Driven by CoinbaseCEO Bobby Armstrong, rumors that the Securities and Exchange Commission (SEC) is likely to ban retail customers' bets have fuelled a surge in governance tagging on Lido, a liquid betting service.
LDO, the governance representative of the decentralized autonomous organization behind LIDO, soared by about 11% immediately after the review was released, and by about 8.4% in the past 24 hours.
The LIDO agreement is managed by the LDO dynamic password management method, which allows Ethernet identification. The user will be given a dynamic password called Steth, which means that these people in the Ethernet status, and next month's network upgrade, he will be able to exchange for ether at 1:1. As a decentralized protocol, it is unlikely to comply with securities standards like Coinbase, a centralized entity line registered in the United States.
According to statistics given by DeFiLlama, the total amount locked in Lido has soared by 33 per cent in the recent month. At this stage, the TVL of Lido is $8.56 billion.
According to the data on the chain, Lido has a 25% market share in the gambling pool at this stage.
Coinbase owns 11.5 per cent and Kraken 7 per cent. If SEC were to act, as Armstrong said, it would be a boon to Lido, allowing it to capture industries owned by Coinbase and other US service providers applying for registration.
The SEC declined to comment on such rumors.
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Tue, 18 Apr 2023