Lido Finance Kicks Off Yield Farming Event on Ethereum Scaler Optimism
A new 1 million OP token grant means Lido Finance users looking to earn some extra yield can do so by porting over to Optimism.
Lido Finance and Optimism are rolling out a new incentive program to get liquid stakers migrated over to the layer-2 network.
As part of the LidoOnLayer2 initiative, which seeks to improve liquidity for Lido’s staked Ethereum (stETH) product across all layer-2 solutions, the project has been granted 1 million OP tokens from Optimism.
These tokens will provide an added OP reward for users who stake their Ethereum with Lido, move that staked Ethereum to Optimism, and provide liquidity for select token pairs. The program kicks off today and ends in six months.
OP is the governance token for Optimism, a layer-2 scaling solution that uses rollups to help scale the Ethereum network by moving activity off of the mainnet, batching it, and then executing this compressed data on the mainnet.
Lido Finance is the market’s largest liquid staking platform, letting users deposit a variety of proof-of-stake (PoS) tokens and earn rewards for doing so. Instead of needing 32 ETH, a whopping $49,000 today, to begin staking on Ethereum, users can instead deposit any amount into Lido and begin earning. The service is also available for Polygon, Solana, Polkadot, and Kusama.
Read More: <a rel="noreferrer nofollow noopener" href="https://decrypt.co/121365/lido-finance-kicks-off-yield-farming-event-on-ethereum-scaler-optimism" target="_blank">https://decrypt.co/121365/lido-finance-kicks-off-yield-farming-event-on-ethereum-scaler-optimism</a>