Cryptocurrencies
Billions Are Being Wagered on Breakthrough Ethereum Revamping
- Over $10 billion in Ether staked to Lido Finance application
- Stakers can maximize rewards after leveraging holdings
A screenshot of the Lido Finance website.
Source: Lido Finance
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One of the biggest bets in all of crypto is being wagered on the autonomously-run DeFi platform Lido Finance.
Nearly $10 billion, or around 3.22 million Ether tokens, has been deposited on the decentralized finance protocol in anticipation of a successful completion of a long-awaited upgrade of Ethereum. The years-in-the-making software revision -- referred to as the Merge, targeted for later this year -- is supposed to dramatically cut energy use, eventually boost performance and possibly returns on what is arguably the most important blockchain network.