Lido Finance Integrates With Chainlink Price Feeds

Published on: 21.12.2021

Lido is excited to announce that they are now sponsoring the first in a series of Chainlink Price Feeds to enable DeFi protocols across leading blockchains to quickly and securely support Lido staked assets. With the stETH/USD Price Feed live on Ethereum mainnet, DeFi projects can now reference this Chainlink oracle contract at any time to get the current price of stETH when executing key on-chain functions. In fact, the stETH/USD Chainlink Price Feed is already being collectively used and sponsored by a decentralized community of users, including Aave, Compound, and Enzyme.

Lido working with Chainlink is an expansion in the utility of stETH, as users can earn the normal staking rewards from Lido while also deploying stETH as collateral in DeFi. It also makes it very easy for new DeFi protocols to add support for stETH, given they have immediate access to a secure and reliable oracle solution.

Lido plans to expand its support of Chainlink Price Feeds in the future to aid in multiple platform initiatives, including decentralized price oracles for bLUNA, stSOL, and the assets of new blockchains that Lido plans to support such as Polkadot, Avalanche, and Matic.

ABOUT Lido Finance
Lido is an industry-leading liquid staking protocol that allows users to stake Ethereum (ETH), Solana (SOL) and Terra (LUNA) and receive staked liquidity tokens in return at a 1-to-1 ratio. Staked liquidity tokens allow holders to earn staking yield while also deploying their staked assets within a wide range of DeFi protocols such as money markets and yield farming programs. Lido is fully DAO-operated and transparent, and currently supports staking for ETH, LUNA, and SOL.

RESOURCES
Lido Blog

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