Lido’s bonded ethereum tokens have been under pressure due to an imbalance on Curve’s bonded ethereum (stETH) and ethereum pool.
. Users who are using stETH for leveraged staking need to be aware of potential de-pegging risks.”In the same Twitter thread, Lido described the firm’s plan to mitigate the issue on Curve’s platform. “[The plan is to] migrate liquidity from the existing Curve and Balancer pools to a new one to maximise rewards,” LidoSome people questioned the move to create a new pool on the largest defi protocol in terms of value locked.
“Is it a good idea? UST was attacked during liquidity migration,” one individualThe liquid staking application Lido also had significant exposure to the Terra blockchain and 49.66% in value has left the platform since last week according to defillama.com stats. Lido currently holds $9.13 billion in value but on May 5, it held $19.39 billion. $10.26 billion has been removed from Lido’s TVL since May 5 and $4,130 in LUNA remains.
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