Blockchain fund KR1 invests in Ethereum 2.0 staking solution Lido

Spread the love

KR1, a blockchain and crypto-asset investment company, today announced that it has invested a total of USD $150,000 in the Lido project in return for 15,000,000 Lido (LDO) tokens.

Lido is a liquid Ethereum 2.0 staking solution backed by several industry-leading staking providers. The system allows users to earn Ethereum (ETH) staking rewards with no lock-ups or minimum deposits, whilst also contributing to the security of the recently launched Ethereum 2.0 blockchain.

Through the issuance of a proxy token, termed staked ETH (stETH), Lido creates a liquid alternative for staked ETH, allowing tokens otherwise locked up to be transferred, traded, and used across other Ethereum DeFi applications. As such, Lido’s stETH token could become an important base primitive in DeFi, and a foundational building block for the Ethereum ‘money-lego’ stack.

“We were very pleased to see the recent launch of the first phase of Ethereum 2.0’s roadmap and the ensuing enthusiasm from the community for staking ETH. With such a large and diverse community of ETH holders, there is huge demand for innovative staking products and Lido has created a very compelling offering. Their focus on simplicity, great user experience and flexibility will garner huge interest and we’re excited to be involved at such an early stage.”
– George McDonaugh, Managing Director and Co-Founder of KR1

 402 Interactions,  4 today

Bitcoin Price Movement Analysis for 11th April, 2021

Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more

Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

Bitcoin, BTT, Dogecoin Price Movement Analysis for 7th April, 2021

Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

RECOMMENDED READ:  Ethereum Classic, Monero, VeChain Price Movement Analysis for 20th February 2021
Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Ethereum Price Movement Analysis for 4th April, 2021

Ethereum, the second-largest cryptocurrency, has entered a volatile zone, which could drive the digital asset's price even higher. In the Read more

Bitcoin fell by more than 4%, causing many other cryptocurrencies to plummet drastically.

The world's most expensive cryptocurrency fell 4.1 percent, bringing several other coins down with it, sending the economy into the Read more

Leave a Reply

Contact Us