NewsNovo
will stake $200 million of its Ether holdings through Lido, a move that raises the question of whether active yield generation can offset the massive volatility embedded in its digital asset treasury model.
The company reported this plan on August 13, shortly after releasing a second-quarter report showing a net loss of $394.3 million.
Sharplink will receive wstETH tokens, which represent staked ETH plus accumulated rewards, and will hold them in custody with Anchorage Digital.
Lido manages roughly $16.5 billion in ETH, and its wstETH token serves as collateral in over $10 billion worth of positions across more than 100 decentralized finance applications.
Keep reading