Lido Institutional: Q3 2024 Review

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Lido Institutional represents a dedicated group of contributors focused on advocating for the use of Lido’s open-source, liquid staking middleware by non-retail users. Lido's middleware provides a way to participate in the blockchain network validation process and get staking rewards for this activity. With a mission to democratize staking, Lido’s middleware lets users connect with node operators and stake their digital assets without the need to individually maintain hardware.

 

Q3 2024 has seen institutions announcing the independent integration of stETH, thus enabling their users’ access to Lido’s liquid staking middleware. 

 

These include exchanges and custodians such as: 

  • Deribit, a cryptocurrency exchange that has enabled the launch of trading and use of stETH on their platform. 
  • Wintermute, an algorithmic trading firm offers stETH OTC and accepts stETH as collateral on their platform.
  • Fireblocks, a platform delivering an infrastructure for moving, storing, and issuing digital assets that has enabled its users to stake their ETH through Lido’s liquid staking middleware for Ethereum. Fireblocks has launched this independent integration to provide in-platform access to Lido’s liquid staking protocol and stETH token. Their users can now stake their ETH, get network staking rewards, and use stETH for on-chain activities, including Fireblocks Off Exchange, which allows Fireblocks users to lock their stETH in a self-custodial wallet to trade on exchanges like Deribit and Bybit.

 

Q4 2024

As we enter Q4 2024, Lido Institutional’s dedicated group of contributors is dedicated to advocating for the continuous use of Lido’s open-source, liquid staking middleware by non-retail users. 

 

To learn more, visit the Lido Institutional website: 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.