Crypto
SharpLink Allocates $200M to Lido's Liquid Staking Ecosystem
SharpLink has announced it will stake approximately $200 million worth of Ethereum (ETH) through Lido's liquid staking ecosystem. The company, which has an Ethereum-focused treasury strategy, plans to receive wrapped staked ETH (wstETH) in exchange for the allocation. Anchorage Digital will custody the wstETH.
The transaction adds Lido to SharpLink's existing staking and restaking activities. By using liquid staking, SharpLink can gain exposure to Ethereum staking rewards while retaining the ability to use wstETH across decentralized finance (DeFi) applications.