The Lido Pledge Agreement and its MEV Rewards
On April 10th, it was reported that on April 9th at 10:35 Beijing time, the Ethereum Pledge Agreement Lido captured 689.02 ETH MEV rewards on Epoch193186, which may be related to t
On April 10th, it was reported that on April 9th at 10:35 Beijing time, the Ethereum Pledge Agreement Lido captured 689.02 ETH MEV rewards on Epoch193186, which may be related to the recent Sushi Swap vulnerability. P2P Validator, a technology developer for pledge solutions, tweeted that MEV rewards have entered Lido Rewards Vault and will communicate with Lido and Sushi to explore solutions.
689 ETHMEV rewards captured by P2P Validator have been entered into Lido reward vault
Introduction
On April 9th at 10:35 Beijing time, the Ethereum Pledge Agreement Lido captured 689.02 ETH MEV rewards on Epoch193186, which may be related to the recent Sushi Swap vulnerability. This has caused quite a stir in the crypto world, with many wondering what the Lido Pledge Agreement is and what MEV rewards are. In this article, we will explore the Lido Pledge Agreement, MEV rewards, and their relationship to the recent Sushi Swap vulnerability.
What is the Lido Pledge Agreement?
The Lido Pledge Agreement is a decentralized platform that allows users to stake their ETH and receive stETH in return. stETH is a tokenized version of ETH that is used to represent a user’s stake in the Lido Pledge Agreement. The Lido Pledge Agreement is unique in that it is a liquid staking solution, meaning that users can trade their stETH tokens for ETH at any time.
What are MEV rewards?
MEV stands for “miner extractable value.” It refers to the additional value that miners can extract from the blockchain beyond their standard block rewards and transaction fees. MEV rewards are the profits that miners make from this additional value.
MEV rewards are generated through arbitrage opportunities, sandwich attacks, and other forms of manipulation of the blockchain. In the case of the Lido Pledge Agreement, MEV rewards were generated through an arbitrage opportunity.
The Relationship between Lido Pledge Agreement and Sushi Swap
Sushi Swap is a decentralized exchange (DEX) that allows users to exchange cryptocurrencies on the Ethereum network. Recently, a vulnerability was found in Sushi Swap’s smart contract that allowed attackers to steal funds from the exchange. This vulnerability led to a drop in the price of Sushi Swap’s token, SUSHI.
The MEV rewards captured by the Lido Pledge Agreement are thought to be related to this Sushi Swap vulnerability. It is believed that the arbitrage opportunity used to generate the MEV rewards was based on the price drop of SUSHI following the vulnerability.
Solutions for the MEV Rewards
P2P Validator, a technology developer for pledge solutions, tweeted that MEV rewards have entered Lido Rewards Vault and will communicate with Lido and Sushi to explore solutions. It is unclear what these solutions could be or how they will affect the Lido Pledge Agreement and Sushi Swap.
Conclusion
The Lido Pledge Agreement and MEV rewards have become hot topics in the crypto world following the capture of 689.02 ETH MEV rewards on Epoch193186. MEV rewards are generated through the manipulation of the blockchain, and in this case, they are thought to be related to the recent Sushi Swap vulnerability. It remains to be seen what solutions will be proposed for the MEV rewards.
FAQs
Q: What is the Lido Pledge Agreement?
A: The Lido Pledge Agreement is a decentralized platform that allows users to stake their ETH and receive stETH in return.
Q: What are MEV rewards?
A: MEV stands for “miner extractable value.” It refers to the additional value that miners can extract from the blockchain beyond their standard block rewards and transaction fees.
Q: What is the relationship between Lido Pledge Agreement and Sushi Swap?
A: The MEV rewards captured by the Lido Pledge Agreement are thought to be related to a vulnerability found in Sushi Swap’s smart contract that allowed attackers to steal funds from the exchange.
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