Lido Finance Activates Staking Rate Limit After More Than 150,000 ETH Staked

Liquid staking protocol Lido Finance has pushed the big red button in order to activate a protocol safety feature called "Staking Rate Limit" after more than 150,000 Ether was staked with the protocol in a single day. Lido is a liquid staking solution for digital assets, in this case allowing users to stake Ether without needing to lock their tokens. When a user deposits Ether, Lido issues them a liquid variant of ETH, known as staked ETH (stETH), giving users staking rewards for each day the tokens are held in their wallets. According to the liquid staking protocol's Feb. 25 tweet, the "dynamic mechanism” was activated after the daily staking limit of 150,000 Ether was reached. (Cointelegraph)

Ethereum $4,636.06

-0.85%

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