The Staking Rate Limit reduces how much stETH can be minted at any one time, according to Lido.
Lido Staking Rate Limit Throttles Inflow of Staked ETH
Liquid staking protocol Lido has activated a safety feature called the Staking Rate Limit after more than 150,000 ETH was staked in a single day.
In return for users’ staked ETH, Lido issues stETH. The Staking Rate Limit decreases how much stETH can be minted at any one time. The rate of recovery is about 6.2K ETH per hour.
If a stETH minter encounters an error, Lido said to try again with a smaller amount or wait for the capacity to replenish.
Liquid staking protocols have attracted a large amount of attention as key components of the Ethereum ecosystem as the Layer-1 blockchain approaches the significant Shanghai upgrade, which will enable users to withdraw their staked ETH.
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts – that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
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Source : bsc.news
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