Sharplink Expands ETH Treasury Strategy, Putting $200 Million ETH Into Lido Staking

In comparison, Ethereum treasury company Sharplink (Nasdaq: SBET) announced that it will stake $200 million worth of ETH through Lido, Ethereum's largest liquidity staking protocol, to increase the company's ability to yield ETH assets.

Sharplink said that after this pledge, the company will receive an encapsulated pledge of ETH (wstETH) representing the staked ETH and its proceeds, and Anchorage Digital, an institutional-level digital asset custodian, will be responsible for hosting. This configuration will further expand Sharplink's existing ETH staking and restaking strategy.

Lido is currently one of Ethereum's largest liquidity staking protocols, with the platform staking ETH worth around $16.5 billion. Its wstETH token has been integrated by over 100 protocols and currently has around $100 billion as DeFi collateral assets. While users hold WSTEth, the underlying ETH still continues to receive staking benefits and can continue to be used in the Ethereum DeFi ecosystem.

Sharplink CEO Joseph Chalom said the introduction of Lido will further improve the company's ETH asset production efficiency, utilize the composability of WSTEth, and maintain institutional-level risk management standards. The partnership will enhance the diversification of the company's treasury strategy and access one of the most liquid and widely used assets in the Ethereum DeFi ecosystem.

Vasiliy Shapovalov, executive director of the Lido Labs Foundation, said that Sharplink's increased use of the Ethereum native staking protocol and DeFi ecosystem reflects support for the Ethereum application ecosystem.

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