Lido Finance activates staking rate limit after more than 150,000 ETH staked

Mar 16, 2023 | wjb news

The liquid betting agreement Lido Finance was granted a visa over 150000 ETH in one day, triggering an agreement security configuration called "visa speed limit".

LIDO is a solution for betting on the liquidity of data assets, allowing users to bet on Ether without having to lock the OTP. When users deposit Ether, Lido sends them a combination of ETH called Steth (Steth), and the user is rewarded with Sight every day he or she has tokens in his wallet.

According to an article published in Trump's liquid betting agreement on Feb. 25, the "dynamic system" was launched after meeting the daily bet limit of 150000 ethers.

In a related guide, Lido explained that the purpose of the "valve" is to limit the total number of wooden medical ethers that can be forged during the large injection period and to deal with all hidden adverse effects, such as reward diluents.

"this means that so many Ether can only be submitted to Lido betting contracts within 24 hours," the company explained. "

The system works by filling production capacity at a rate of 6200 ETH an hour based on the total amount of savings that can be forged within the previous 24 hours.

"it works by reducing the total amount of Steth that can be forged at any time, based on recent savings, and then filling that volume one by one," Lido said. "

Lido stressed that the system of betting on annual interest rates would affect "all parties that are likely to try to recycle Steth, regardless of their approach."

Lookonchain, an investment analyst at Eagle Eyes On-Chain, shares a screenshot, and it is reported that 150100 ETH may come from one user, with three savings of 50 million each and one 100.

According to the Lido Finance website, as of Feb. 27, more than $8.9 billion of ETH had been bet on the agreement, much higher than the $5.8 billion released on Jan. 2.

The latest news from Lido is that it is reported that with the promotion of Shanghai, the total number of etheric bets is rising again. The etheric Shanghai renewal will take place in mid-to-late March, prompting speculation that the price of ethernet is likely to change.

As one of the five planned updates, EIP-4895 expects to open the ETH of bets and allow withdrawals, which will increase the liquidity of the login password market.

Since the launch of the Beacon franchise and the introduction of bets to ETH in December 2020, $25 billion of ETH has been bet.