Ethereum Pledging through Lido Platform Reaches 6 million ETHs Worth Over $12.5 Billion
According to reports, according to official data from Lido, the amount of Ethereum pledged through the platform has exceeded 6 million ETHs, reaching 6023685 ETH, with a value of a
According to reports, according to official data from Lido, the amount of Ethereum pledged through the platform has exceeded 6 million ETHs, reaching 6023685 ETH, with a value of approximately $12560701428. The current APR is 4.3%, and the paid rewards have reached 284367 ETH, approximately $592967567. Historical data shows that Lido Ethereum’s pledge quantity exceeded 4 million ETHs in September 2022 and 5 million ETHs in January 2023, indicating that the pledge quantity has increased by over 20% in less than three months.
Lido Ethereum has pledged over 6 million ETHs, worth over $12.56 billion
Introduction
Lido is a decentralized platform that allows users to stake their cryptocurrency assets and earn rewards. According to the official data released by Lido, the amount of Ethereum pledged through the platform has exceeded 6 million ETHs, with a value of approximately $12.5 billion. This article will explore the historical data and the current state of Ethereum pledging through Lido, including the APR and paid rewards.
Historical Data of Lido Ethereum Pledging
Historical data shows that Lido Ethereum’s pledge quantity exceeded 4 million ETHs in September 2022 and 5 million ETHs in January 2023. These figures indicate that the pledge quantity has increased by over 20% in less than three months, reaching 6023685 ETHs.
The Current APR and Paid Rewards
The current APR for Ethereum pledging through Lido is 4.3%. This means that users can earn rewards on their pledged Ethereum assets at a rate of 4.3% annually. In terms of paid rewards, Lido Ethereum has already paid out 284367 ETHs worth about $592.9 million.
How Lido Ethereum Pledging Works
Lido Ethereum pledging works by allowing users to convert their Ethereum into ETH2, which is a version of Ethereum that has been optimized for staking. Once the conversion is complete, users then deposit their ETH2 into the Lido platform and earn rewards based on the amount they staked. The rewards earned are paid out in the form of ETH, which can be withdrawn at any time.
Benefits of Pledging Ethereum through Lido
Pledging Ethereum through Lido offers several benefits to the users. Firstly, it allows users to earn rewards on their cryptocurrency assets without having to worry about the technical complexities of staking. Lido handles all the technical aspects, making it easier for users to participate. Secondly, pledging through Lido is more secure than other traditional methods, as the platform uses a multi-signature threshold scheme to distribute key custody.
Risks Associated with Lido Ethereum Pledging
Although pledging Ethereum through Lido offers numerous benefits, there are also risks associated with it. A significant risk is the possibility of losing the staked Ethereum due to smart contract failures or hacks. Additionally, Lido is a relatively new platform, which means that there is a risk that it may experience unforeseen technical issues that could affect the pledged Ethereum.
Conclusion
In conclusion, Ethereum pledging through Lido has become increasingly popular, with over 6 million ETHs pledged on the platform. The current APR and paid rewards are attractive to users looking to earn rewards on their cryptocurrency assets. However, it is important to weigh the benefits against the risks before deciding to pledge Ethereum through Lido.
FAQs
1. What is the difference between Ethereum and ETH2?
– Ethereum is the original version of the cryptocurrency, while ETH2 is a newer version optimized for staking.
2. What is the minimum amount of Ethereum required to pledge through Lido?
– The minimum amount of Ethereum required to pledge through Lido is 0.01 ETH.
3. Can I withdraw my pledged Ethereum at any time?
– Yes, users can withdraw their pledged Ethereum at any time.
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