Ethereum news (ETH): Lido launches stablecoin yield product to expand beyond ether
Lido has launched EarnUSD, a new yield product for stablecoin holders, expanding its offerings beyond ether-based assets.Summary
Lido, the leading liquid staking protocol on Ethereum, is expanding its services beyond ether (ETH) by introducing a revamped yield product called Lido Earn, which now features two vaults: EarnETH for ether assets and EarnUSD for stablecoins. The new EarnUSD vault is Lido's first product specifically for dollar-pegged tokens like USDC and USDT, automatically allocating deposits across various DeFi yield-generating strategies on Ethereum, such as lending markets. This move addresses the significant role stablecoins play in Ethereum's DeFi ecosystem, where they account for roughly half of the activity. According to Marin Tvrdić of the Lido Ecosystem Foundation, this expansion allows Lido to finally serve stablecoin users by simplifying the process of earning crypto returns without requiring users to manage complex strategies themselves.
(Source：CoinDesk)