Earn Passive Income With Caged Beasts And Lido
Lido (LDO) has been making the most of staking on Ethereum (ETH) as it deployed its v2 iteration this week, introducing staked ETH withdrawals as it seeks to expand its validator set. Lido, the top DeFi protocol by TVL, is Ethereum’s biggest staking entity and will form one part of this article’s assessment of how to accumulate passive income. We will also be having a look at the sort of schemes that Caged Beasts (BST), a new meme coin, will be offering as it looks to launch its presales.
What’s The Difference Between Liquid Staking And Normal Staking?
Earning profits from cryptocurrencies can be achieved through various methods, and one common approach is selling the investment at a higher price on the market. Another method gaining popularity is known as staking, which allows individuals to generate income using their digital assets without the need to sell them. Staking can be categorized into two types: liquid staking and regular staking, both of which have their unique features.
Liquid staking, similar to regular staking, involves investors depositing their crypto assets into smart contracts to facilitate proof-of-stake transactions and ensure their security. However, it’s important to note that staking comes with a significant drawback—assets become frozen during the staking period.
One of the most evident benefits of liquid staking is its quick liquidity. The extent of this advantage varies depending on the specific blockchain and liquid staking token in use. For instance, if a staker wishes to unstake their assets on the Polkadot blockchain, they must endure a 28-day “unbonding time.” In the event of an unexpected market shift, stakers might find it more advantageous to sell their liquid staking tokens rather than waiting for the unstaking process to complete.
Liquid staking also offers the flexibility to assemble various return schemes. These liquid staking tokens can be utilized as collateral on centralized or decentralized exchanges and lending pools. For example, stakers can lend out their liquid staking tokens and earn additional interest on top of the staking yield. This holds true for most yield techniques utilized in decentralized finance (DeFi). Furthermore, on centralized platforms, staked tokens can be utilized as collateral for loans, margin trading, and derivative trading, depending on the platform’s functionalities.
Lido Has Been Gaining Through Liquid Staking
Lido, the leading decentralised finance (DeFi) protocol based on total value locked (TVL) and the largest staking entity on the Ethereum network, announced the deployment of its v2 version on Monday. This update brings staked Ether (ETH) withdrawals and includes measures to expand the protocol’s validator set.
Lido has been a topic of controversy within the Ethereum community due to its significant influence in staking, as it currently holds 31% of all staked Ether, valued at over $11 billion, according to Dune Analytics. Although Lido initially aimed to disrupt a potentially centralized staking ecosystem dominated by exchanges, some analysts argue that Lido itself has become a centralized staking entity, contradicting its original intentions.
The latest upgrade introduces Lido’s Staking Router, which serves as a process for onboarding new node operators to the protocol. Lido’s previous version distributed users’ Ether among 29 node operators, attracting criticism from skeptics who questioned the protocol’s claimed decentralization. With the new Staking Router module, a diverse range of users, including solo stakers and professional entities, can now apply to operate nodes via Lido, thereby enhancing the decentralization of its validators.
Caged Beasts To Offer Passive Income During Presale
Another means to earn passive income in crypto in 2023 will be through the new meme coin Caged Beasts and its referral program during its upcoming presale.
Caged Beasts, a project that is still in its early development phase, is preparing for an exciting presale event. This stage offers an attractive chance for prospective supporters to invest. In a presale, tokens are usually available at reduced prices, accompanied by additional incentives to make the offer more appealing. While the BST token may currently be metaphorically confined, it possesses the capability to carve a niche in the market as it gains traction.
By taking advantage of its referral program, users will be able to earn passive income in crypto in 2023 through what many will be hoping will be an exciting presale for a new meme coin. Sign up now on the Caged Beasts website!
For more information on Caged Beasts, see below:
Website – cagedbeasts.com
Telegram – https://t.me/CAGEDBEASTS
Twitter – https://twitter.com/CAGED_BEASTS
Lido (LDO) has been making the most of staking on Ethereum (ETH) as it deployed its v2 iteration this week, introducing staked ETH withdrawals as it seeks to expand its validator set. Lido, the top DeFi protocol by TVL, is Ethereum’s biggest staking entity and will form one part of this article’s assessment of how to accumulate passive income. We will also be having a look at the sort of schemes that Caged Beasts (BST), a new meme coin, will be offering as it looks to launch its presales.
What’s The Difference Between Liquid Staking And Normal Staking?
Earning profits from cryptocurrencies can be achieved through various methods, and one common approach is selling the investment at a higher price on the market. Another method gaining popularity is known as staking, which allows individuals to generate income using their digital assets without the need to sell them. Staking can be categorized into two types: liquid staking and regular staking, both of which have their unique features.
Liquid staking, similar to regular staking, involves investors depositing their crypto assets into smart contracts to facilitate proof-of-stake transactions and ensure their security. However, it’s important to note that staking comes with a significant drawback—assets become frozen during the staking period.
One of the most evident benefits of liquid staking is its quick liquidity. The extent of this advantage varies depending on the specific blockchain and liquid staking token in use. For instance, if a staker wishes to unstake their assets on the Polkadot blockchain, they must endure a 28-day “unbonding time.” In the event of an unexpected market shift, stakers might find it more advantageous to sell their liquid staking tokens rather than waiting for the unstaking process to complete.
Liquid staking also offers the flexibility to assemble various return schemes. These liquid staking tokens can be utilized as collateral on centralized or decentralized exchanges and lending pools. For example, stakers can lend out their liquid staking tokens and earn additional interest on top of the staking yield. This holds true for most yield techniques utilized in decentralized finance (DeFi). Furthermore, on centralized platforms, staked tokens can be utilized as collateral for loans, margin trading, and derivative trading, depending on the platform’s functionalities.
Lido Has Been Gaining Through Liquid Staking
Lido, the leading decentralised finance (DeFi) protocol based on total value locked (TVL) and the largest staking entity on the Ethereum network, announced the deployment of its v2 version on Monday. This update brings staked Ether (ETH) withdrawals and includes measures to expand the protocol’s validator set.
Lido has been a topic of controversy within the Ethereum community due to its significant influence in staking, as it currently holds 31% of all staked Ether, valued at over $11 billion, according to Dune Analytics. Although Lido initially aimed to disrupt a potentially centralized staking ecosystem dominated by exchanges, some analysts argue that Lido itself has become a centralized staking entity, contradicting its original intentions.
The latest upgrade introduces Lido’s Staking Router, which serves as a process for onboarding new node operators to the protocol. Lido’s previous version distributed users’ Ether among 29 node operators, attracting criticism from skeptics who questioned the protocol’s claimed decentralization. With the new Staking Router module, a diverse range of users, including solo stakers and professional entities, can now apply to operate nodes via Lido, thereby enhancing the decentralization of its validators.
Caged Beasts To Offer Passive Income During Presale
Another means to earn passive income in crypto in 2023 will be through the new meme coin Caged Beasts and its referral program during its upcoming presale.
Caged Beasts, a project that is still in its early development phase, is preparing for an exciting presale event. This stage offers an attractive chance for prospective supporters to invest. In a presale, tokens are usually available at reduced prices, accompanied by additional incentives to make the offer more appealing. While the BST token may currently be metaphorically confined, it possesses the capability to carve a niche in the market as it gains traction.
By taking advantage of its referral program, users will be able to earn passive income in crypto in 2023 through what many will be hoping will be an exciting presale for a new meme coin. Sign up now on the Caged Beasts website!
For more information on Caged Beasts, see below:
Website – cagedbeasts.com
Telegram – https://t.me/CAGEDBEASTS
Twitter – https://twitter.com/CAGED_BEASTS
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