• Temporarily Unavailable

Lido Proposal to Expand to Proof-of-Stake Chain, Solana

By Ollie H - Cryptocurrency Broker - 30-04-2021

A popular ETH 2.0 and Terra staking service is currently branching out to look for opportunities to grow into more Proof-of-Stake (PoS) chains, first up on the list is Solana.

Chorus One, a well-known crypto infrastructure provider, proposed today on Lido's governance forums to make "a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana."

It’s reported that Solana (SOL) is a crypto coin to invest in that has plenty of potential to grow. It’s popular amongst new and experienced traders to invest in cryptocurrency token SOL because it is a fast, secure and censorship resistant blockchain providing technology for worldwide adoption.

Chorus One remains optimistic as they arrange to "capture 2.5% of the staked SOL supply". The plan is to use 1,000,000 tokens to start their full-year vesting plan for when they gain 25% in crypto staking rewards from SOL. Chorus One is currently the largest SOL stakeholder, with $600 million in cryptocurrency investments 2021.

Reportedly on Lido's website, the service currently has accounted for 256,964 Ethereum (ETH) staked (worth over $700 billion) across nearly 5000 emails, receiving 7.1% APY, and being the third-largest staking pool, per Nansen. It's reported that as soon as ETH 2.0 is released, APY rewards would skyrocket.

If you are looking to Buy and SellBitcoin (BTC) and other popular crypto; you can head over to BC Bitcoin where you can register for an account and start making your Bitcoin investments today.

We use cookies to better provide our services. By using our services, you agree toour use of cookies.