The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Binance To List Andreessen Horowitz-Backed DeFi Altcoin Built On Ethereum Amid Crypto Market Collapse

by Daily Hodl Staff
May 9, 2022
in Altcoins, Ethereum, Trading

The world’s largest crypto exchange is adding a decentralized staking platform to its roster of assets.

In a new announcement, Binance says it’s listing Lido DAO (LDO), the governance token of Lido Finance which offers staking solutions across several popular blockchains.

Lido’s decentralized autonomous organization (DAO) grants holders of the Ethereum (ETH) token voting rights on project parameters, upgrades and staking protocols.

The Silicon Valley-based investment firm Andreessen Horowitz (a16z), which in January announced its intentions to invest billions of dollars into the digital asset space, also revealed in March that it was backing Lido.

The a16z post says that Lido democratizes the proof-of-stake (PoS) process by both making minimum deposit amounts attainable to everyday crypto investors as well as offering an alternative to relying on centralized exchanges.

“That’s why we’re excited to invest in Lido, an effective, decentralized staking platform. It offers one of the easiest ways to stake ETH and other PoS assets today, while striving for decentralization through the DAO’s governance.

Lido [also] solves the competitive incentives between staking and seeking yield in DeFi [decentralized finance]. By issuing an Ethereum-native liquid token, Lido allows you to use staked ETH as collateral within DeFi in the same way you can use ETH currently.”

Lido users can stake tokens on a variety of leading networks, including Terra (LUNA), Solana (SOL), Polygon (MATIC) and Kusama (KSM).

Lido DAO has been on a roller coaster ride of price action over the past day, at first rising 50% from $2.25 to $3.40 on the Binance news before tumbling vertically back down to its original valuation as the overall crypto markets flashed red.

LDO then worked its way back up to $2.53, but currently is down nearly 5% on the day, trading for $2.26.

Binance says LDO will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/WIROJE PATHI/Natalia Siiatovskaia

Submit a Press Release

Industry Announcements

  • Mooky.io – $750,000 Raised Within a Matter of Days
    June 5, 2023
  • DPAT Raises Private Funding To Enhance Web 3.0 Ecosystem
    June 2, 2023
  • Pink Moon Studios Reveals ‘KMON: World of Kogaea’ Pioneering a New Era in Web 3.0 Open-World Gaming
    June 2, 2023
  • OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking
    June 2, 2023
  • Devour and AlterVerse Partner To Bring the World’s First Web 3.0 Food Ordering Marketplace to the Metaverse
    June 1, 2023
  • Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing
    May 31, 2023
  • MetaZone Secures Funding To Expand the World’s First Tokenized App Platform for the Metaverse
    May 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$25,813.92
$25,813.92
3.84%
Ethereum
$1,818.32
$1,818.32
2.82%
Cardano
$0.352319
$0.352319
6.21%
XRP
$0.512205
$0.512205
4.42%
Dogecoin
$0.066862
$0.066862
6.89%

Spotlight

  • Bitcoin (BTC) About To Flash Signal That ‘Historically’ Marks Beginning of Fresh Bull Runs: Analyst PlanB
    May 29, 2023
  • Bitcoin Firebrand Michael Saylor Says Banking Establishment Will Oppose CBDCs, Predicts Stablecoin Wind Down
    May 29, 2023
  • Solana (SOL) Could See Massive Upside in the Future, According to VanEck Digital Assets Research
    May 29, 2023
  • Trader Who Caught 2023 Crypto Rally Unveils Strong Signal for Bitcoin (BTC) ‘Moon Time’ – Here Are His Targets
    May 29, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl