Bringing Liquid Staking to the Fireblocks Network
Lido Institutional is thrilled to share that Fireblocks has integrated Lido, enabling their users to stake their ETH with Lido’s liquid staking middleware for Ethereum.
In response to growing institutional demand, Fireblocks has launched this integration to provide in-platform access to Lido’s liquid staking protocol and stETH token. Users can now stake their ETH, receive rewards, and use stETH for on-chain activities, including Fireblocks Off Exchange, which allows Fireblocks users to lock their stETH in a self-custodial collateral wallet to trade on exchanges like Deribit and Bybit.
Liquid staking enables users to transfer and operationalize staked tokens without the firm requirements that lock up assets for stakers on the Ethereum network. It allows users to deposit tokens and receive tradable liquid tokens (stETH) in return, thereby unlocking the ability to receive staking rewards while maintaining liquidity and access to their assets.
Liquid staking with Lido may be useful for institutional ETH holders and can provide the ability to stake without the requirement of maintaining complex staking infrastructure. While Ethereum direct-stakers must stake in increments of 32 ETH, liquid staking allows users to stake any amount of ETH, with the ability to access instant liquidity.
This flexibility also has the potential to benefit retail-facing exchanges and fintechs, whose end users might have less than 32 ETH but want to reap the rewards of ETH staking. Those with at least 32 ETH can unlock capital efficiency through liquid staking, leveraging their staked ETH tokens (stETH) for on-chain activities.
With the Lido integration, Fireblocks customers can stake their ETH without locking it up or having to maintain complex infrastructure – all while still participating in on-chain activities and receiving network rewards from their staked ETH.
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology. For further information, please visit www.fireblocks.com.
About Lido Institutional
Lido is an open-source, liquid-staking middleware that provides a way to participate in the blockchain network validation process and reap rewards for this activity. With a mission to democratize staking, Lido middleware lets users connect with node operators and stake their digital assets without the need to individually maintain hardware. Lido users can interact with various third-party DeFi applications that have independently integrated and support the liquid staking tokens. For further information, please visit lido.fi/institutional.
Disclaimer: All information provided herein is purely for informational purposes and does not constitute an offer, recommendation or solicitation to participate in any activity involving crypto assets. References within this website to any specific commercial product, process, or service, or the use of any trade, firm or corporation name is for the information and convenience of the public, and does not constitute endorsement, recommendation, or favoring in any form or shape. Any decision to participate should be based solely on your own due diligence and should be made only after consulting with your own legal, financial, and tax advisors.