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Sun Yuchen’s recent pledge to Lido on Ethereum

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On February 26th, Lookonchain tweeted that Sun Yuchen had just pledged 10000 ETHs (US $16 million) on Lido. At present, he has pledged a total of 200100 ETH (U…

Sun Yuchen’s recent pledge to Lido on Ethereum

On February 26th, Lookonchain tweeted that Sun Yuchen had just pledged 10000 ETHs (US $16 million) on Lido. At present, he has pledged a total of 200100 ETH (US $320 million) and received 18.68 ETH income within 24 hours, about 3.6% of APY.

Data: Sun Yuchen has pledged 10000 new ETHs in Lido, and at present more than 200000 ETHs have been pledged

Interpretation of the news:


On February 26th, Lookonchain, a blockchain analytics platform, tweeted about Sun Yuchen’s latest pledge on Lido. According to the tweet, Sun had just pledged 10,000 ETHs, which is equivalent to US $16 million on Lido. Sun’s total pledge on the platform now stands at 200,100 ETHs, worth around US $320 million. Within 24 hours of the pledge, Sun received an income of 18.68 ETHs, roughly equivalent to a return of 3.6% of the Annual Percentage Yield (APY).

Sun Yuchen is the founder of the blockchain platform TRON, which focuses on the creation of decentralized applications (dApps). TRON aims to create a decentralized internet ecosystem and digital content sharing platform. Sun’s reputation and success in the blockchain industry have made him a notable figure in the ecosystem, and he has been actively involved in various blockchain projects.

Lido is a decentralized platform that allows users to earn interest on their ETH holdings. Essentially, users can stake their ETH on Lido, and the platform pools all staked assets together to form a single entity. This means that users can earn interest on their staked ETH without having to worry about the risks of running their own nodes.

The fact that Sun Yuchen has pledged such a significant amount of ETH on Lido is indicative of his trust and confidence in the platform. Moreover, the returns he has received within 24 hours suggest that the APY on Lido is currently very competitive. The broader significance of this development lies in the fact that it further legitimates and amplifies the growing interest in decentralized finance (DeFi) and decentralized applications (dApps) more generally.

In conclusion, Sun Yuchen’s recent pledge to Lido on Ethereum is a noteworthy event in the blockchain industry. The fact that such a notable figure in the industry has put such a significant amount of ETH on the platform reinforces the credibility and viability of DeFi and dApps. Additionally, the high returns that Sun has received within 24 hours suggest that Lido is a competitive platform within the DeFi ecosystem. It is likely that we will see more notable figures in the industry following Sun’s lead with similar pledges in the future.

Overall, the message conveyed through Lookonchain’s tweet highlights the rapid development and increasing interest in the DeFi ecosystem driven by key industry figures like Sun Yuchen.

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