Lido Integrates with 1inch to Enable Instant Swaps
Lido, the liquidity staking protocol, has partnered with decentralized exchange aggregator 1inch to facilitate seamless swapping between stETH, wstETH, and ETH. With the addition of 1inch, users can avoid withdrawal queues and enjoy faster exits onto Ethereum, Arbitrum, and Optimism. Lido Finance announced the integration on social media, highlighting 1inch’s optimization for various chains and its ability to provide the best rates by aggregating prices across multiple DEXs.
How Lido Works
Lido pools users’ cryptocurrency and provides a one-to-one liquid utility token for their staked assets. For example, staking one ETH gives the user 1 stETH, which is accepted on popular decentralized applications like MetaMask and Curve. Additionally, Lido offers wstETH as a stable version of stETH, ensuring a steady balance despite staking rewards fluctuations. Lido is also compatible with the Polygon blockchain, allowing users to stake MATIC tokens.
Lido Leads in Total Value Locked (TVL)
Lido remains the leading liquid staking protocol in decentralized finance (DeFi) with a total value locked (TVL) of $29.5 billion as of February 21st. Its TVL surpasses other competitors in the space, making it a trusted choice for users seeking liquidity while earning staking rewards.
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