Yearn Finance New Staked Token yETH Might Not Be Launched Yet
According to a survey on the Yearn Finance governance forum, participants are divided on introducing the yETH toen. The poll is non-binding and is intended to gauge community support in going forward with a binding vote through snapshot.
According to Yearn, there are an increasing number of LSDs, each with a unique yield, risk, and decentralization profile, as well as varying degrees of market liquidity. Inefficiencies in market pricing might lead to trading opportunities against the protocol’s underlying supported ETH value.
Staked ETH in a typical liquidity pool is not appropriate for collateral since the pool is only as secure as its least safe Member. However, new LSDs may struggle to establish traction and draw sufficient use and liquidity to compete with existing protocols with huge market shares.
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