Wednesday, November 20, 2024
Home > ICO > Ethereum Staking Provider Lido to Incorporate NFTs Into Unstaking Process

Ethereum Staking Provider Lido to Incorporate NFTs Into Unstaking Process

Ether withdrawals on Lido, where users can unstake their stETH and receive ETH at a 1:1 ratio, will have two steps: request and claim, according to Mariya Muzyko, product manager at Lido, during the call Tuesday afternoon. Once a user requests a withdrawal, they will receive a Lido-issued NFT representing their withdrawal request. The user can then use the NFT to claim their ETH rewards. The NFT is burned after the user redeems and claims their ETH.

Original Source