Lido’s new collaborations fail to make LDO see green – Why?
AMBCrypto
17 Sep 2023 3:30 PM
Lido governance proposes a risk mitigation strategy amidst new collaborations while Lido maintains a strong position in TVL and performance metrics within the DeFi sector....
- Axelar Network has collaborated with Lido to bring stETH to the Cosmos ecosystem.
- The collaboration involves bridging stETH and wstETH from Ethereum to Neutron in the Cosmos network.
- Lido DAO will assume control of the bridge's ownership and administration once wstETH is deployed on Cosmos.
- Lido governance has introduced a proposal to mitigate risks, including increasing the slashing provision by 5x.
- Lido's performance metrics show a marginal decrease in Total Value Locked (TVL) and a minor decrease in the total volume of (w)stETH deposited into DeFi pools.
- LDO's price has slightly decreased, and the trading volume has declined.
The article provides a mix of positive and negative information. The collaboration between Axelar Network and Lido to bring stETH to the Cosmos ecosystem is seen as potentially expanding stETH's utility and accessibility. However, Lido's performance metrics show some slowdown, with a marginal decrease in TVL and a minor decrease in the total volume of (w)stETH deposited into DeFi pools. LDO's price has also slightly decreased.