Decentralized finance protocol Lido has unveiled a brand new staking product geared toward institutional traders.
On Aug. 2, Lido (LDO), introduced the introduction of Lido Institutional, a liquid staking resolution particularly designed to cater to the wants of custodians, asset managers, exchanges, and different institutional entities.
“The introduction of Lido Institutional underscores Lido’s ongoing dedication to supply an distinctive staking resolution tailor-made to the excessive requirements of custodians, asset managers, exchanges, and extra,” Lido stated in a put up on X.
Safety and deep liquidity
Lido, the platform behind Ethereum (ETH)’s main liquid staking token Lido staked Ether (stETH), appears to increase its dominance with the brand new resolution. The aim is to supply institutional traders with entry to Lido’s sturdy safety, deep liquidity, and staking rewards.
Lido Institutional gives diversified counterparty publicity, enabling members to earn staking rewards by way of a diversified set of greater than 100 node operators.
Learn extra: Vitalik Buterin unveils main overhaul of Ethereum staking to boost decentralization
A number of liquid staking and restaking protocols, together with Ether.fi and Renzo, have emerged since Ethereum’s transition from a proof-of-work to proof-of-stake blockchain to problem Lido. Nonetheless, Lido continues to dominate because the ecosystem’s largest staking protocol in DeFi.
In line with knowledge from DeFiLlama, crypto deposits on Lido at the moment stand at over $31 billion. The entire worth locked on the protocol nonetheless peaked at over $39 billion in March.
This got here as Ethereum value rose to above $4k for the primary time since its run to the all-time excessive above $4.8k in Nov. 2021. Most altcoins additionally surged as crypto skilled a notable improve in institutional visibility.
stETH dominance
In the meantime, Lido’s stETH is the most important and extensively adopted collateral token in decentralized finance at over $10 billion up to now.
Custody options that supply native stETH integrations embody Fireblocks and Taurus, whereas conventional buying and selling and asset administration platforms that present entry embody Matrixport and Swissborg.
You may additionally like: Taurus, Lido accomplice to permit stETH consumer entry
