TechFlow News — Lido, the liquid staking protocol, stated that amid widespread market turmoil, the stETH:ETH exchange rate has deviated from its 1:1 peg. stETH is trading at 4.2% below ETH on the main Curve pool. There is no risk to long-term holders and liquidity providers, but leveraged positions in stETH are exposed to risk. Users with leveraged positions on platforms such as Aave may face liquidation and should reduce their risk exposure, for example by increasing collateral.
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