DeFi Platform Lido Votes Against Supporting New Terra Blockchain

Terra's revival plan was approved by network validators earlier Wednesday.

AccessTimeIconMay 25, 2022 at 12:22 p.m. UTC
Updated May 25, 2022 at 6:27 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Decentralized finance (DeFi) project Lido Finance voted overwhelmingly against supporting the new Terra blockchain, with fewer than 5.5% voting in favor. The revival plan was approved by Terra’s network validators today.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
First Mover Asia: Chip Maker Nvidia Isn’t an Ether Proxy, Bitcoin Holds Near $21K

Crypto mining aided Nvidia's bottom line, but it hasn't been a major cause of the stock's steep decline. Ether falls but hovers around $1,200.

CoinDesk - Unknown
2
CoinDesk - Unknown
CoinFLEX to Launch a $47M Recovery Token to Solve Withdrawal Issues

CoinFLEX said last week it was halting withdrawals amid market declines and counterparty uncertainty.

CoinDesk - Unknown
3
CoinDesk - Unknown
Solana’s Macalinao Brothers Double Down on Crypto Venture Fund

Crypto VCs told CoinDesk that building projects and investing in them is a tricky mix.

CoinDesk - Unknown
4
CoinDesk - Unknown
Ms. Crypto Goes to Washington

The Lummis-Gillibrand bill represents a mainstreaming of crypto, even if it's unlikely to pass.

CoinDesk - Unknown