What Is LSDx Finance (LSD)
Are you prepared to delve into LSDx Finance, the cutting-edge protocol offering exceptional liquidity for all Liquid Staking Derivatives? In this article, we will provide an overview of the protocol and guide you through the process of buying and depositing LSDx Finance (LSD) on Bitget.
Imagine being able to earn staking rewards without locking your funds for a long period of time. That's the beauty of Liquid Staking Derivatives (LSDs) on Ethereum. And now, with the Shanghai Upgrade set to launch this month, users will finally be able to unstake their ETH and reap the rewards of their staking efforts.
But with so many LSD solutions available, it can be tough for users to decide which one to choose, leading to fragmentation of liquidity across multiple platforms. Some may also be hesitant to trust these new solutions and prefer traditional staking methods.
In response to these challenges, LSDx Finance (LSD) was introduced to provide a comprehensive solution for users seeking to participate in liquid staking derivatives on Ethereum.
Introduction to LSDx Finance
LSDx Finance (LSD) is a protocol designed to optimize the financial value of liquid staking derivatives assets. But what exactly are liquid staking derivatives, you might ask?
When you have some special digital money called a "staking token," you can lend it to someone else so they can use it to do important things like help keep a computer network secure. But you do not want to give up your staking token entirely because you want to be able to use it again someday.
So, liquid staking derivatives let you lend out your staking token to someone else while also getting a new kind of digital money in return. This new digital money represents your staking token but in a different form that is easier to use and trade.
That way, you can still keep your staking token safe and secure while also getting some new digital money to use in other ways. And when you are ready to use your staking token again, you can "redeem" it by trading in your new digital money for the original staking token you lent out.
However, the liquidity of these assets is limited, and they lack diverse financial scenarios, hindering their connection with various DeFi protocols. This is where LSDx Finance comes in. They provide an ultra-liquid protocol for all liquid staking derivatives, optimizing their financial value and solving their liquidity issues. In addition, the LSDx protocol has been designed to accommodate users with varying return preferences through the implementation of diverse lock-up periods and intricate reward distribution models, thereby enabling them to obtain satisfactory returns.
LSDx Finance currently offers two main products:
- ETHx, a basket of LSD that allows for fast switching;
- UM, a sovereign bond-backed stablecoin based on ETH staking returns.
And in March 2023, LSDx Finance received a strategic investment of $2 million from Foresight Ventures, proving their potential and the confidence investors have in the project. LSDx Finance isn't just another run-of-the-mill crypto project. It's a game-changing protocol that caters specifically to liquid staking derivatives assets.
What is LSDx Finance (LSD) roadmap?
As the world becomes more digitized, the demand for alternative investment options and stable financial instruments has grown significantly. In response to this growing demand, LSDx Finance has created a roadmap of exciting new developments set to take place throughout 2023.
- April 2023: Launch of ETHx
LSDx Finance will launch ETHx, a cryptocurrency investment vehicle for institutional investors and high-net-worth individuals, providing exposure to Ethereum without the need to manage wallets.
- April 30th, 2023: First adjustment of ETHx earnings
LSDx Finance will adjust ETHx earnings to reflect market conditions and ensure investors receive optimal returns.
- June 30th, 2023: Launch of UM
LSDx Finance will launch UM, a stablecoin offering price stability and reduced volatility. Its collateralization mechanism and excess ETHx pledge will ensure stability and enable its use in various applications, including payments, lending, liquidity provision, and structured products. UM has potential to become a significant player in the stablecoin market.
What are LSDx Finance (LSD) tokenomics?
The LSD token (LSD) is the governance token of LSDx Finance. With a total supply of 1,000,000,000, LSD tokens can be used to vote on proposals and decisions related to LSDx's development and management.
LSDx Finance (LSD) Token Distribution
LSDx Finance for Bitget Innovation Zone
Are you searching for a centralized exchange that bridges the gap between startups and investors? If so, look no further than the Bitget Innovation Zone! With a dynamic user base of over 8 million Bitgetters and a vast network of more than 100,000 influencers, Bitget Innovation Zone offers a one-of-a-kind opportunity to discover and invest in the hottest and trendiest projects in the market.
We are excited to announce the listing of LSDx Finance (LSD) on the Bitget Innovation Zone, opening up a world of possibilities for savvy investors.
Contract Address (ERC20): 0xfAC77A24E52B463bA9857d6b758ba41aE20e31FF
Spot Trading Link: LSD/USDT
Spot Grid Trading Link: LSD/USDT
Not yet a Bitgetter? Join Bitget To Unlock 5,005 USDT In Welcome Bonus
How to buy LSD on Bitget spot market
For those who are new to Bitget Spot Trading, check out our articles to get a good grasp of the spot trading basics
You need to deposit your asset in the Bitget spot account or buy USDT/USDC/BTC/ETH. We offer two methods for purchasing these coins: the guide for P2P is available here and for using Fiat, refer to Buy Crypto With Fiat Currencies on Bitget.Send cryptocurrencies from your other wallet to your Bitget Spot account.
Buy cryptocurrencies with your bank account.
Buy cryptocurrencies with your Credit Cards/ApplePay/GooglePay.
Step 2: Once you have the deposit, go to Bitget Spot Trading and explore over 580 trading pairs! You can seek the availability of a cryptocurrency on Spot Trading by entering its name in the search box (For example: LSD to find the available LSDx Finance trading pairs).
BGB holders can conveniently enjoy a 20% cut on transaction fees if they choose to pay for their Spot transaction with BGB.
Step 3: Choose your preferred pair and don’t forget to fill in the number for market order and other conditional orders. Once you’re done, click on Buy/Sell.
Step 4: To check your assets, go to Asset then Overview.
How to deposit LSDx Finance (LSD) on Bitget
On the homepage, click on your account icon and choose Dashboard.
Step 2: Click on Deposit OR click HERE to access the Deposit page quickly.
Step 3: Search ‘LSD’ and select it, then select the chain you want to deposit. After choosing the token and chain, we will generate an address and a QR code. You can use either option to make a deposit.
Note: Please keep in mind that you must use the same chain (ERC20, TRC20, BEP2, BEP20, etc.) on the site where you are withdrawing your cryptocurrency. Care should be taken since choosing the wrong chain might result in losing your valuables.
Step 4: After completing the deposit process, you can head to Dashboard to view your asset.
You can also check your deposit history by returning here.
Step 1: Log into your Bitget account and tap “Deposit” on the homepage.
Step 2: You can now select the LSD token.
Please keep in mind that you must use the same chain (ERC20, TRC20, BEP2, BEP20, etc.) on the site where you are withdrawing your cryptocurrency. Care should be taken since choosing the wrong chain might result in losing your valuables.
Step 3: After choosing your preferred token and chain, we will generate an address and a QR code. You can use either option to make a deposit.
Step 4: After completing the deposit process, you can head to Asset - Spot to view your asset.
You can also check your deposit record by tapping the [bill] icon.
Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.
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