June 22 (Cointime) - Raft, a stablecoin issuer, has reached a total value locked of $55 million, thanks to its flagship token backed by staked ether from Lido. Despite other protocols building stETH-backed stablecoins stalling, Raft's TVL has increased by 4,595% since June 5. The surge in Raft highlights the booming market for liquid staking tokens, with the liquid staking sector having a combined TVL of over $20 billion, making it DeFi's top dog. Raft CEO David Garai predicts that adding other staking derivatives as collateral over the next few weeks will significantly increase TVL.
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Raft's stETH-Backed Stablecoin Protocol Crosses $55M in TVL in Just Three Weeks
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1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX -
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
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