Lido Drops Polkadot and Kusama Pledge Information Display

04/09/2023 02:06 • Digital Disruptors • 88 views

On April 9th, it was reported that Lido’s official website no longer provides Polkadot and Kusama pledge information display. Currently, only Ethereum (ETH), Polygon, and Solana pledge information is available. Data shows that as of now, the total pledged amount of Lido Ethereum has exceeded 11 billion US dollars (5928918 ETH), setting a new historical high.

Lido official website no longer displays Polkadot and Kusama pledge information

Lido has officially announced that it will no longer provide information display for Polkadot and Kusama pledge on its website, with users now only able to access Ethereum, Polygon, and Solana pledge information. As Lido gains even more popularity in the DeFi space, it’s important to understand the reasons behind the move and what it could mean for the future of Lido.

What is Lido?

Lido is a liquid staking protocol that provides users with exposure to staked assets from validators, in addition to yield-generating opportunities. This means users can convert their staked assets into liquid assets for easy use in other DeFi applications. The platform has gained a lot of popularity due to its ease of use and high yields, with users engaging heavily with the staking and lending opportunities available.

Why Did Lido Stop Showing Polkadot and Kusama Pledge Information?

Lido’s decision to remove Polkadot and Kusama pledge information from its website is believed to be due to the availability of alternative sources. According to Lido, users can access Polkadot and Kusama pledge information through the staking services of both cryptocurrencies instead of on the Lido platform. Furthermore, it’s believed that Lido is considering the integration of other staking services, which could potentially replace the two cryptocurrencies in question.

Lido Ethereum Sets Historical High

Despite the news of Lido dropping Polkadot and Kusama pledge information display, Lido Ethereum has set a new historical high, with total pledged amounts exceeding 11 billion US dollars (5928918 ETH). This surge in deposited assets is in part due to the attractive yield-generating opportunities that the platform offers to investors. The liquidity and accessibility of the platform have also played a key role in its success in the DeFi space.

The Future of Lido

Lido’s decision to remove the display of two cryptocurrencies on its platform may seem insignificant, but it’s evident that the move is part of a larger strategy that could overhaul the platform even further. As Lido gains momentum in the DeFi space, it’s expected that the platform will continue to make key decisions that will significantly impact the space.

Conclusion

Lido’s decision to remove Polkadot and Kusama pledge information display may have ruffled a few feathers, but the move is all part of the platform’s larger strategy to streamline its operations and integrate new features. Ultimately, the popularity of Lido Ethereum suggests that the platform is here to stay, and its impact on the DeFi space will only continue to grow.

FAQs:

1. What is Lido?
Lido is a liquid staking protocol that provides users with exposure to staked assets from validators in addition to yield-generating opportunities.
2. Why did Lido stop showing Polkadot and Kusama pledge information?
Lido stopped showing Polkadot and Kusama pledge information because users can access it through the staking services of both cryptocurrencies, rather than on the Lido platform, and Lido is considering integrating other staking services.
3. What is the total pledged amount of Lido Ethereum?
As of now, the total pledged amount of Lido Ethereum has exceeded 11 billion US dollars (5928918 ETH), setting a new historical high.
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