Cryptocurrency exchange Coinbase announced it will add support for Liquid Staked ETH (LSETH) on the Ethereum network (ERC-20 token).
Inbound transfers for this asset are available on Coinbase.com and Coinbase Exchange in the regions where trading is supported.
Coinbase will add support for Liquid Staked ETH (LSETH) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost.
— Coinbase Assets (@CoinbaseAssets) March 6, 2023
Liquid Staked ETH is a derivative token that represents staked Ether on the Ethereum 2.0 network. It allows users to stake ETH and receive staking rewards, while also providing liquidity for their staked ETH. This enables users to earn rewards and participate in DeFi applications without sacrificing the benefits of staking.
Trading will begin on or after 7AM PT on 7 March 2023, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our LSETH-USD trading pair will launch in phases. Support for LSETH may be restricted in some supported jurisdictions.
The Ethereum network (ERC-20 token) contract address for Liquid Staked ETH (LSETH) is 0x8c1bed5b9a0928467c9b1341da1d7bd5e10b6549.
Coinbase will add support for LSETH with the Experimental label.
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