SharpLink Stakes $200M in Ethereum via Lido's Liquid-Staking Protocol
SharpLink, a Miami-based digital asset treasury company, has announced it will stake $200 million of Ethereum through Lido's liquid-staking protocol. This move represents about 12% of SharpLink's total ETH holdings, which stand at around 889,000 as of early August.
The staked tokens will arrive as wrapped staked ETH (wstETH), a receipt token representing staked ETH plus its rewards. Anchorage Digital will hold the wstETH in custody. By using Lido's protocol, SharpLink can earn staking yield while maintaining liquidity and flexibility in its deployment strategy.
This decision reflects SharpLink's commitment to diversifying its treasury strategy and leveraging top Ethereum protocols. 'This is an exciting expansion in making our ETH even more productive, leveraging wstETH's composability while maintaining institutional-grade risk standards,' said Joseph Chalom, Chief Executive Officer of SharpLink.