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On January 9, Veno Finance, a liquid staking protocol on Cronos (CRO), officially integrated with the zkSync Era Layer-2 blockchain scaling solution.  This implementation enables users on zkSync Era to directly engage in Ethereum (ETH) token staking, earning Liquid ETH (LETH) tokens; this development expands opportunities for yield farming within the decentralized finance ecosystem of Veno Finance, as per the latest information shared with Finbold. The Veno protocol simplifies support for the Ethereum network among zkSync users. Its mechanism involves bridging ETH tokens between zkSync Era and the Ethereum mainnet, automating the staking and withdrawal processes on behalf of users.  How does staking on zkSync work? By staking ETH native ly on zkSync Era, users receive an equivalent amount of LETH tokens, providing an avenue to earn additional yield within its DeFi protocols. Cryptocurrency Key takeaways from Bybit's CryptoArk Keynote address ...

The popularity of liquid staking tokens could usher in a new age for Ethereum and the rest of cryptocurrency — and play a key role in the new bull market. Before we know it, liquid staking tokens (LSTs) are going to replace Ethereum’s native cryptocurrency, Ether (ETH). The LST market is already worth approximately $17 billion, and it has grown continuously since Ethereum’s Merge. While LSTs are just beginning to hit their stride, their advantages over traditional ETH will soon become clear to liquidity providers (LPs), toppling ETH from its throne and ushering in a new era of LST domination. Since the Merge, ETH can now be staked to produce a roughly 4% annual yield, depending on factors of network activity, total ETH staked, number of validators and the value captured by maximum extractable value. This development is significant because of the nature of ETH as a generally stable asset. Many cryptocurrencies are more volatile, so owners have to consider both yield and whether the pri...