Coinbase launches liquid staking token to keep Ethereum decentralized
blockchain EthereumCoinbase launches liquid staking token to ‘keep Ethereum decentralized’08 / 25 / 2022Balita ng Ethereum ng Bitcoin Coinbase has launched a liquid token for its users who staked their Ethereum (ETH) on its platform called cbETH, according to an August 24 anouncement. Ang Coinbase ay magdaragdag ng suporta para sa Coinbase Wrapped Staked ETH (cbETH) sa Ethereum network (ERC-20 token). Huwag ipadala ang asset na ito sa ibang mga network o mawawala ang iyong mga pondo. “Coinbase Wrapped Staked ETH (cbETH) is a utility token that represents ETH2, which is ETH staked through Coinbase. cbETH can be sold or sent off-platform, while ETH2 will remain locked-up until a future protocol upgrade.” According to the anouncement, only staking fees will apply, and there will be no fees for wrapping and unwrapping the tokens. Coinbase continued that the price of cbEth doesnt track the ETH value at a 1:1 ratio as it only represents the staked ETH and accrued staking interest. With the Ethereum Merge only a few weeks away, interest in staking has increased. However, staked ETH withdrawals will not be enabled until the Shanghai update, scheduled for 2023. Competing against “Lido” The exchange‘s whitepaper noted that Ethereum’s liquid staking market is dominated by a “solution that is