Lido Announces Integration With Aave and Solarbeam

On February 28, Lido Finance, an Ethereum 2.0 liquid staking service provider announced to integrate with Aave and Solarbeam. Earlier today, Wu Blockchain tweeted about the Open Source DeFi protocol, Aave and decentralized exchange, Solarbeam’s integration. Lido, a POS staking platform, announced the integration of Aave and Solarbeam. Users can deposit stETH as collateral in Aave to earn interest, or add stKSM to the Solarbeam pool to earn rewards. — Wu Blockchain (@WuBlockchain) March 1, 2022 As stated in the tweet, the move was made to benefit users. Through this merger, users can deposit stETH as insurance in Aave to earn interest. stETH is a token depicting staked Ether in Lido. These tokens are minted upon deposits and burned while redeeming. Users can also add stKSM to the largest DeX on Moonriver’s Kusama-based para chain, Solarbeam. Through the Solarbeam pool, users can earn rewards. DeFi Saver tweeted, on Monday, that there are only a few stETH deposited to date and there haven’t been any borrowings as of now. On a secondary note, Lido took to Twitter to share that they have staked 2 Million ETH with Lido till now. The post Lido Announces Integration With Aave and Solarbeam appeared first on Cryptoknowmics-Crypto News and Media Platform.