Agility of LSD Protocol Skyrockets by 100% to $450 Million TVL in 24 Hours
On April 18th, according to DeFi Llama data, the Agility of LSD protocol has increased by nearly 100% to $450 million in TVL over the past 24 hours. In addition
On April 18th, according to DeFi Llama data, the Agility of LSD protocol has increased by nearly 100% to $450 million in TVL over the past 24 hours. In addition, Nansen data shows that Agility stETH and frxETH pledge pools are one of the most popular contracts for Smartmoney depositors.
Data: LSD protocol Agility has grown nearly 100% in TVL over the past 24 hours to $450 million
Introduction
The Decentralized Finance (DeFi) space is evolving rapidly, and the Agility of LSD protocol has seen a massive surge over the past 24 hours. According to DeFi Llama data, the TVL (Total Value Locked) has increased by nearly 100% to $450 million. Moreover, the Agility stETH and frxETH pledge pools are gaining popularity among Smartmoney depositors, as shown by Nansen data.
What is the LSD Protocol?
The LSD protocol is a platform that offers liquidity and yield farming programs for various cryptocurrencies. It runs on the Ethereum network and leverages the benefits of Decentralized Finance. The LSD protocol’s key feature is its ability to provide liquidity to decentralized exchanges (DEXs) such as Uniswap and SushiSwap.
The Surge in Agility
The surge in Agility is primarily due to investors’ growing interest in the LSD protocol’s yield farming opportunities. The Yield farming program enables investors to lend their cryptocurrencies to liquidity pools in exchange for rewards. These rewards can be in the form of new tokens, interest, or platforms’ native tokens.
Agility stETH and frxETH Pledge Pools
Agility stETH and frxETH pledge pools have become popular among Smartmoney depositors. The stETH pool allows investors to gain exposure to Ethereum 2.0 by depositing Ethereum tokens in the pool. The stETH tokens represent staked Ethereum, and investors receive rewards for participating in Ethereum’s Proof-of-Stake consensus mechanism. On the other hand, the frxETH pool is a stablecoin yield farming pool that offers higher yields than traditional savings accounts.
The Benefits of Agility
Agility offers several benefits to investors, including:
1. Liquidity Provision
Agility enables investors to provide liquidity to decentralized exchanges (DEXs) and earn rewards in return. This allows investors to earn passive income without actively trading cryptocurrencies.
2. Decentralization
The LSD protocol runs on the Ethereum network, which is a decentralized platform. This means that there is no central authority controlling the platform, making it censorship-resistant and transparent.
3. Low Fees
The LSD protocol has lower fees compared to centralized exchanges, making it accessible and affordable for small-scale investors.
Conclusion
The surge in the Agility of LSD protocol shows the growing demand for DeFi yield farming opportunities. The protocol’s pledge pools, specifically the stETH and frxETH pools, have gained popularity among Smartmoney depositors due to their attractive rewards. Overall, Agility offers investors several benefits, including liquidity provision, decentralization, and low fees.
FAQs
1. What is the LSD protocol?
The LSD protocol is a DeFi platform that offers liquidity and yield farming programs for various cryptocurrencies.
2. What are pledge pools?
Pledge pools are yield farming programs that enable investors to lend their cryptocurrencies to liquidity pools in exchange for rewards.
3. What are the benefits of Agility?
Agility offers several benefits to investors, including liquidity provision, decentralization, and low fees.
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