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Validators earned a total income of $46 million in the first week of May as a result of the increase in the staking rewards rate, which is a metric for the annualized yield of validators. According to data, validators earned 24,997 Ether (ETH) in the week, representing a 40% increase
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According to Coinbase’s customer support, “Our systems currently do not support deposits to Coinbase ETH addresses from external validators… Funds may be stuck until we are able to support these transactions.” Source
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The divergence comes amid a meme coin frenzy that has pushed up fees on the Ethereum blockchain. Source
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.April saw several hacks, exploits and rug pulls that resulted in a net loss of over $100 million among several DeFi protocols. Amid
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Lido has not yet activated withdrawals, pending the release of its version (v)2 protocol upgrade expected later in May. Given the nature of liquid staking, users who want to withdraw from the platform can just sell their stETH derivative token on exchanges. As the token’s price tracks closely to ETH’s,
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Decentralized exchange (DEX) Chronos set a new milestone on May 4, reaching $217 million in total value locked (TVL) at the time of writing, just seven days after its launch on the Arbitrum blockchain. With the new TVL figures, Chronos ranks eighth among the largest decentralized exchanges, according to DefiLlama. In DeFi,
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In episode 18 of Cryptox’s Hashing It Out podcast, Elisha Owusu Akyaw sits down with Matt Leisinger, chief product officer at Alluvial — a software development company supporting the implementation of the Liquid Collective protocol — to explore the world of crypto staking and its potential to attract institutional investors.
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A new Cosmos-based blockchain called “Tenet'' will use liquid staking coins from other networks to secure its transactions, potentially allowing the new network to inherit the security of older ones, according to a May 3 announcement from the developers. The network is currently available as a testnet and will launch a
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David Lesperance, managing director and tax adviser at Lesperance Associates, called the HMRC’s proposal an “excellent result,” in a statement. Meanwhile, lawmaker Lisa Cameron, chair of a cross-party group for crypto in Parliament, said she was hopeful this would be the first step towards a comprehensive tax framework. Source
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The Ethereum network underwent the successful Shapella hard fork on April 12, allowing validators to withdraw their long-staked Ether (ETH) from the Beacon Chain after three years. In the first week of withdrawals, more than a million ETH was unstaked by validators.However, from the second week onward, the number of
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