Lido Bringing Staked Ether to Layer 2 Protocols (Lido DAO - LDO Token) - video Dailymotion

Lido Bringing Staked Ether to Layer 2 Protocols (Lido DAO - LDO Token)

Transcript

00:00hello welcome back to decentralized news in today's video we are looking at lidl or lidl

00:06depends on how you like to pronounce it which is bringing staked ether to layer 2s and the finance

00:13dow announced a repped version of uh staked eth that can soon be traded on a layer 2 ethereum

00:22protocols and this is uh obviously an announcement uh coming just days after um they announced that

00:30on september 19th uh that will be the target date for its uh beacon chain merge and for ethereum

00:38stakers this means staking with lower fees and access to a new suite of defy applications to

00:46amplify yields this is according to lidl and as uh ethers price also surges in anticipation of this

00:54long-awaited merge proof-of-stake validation staking protocol lidl finance leader finance is scaling

01:02staked ether to layer 2 ethereum protocols so to say that uh they're supporting the wrapped version of

01:10staked eth known as uh w staked eth rep staked eth on layer twos which is a move that the company

01:17believes that will allow staked eth to increase its market capitalization and its usage as well

01:25while reducing gas fees for investors so what does that actually mean they say that lower gas fees

01:32in an expanded defy ecosystem leader on l2 is not limited to a single network but will unfold

01:40via an ongoing roadmap of l2 scaling solutions the supported leader on l2 networks will be announced

01:48soon that was a direct announcement on their twitter and uh so later leader of staked eth investors

01:56receive staking rewards when uh they lock up either on the proof of stake beacon chain uh so its uh beacon

02:04chain merge has set in the works since um sort of um it's been 2020 they've been talking about this

02:11but obviously last week ethereum's uh developers said uh the 19th of september will be the target

02:17merge date even after the may the merge obviously staked it holders will also have to wait at least six to

02:2412 months to unlock tokens staked ether can also be exchanged on integrated d5 protocols such as curve

02:31but state it is now is now not obviously compatible with the layer twos that do not support

02:38rebaseable tokens that change value based on staking rewards so uh the wrapped state it gives the state

02:45it a fixed value allowing the red token to be traded on uh a prominent uh layer twos such as a uniswap uh

02:54arc x sub one inch sushi swap according to lido you can check out the reviews of all of these other

03:01platforms on uh decentralized news so they say that uh um if the theory plays out that it will become

03:07the settlement layer that is slower and more expensive for finality then most if not all

03:12transaction volume will eventually move to layer twos if that turns not to be true um they say if that

03:19turns out to be true then lido wants to make sure we are skating uh to where the puck is going a leader

03:26uh representative was saying and uh this uh rep state it move also comes uh a month after the curve

03:33liquidity pool for state eth nearly ran out of ether making it difficult for investors to exit positions

03:39so the liquidity crunch actually caused the price of state eat to lose its traditional parity with

03:44ether as well reaching as low as 0.93 eth uh one estate it is currently trading at uh around 0.98

03:52ether and according to coin market cap that can change in a second source um yeah it's possible

03:58that a state eat to eat exchange rates may slightly um shallower maybe slightly shallower and more volatile

04:05in specific markets in the short term according to lido adding that it expects its protocols to

04:10stabilize over time as layer twos draw greater investment so yeah also leaders dial token has

04:17been on the pump let me know uh what your thoughts are about this project and uh don't forget to check

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04:29and our discord server i'll see you in the next video peace