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Authorities have arrested crypto fugitive Su Zhu.
If you donβt know who that is, heβs the founder of Three Arrows Capital. A hedge fund that lost $10 billion.
Yes, BILLION.
He got caught while attempting to flee Singapore π
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Lido's near-monopoly in Ethereum staking is making waves.
First, What is Lido?
Itβs a Liquid Staking Derivatives protocol.
It allows users to stake their $ETH without a minimum limit, compared to staking directly on Ethereum, which requires a 32 $ETH minimum stake.
When you stake your $ETH on Lido, you get stETH in return - which is a derivative of ETH.
You can use stETH to do other DeFi activities like borrowing, lending, or earning yields in a liquidity pool.
So DeFi users like Lido.
Since its 2020 launch, it's expanded to support ETH 2.0, Solana, and Polkadot.
Lido controls 38% of all Ethereum validators.
Vitalik Buterin himself has said anything over 18% is too much.
This imbalance could compromise the security and trustless nature of Ethereum's network.
To make matters worse, only 18% of all ETH is staked.
Compare this to 80% in Solana and 60% in Avalanche.
More staked ETH equals more security.
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If Lido were compromised, the consequences could be severe.
Vitalik and others have offered solutions to avoid Lidoβs dominance, including:
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Web3 startup focused on building digital experiences IYK raised $16.8M in a Seed funding round led by Andreessen Horowitz (a16z crypto), with participation from Collab+Currency, Lattice Fund, 1kx, PTC Crypto (Palm Tree Crew), Synergis Capital, Coop Records, Gmoney, Erick Snowfro, Justina Versano.
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Decentralized oracle platform Supra raised $24M funding round from Coinbase Ventures, Animoca Brands, Republic Capital (ex Republic Labs), Hashed, Sound Ventures, HTX Ventures (ex Huobi Ventures), Razer, FiveT Fintech (ex Avaloq Ventures), Hypersphere, Galaxy Interactive, MARBLEX Corp., Hashkey Capital, UOB Venture Management, Valor Equity Partners, Prosus Ventures, Sublime Ventures, Shima Capital, BCW Group, No Limit Holdings (NLH), Republic Crypto, Signum Capital, SMO Capital.
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Linea for Humans is a human-friendly block explorer where users can view a single transaction or an entire account with clear, English descriptions.
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With Kalder CLM (Community Loyalty Management) Tools, activate customers beyond point of sale. Brands can reward any engagement from content sharing, voting to store check-ins, and harness insights to increase loyalty and sales.
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SecurePADs, The World's First Zero Fees Security Prominent Assets Tokenisation Platform. It revolutionises the process of token launches by introducing a new standard in security, accessibility, and innovation.
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