Liquidity staking protocol Lido has added support for decentralized exchange aggregator 1”.
The addition of 1 inch facilitates swapping stETH (stake ether) and wstETH (wrapped stake ether) and ETH, Ethereum's native token, when unstaking. According to the official release, 1inch will speed up exits to Ethereum, Arbitrum, and Optimism.
“Skip the withdrawal queue with instant swap between stETH/wstETH and ETH using 1 inch” Lido Finance I have written “1inch is a DeFi aggregator optimized for Ethereum, BNB Chain, Optimism, Polygon, and other chains. 1inch guarantees the best rate on every trade by aggregating prices across hundreds of DEXes. Masu.”
Lido pools users' cryptocurrencies and provides liquid utility tokens on a 1:1 basis for staked assets. For example, staking 1 ETH will give the user 1 stETH. It is liquid and accepted by a variety of decentralized applications, including digital wallet MetaMask and automated market maker Curve (according to Lido's website). Since a user's stETH balance fluctuates depending on staking rewards, wstETH provides a stable version of her stETH. Lido also supports the Polygon blockchain, offering users a staking version of the network's native his token MATIC.
Lido continues to be the liquid staking protocol with the highest total value lock (TVL) in decentralized finance (DeFi). Lido's TVL rose to $29.5 billion as of February 21, according to data compiled by The Block Show.
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MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for this publication, covering all manner of crypto news, including NFTs, Metaverse, Web3 Gaming, Fundraising, Crime, Hacking, and Crypto Eco. There is a trend towards system stories. MK holds a graduate degree from New York University's Science, Health, and Environmental Reporting Program (SHERP) and also covers health topics on WebMD and his Insider. You can follow X @MManoylov and his MK on LinkedIn.
