- Moonbeam to partner with Lido on a staking project
- MixBytes will drive the project
- The project will offer a productive way of leveraging their DOT assets.
- Lido plans to expand to other protocols.
Blockchain-compatible smart contract platform Moonbeam has announced a collaboration with Lido, a liquid staking derivatives protocol live on Terra and Ethereum. MixBytes will drive this collaboration, a service specifically chosen by the Lido DAO for Polkadot ecosystem technical integration.
The integration seeks to make liquid staking available on Moonbeam and Moonriver, offering all DOT holders the ability to stake digital assets and access to stakes position liquidity. Lido deployment is an important building block for the Moonbeam DeFi ecosystem. It will offer crypto holders a productive way of leveraging their DOT assets.
Under the Lido DAO, Lido has grown to become one of the largest liquid staking protocols by user numbers. Founded on the Ethereum ecosystem, Lido has plans to expand its liquid staking service to Solana and Terra, among other protocols.