Arslan ButtLido DAO is a decentralized and autonomous digital content platform. It was founded in 2017 by the co-founders of the popular social media app, Instagram. Lido DAO is a decentralized and autonomous digital content platform that was launched in 2017. The co-founders of Instagram, Kevin Systrom and Mike Krieger are the founders of Lido DAO. They announced their plan to create Lido DAO on December 20th, 2017 after Instagram was acquired by Facebook for $1 billion.
Lido DAO Price is Down 6%
The LDO/USD pair opened trading at $2.6630. On Monday, it lost 9.65% in the last 24 hours and is currently trading at $2.4730 with a high of $2.8220 and a low of $2.4730. It fluctuated between both the highest and lowest values in the past week before increasing by 9%.
Lido V2
On February 7, the Lido protocol published an official blog introducing the Lido V2, the next step towards decentralization. The community is praising the recently proposed update to the Lido protocol as the platform’s most revolutionary move.
$Lido $DAO's second most ambitious protocol upgrade, Lido V2 has been released. The new version focuses on decentralization and will support withdrawal of stETH following the #Ethereum Shanghai upgrade.$LDO price is up 8.5% to #trade at $2.53. pic.twitter.com/DsLZRYbVun
— ErmoFi (@ErmofiNews) February 8, 2023
The addition of the staking router is one of the update’s significant features. Developers will be able to build gateways for additional node operators, ranging from individual stakers to DAO clusters and Distributed Validator Technology (DVT), due to its new modular design, providing a more diverse ecosystem of validators.
Along with the presentation of $Lido V2, we are happy to give back to our community – in the form of $LDO reward claims.
Available only at https://t.co/xMSl2VfQHP!
Token payout is calculated by time & amount staked. Everyone who's previously staked is eligible. pic.twitter.com/2rpJcK5jED
— Lido (@LidoFinanceDAO) February 9, 2023
The second critical feature of the upgrade is the updating of withdrawals. Holders of stETH will be able to withdraw their funds in a 1:1 ratio using Ethereum’s new Lido protocol. These enhancements would greatly improve the platform’s usability and encourage wider adoption. Furthermore, the platform revealed the Lido V2 roadmap, which contributed to the price increase and LDO/USD pump.
The CEO of Coinbase has Tweeted about the SEC’s Staking Ban
Coinbase CEO Brian Armstrong stated in a series of tweets on February 9 that the US Securities and Exchange Commission (SEC) may outright ban crypto staking for retail investors. Armstrong stated that allowing it to happen would be a disaster for the United States.
Coinbase CEO Tweets Rumors Of Retail Staking Ban, Kraken Faces SEC Probe https://t.co/gS6z242qTP
Coinbase CEO Brian Armstrong tweeted his concerns about a rumored SEC ban on retail staking. Meanwhile, crypto-exchange Kraken is also under the regulator's scanner. pic.twitter.com/o4fW0AdPTa
— BlockChain (@VeteranOwned1) February 9, 2023
The US Securities and Exchange Commission has yet to respond to the rumors. It claimed, however, that most digital assets meet the criteria for securities and should be governed by its rules. The SEC’s chair, Gary Gensler, has previously stated that staking may fall under its jurisdiction.
According to Brian Armstrong, the SEC may be aiming for staking. As a result, decentralized tokens such as governance tokens for the liquid staking platform Lido, LDO, may be able to take over the staking operations of US-based exchanges. LDO is a liquid staking solution for Ethereum that allows users to stake their ETH while participating in on-chain events.
As a result, LDO/USD has risen on rumors that the US Securities and Exchange Commission may prohibit retail customers from staking.
Ethereum Shanghai Upgrade
The Shanghai Upgrade, the next scheduled Ethereum blockchain update, will take place in March 2023. The upgrade will make withdrawing Staked ETH easier.
The #Ethereum Shanghai Upgrade is coming up in March 2023 and it’s worth familiarising yourself with it.
Especially if you’re an $ETH HODLer.
Here’s all you need to know in 3 tweets.
— Binance (@binance) February 9, 2023
The update will allow staked Ether to be withdrawn from liquid staking protocols such as Lido, increasing interest in the Lido DAO. As a result, Lido DAO will benefit from the upcoming update because it is a large fish in the Ethereum network pool.
Wonder what will happen to $ETH after they chose the dark side of censoring with the switch to proof of stake… 60% of blocks are OFAC-compliant
In march we should see the Shanghai upgrade which would allow Ethereum holders to withdraw their staked $ETH pic.twitter.com/yy2Asn7Q7o
— Yoda Research (@YodaResearch) February 10, 2023
Furthermore, because it now owns a significant portion of the Ethereum network, the Lido DAO expects to reap additional benefits. Lido operations may also increase as a result of the upgrade. As a result, the Ethereum Shanghai upgrade benefits LDO/USD.
Alternative Coins: What To Know Before Investing In Pre-Sale
Choosing to invest in a cryptocurrency that is about to be launched can be very profitable, but you must be cautious.
Meta Masters Guild (MEMAG)
Meta Masters Guild (MEMAG) is on its path to becoming the largest mobile gaming guild in the Web3 ecosystem. The ultimate purpose of the project is to create fun and compelling games with playable NFTs that allow players to stake, trade, and get rewards.
The platform is presently the fastest-growing play-to-earn platform for 2023, and based on current trends, it will exceed Web3’s largest mobile gaming guild this year. The presale has raised over $3.9 million and is currently in stage 6.
In Stage 7 of the presale, the token will cost $0.023, up from $0.021. Stage 7 will start in only three days.
Fight Out (FGHT)
Fight Out (FGHT) is a cryptocurrency venture that intends to use cutting-edge technology to compensate users for a variety of activities. The user can create a profile on the FGHT app and receive workouts through video-customized classes tailored to their own fitness needs.
Pre-sale FGHT tokens are still available. Subscriptions are paid for using FGHT, which will eventually support its price. Fight Club is currently priced at $0.0208.
Following the end of the presale on March 31, the price will rise until it hits a maximum of $0.033 USDT. Furthermore, the Fight Out presale offers up to 50% benefits to early investors.
Related
- Lido Price Is Up 225% in September as Ethereum’s Top Decentralized Staking Protocol
- stETH is Back at Parity With ETH and Lido Yield Shifts up to 5.5%
- Lido DAO Price Has Come Off the Boil So is This A good Time to Buy Liquid Staking Platform Coin?
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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