SharpLink stakes $200M ETH via Lido, expands DeFi yield
6.7 Investments SharpLink is staking $200M in ETH via Lido, receiving wstETH held by Anchorage Digital. The move expands its staking strategy, boosts yield, and increases DeFi access amid a tough quarter.
SharpLink is staking $200 million worth of ETH through Lido, Ethereum’s leading liquid staking protocol. This allocation, representing about 106,000 ETH or roughly 12% of SharpLink’s total ETH holdings as of early August, will be converted into wrapped staked ETH (wstETH). The wstETH token reflects both the staked ETH and its ongoing rewards, with Anchorage Digital providing custody for the assets. This move expands SharpLink’s existing staking and restaking strategy, aiming to boost yield, maintain liquidity, and unlock additional decentralized finance (DeFi) opportunities. Lido’s wstETH is widely integrated across DeFi protocols, with billions in value used as collateral, offering SharpLink flexibility and enhanced onchain yield. The strategic shift comes during a challenging quarter for SharpLink, marked by a significant Ether price drop and a large noncash impairment charge. The initiative is designed to maximize returns and composability within SharpLink’s treasury management.
