Search results for stETH
Crypto
Anchorage Digital adds support for Lido liquid staking protocol
Anchorage Digital, a federally chartered U.S. crypto bank, has added support for Ethereum liquid staking protocol Lido. The integration gives institutional clients direct access on Anchorage’s platform to Lido’s wrapped staked ether token, wstETH. Clients can connect to Lido’s decentralised application to mint and burn wstETH, and can use Anchorage custody and governance controls. Anchorage’s CEO said the move addresses operational and security hurdles for large investors.
Crypto
Aave joins DeFi partners to address $292 million KelpDAO hack
Aave has begun a joint recovery effort with major cryptocurrency firms under the slogan “DeFi United” to stabilise the DeFi lending market after a $292 million hack. The initiative focuses on covering the collateral shortfall for hacked rsETH. The incident stemmed from a vulnerability in KelpDAO’s LayerZero integration, enabling the minting of unbacked rsETH and borrowing of about $190 million in assets. Aave’s total value locked fell by $10 billion after the attack.
Crypto
Lido DAO proposes $20 million buyback to support LDO after 95 percent drop
Lido DAO has proposed buying back its governance token LDO by deploying up to 10,000 stETH, a plan reported by CoinDesk. The Lido ecosystem operating team said LDO is trading at a historically depressed valuation and suggested purchases worth about $20 million, based on an ether price of around $2,000. The key issue is how to execute the trades. The proposal allows routing via centralised exchanges and cooperation with market makers.
