Moonbeam and Lido Enter Into a Collaboration

Moonbeam has recently announced its integration and collaboration with Lido to launch liquid staking and provide DOT Holders with the power to stake assets and access the liquidity of the position at stake simultaneously. Deployed to Terra and Ethereum, Lido is known as the biggest protocol for liquid staking derivatives. The collaboration between Moonbeam and Lido is being powered by MixBytes, which the DAO of Lido chose to facilitate the technical aspect of the integration for the ecosystem of Polkadot. The integration will introduce liquid staking to Moonbeam and Moonriver and contribute to the development of the DeFi ecosystem at Moonbeam. Overall, token holders of the platform will be able to make the most productive use of their assets. 

Rooted in Ethereum staking, Lido is the biggest and most popular protocol for liquid staking globally. Through the collaboration with Moonbeam, Lido will be able to enter the market faster by employing the existing code and tools of Ethereum. Moonbeam will provide Lido with its cross-chain integration ecosystem and parachain infrastructure to enable smart contract execution compatible with Ethereum at Lido. In the opinion of Misha Putyatin, the CEO of MixBytes, Moonbeam meets the technical requirements of Lido with its robust DeFi ecosystem that includes borrowing and lending protocols, stableswap AMMs, EVM-compatible smart contracts, capabilities of cross-chain integration, and more. 

One of the most significant aspects of the integration between Moonbeam and Lido is the availability of DOT as a native asset. The holders of DOT do not have to choose between the opportunities of DeFi yield at Moonbeam and staking yield at the Relay Chain. It is expected that the derivatives of liquid staking will be able to increase the volume of asset flow into Moonbeam, thereby creating additional opportunities for growth in transaction and TVL for the DeFi protocols deployed at Moonbeam.

Source: https://www.cryptonewsz.com/moonbeam-and-lido-enter-into-a-collaboration/

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