Liquid staking on BNB Smart Chain, millions stuck in DeFi bridge contracts: Finance Redefined

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The BNB Chain core development team said liquid staking aims to streamline the network and improve efficiency.

Arkham Research notified DeFi wallet owners to look at the addresses and try to retrieve their funds, which have been stuck for months in bridge contracts.

DeFi protocol Chainlink launched a cross-chain protocol that makes cross-chain smart contracts more interoperable across nine blockchain networks. BNB Chain said that enabling liquid staking on BSC will allow ecosystem participants to secure the network while keeping the liquidity of their assets. While the organization did not give a specific date for the rollout of the liquid staking feature, BNB Chain said it will happen in April or May.Chainlink’s Cross-Chain Interoperability Protocol has entered general availability to foster more cross-chain connectivity.

Due to EigenLayer’s rapid growth in TVL, the protocol may be outgrowing its Actively Validated Services , which could lead to a major yield reduction, according to Chudnov, a pseudonymous builder at 3Jane derivatives exchange. Part of the staking rewards are passed on to the user. Yet AVS on the protocol require much less staked Ether for security, which could lead to issues in the future.Dozens of crypto whale wallets with assets ranging from six to seven figures are stuck on multiple DeFi bridge contracts.

 

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