SharpLink, a digital assets company, plans to allocate $200 million of ETH through Lido’s liquid staking protocol, representing approximately 106,000 ETH, or 12% of its 888,938 ETH holdings. The wstETH tokens will be custodied with Anchorage Digital. This allocation adds to an existing strategy comprising native ETH, Liquid Collective’s LsETH, and Ether.fi’s weETH. Lido holds approximately $17.9 billion in total value locked and offers a 2.2% APY for its staking service. Despite generating $11.2 million in staking revenue in Q2, SharpLink recorded a $76.1 million impairment on its liquid staking and restaking tokens.
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