In today’s technological world, cryptocurrency presents a distinctive financial tool that grants individuals with internet access the ability to engage in a decentralized economy and much more. This also encompasses various prospects for earning passive income. To generate passive income from cryptos, staking stands out as the most effective strategy. The most famous strategy nowadays is through LSDs.
In this article, we will delve into the biggest LSD provider, Lido DAO (LDO) and give an insight into Ethereum (ETH) and its Shapella upgrade. Moreover, we will also take a look into the new contender in the meme coin space, Caged Beasts (BEASTS). With a revolutionary referral program, will this meme coin surpass LSDs as a passive income strategy?
Liquid Staking Derivatives, or LSDs, enable stakers to earn yields while maintaining the liquidity of their staked assets. For example, it enables ETH stakers to earn yields, while also providing tokenized IOUs for staked ETH. These tokenized IOUs are referred to as LSDs, which can be sold, traded, or utilized in DeFi applications, just like regular ETH. LSDs were already gaining traction, but the recent network upgrade, Shapella, has significantly amplified their popularity.
LIDO Soaring Through The Roof With LSDs
LSDs automatically accumulate yield, eliminating the need for users to spend money on gas fees when withdrawing their staking rewards. Moreover, LSDs remove the Ethereum (ETH) entry barrier, enabling anyone to stake any amount of ETH and receive yield in return. The versatility of LSDs has significantly contributed to their popularity, with stETH, an LSD issued by Lido, now ranking as the 8th largest cryptocurrency by market capitalization.
With approximately $12 billion worth of capital deposited on the platform, Lido DAO (LDO) has become the largest decentralized finance (DeFi) application on the Ethereum network. Lido DAO is a decentralized autonomous organization that enables users to stake their Ethereum (ETH) assets and earn rewards.
Shape-lla the Crypto Space with Ethereum
On April 12, 2023, Ethereum (ETH) underwent a significant event known as the Shanghai upgrade, or Shapella for short. This highly important occurrence in the crypto industry marked Ethereum’s transition to Proof-of-Stake (referred to as ‘The Merge’), bringing about a revolutionary staking mechanism and reshaping the crypto space entirely.
Ethereum, the second-largest cryptocurrency by market capitalization, is a decentralized blockchain platform that enables the development of smart contracts and decentralized applications (dApps). Ethereum continues to drive innovation, fostering the growth of decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on its network.
Caged Beasts: Setting Free the Revolution of Passive Income in Crypto
Caged Beasts (BEASTS) is the newest meme coin built on the Ethereum blockchain that has completely transformed the idea of passive income with its captivating referral program. This De-Fi project combines entertainment value, a thriving community, and an innovative ecosystem, aiming to reshape the crypto landscape through its unique ‘caged liquidity’ mechanism and revolutionary referral system.
With 75% of the total funds locked until the official launch date, Caged Beasts fosters long-term growth and investment returns within its ecosystem. On the other hand, the referral scheme of Caged Beasts is an integral part of its ecosystem, allowing users to earn rewards by inviting others to join the vibrant Caged Beasts community.
Under the referral scheme, each user receives a personalized referral code. When someone uses this code during their purchase, the code owner instantly receives 20% of the deposited amount. These rewards can be freely utilized, providing immediate benefits to the code owner.
What sets this referral scheme apart is the added benefit it offers to the investor who utilizes someone else’s referral code. Additionally, they receive an extra 20% of BEASTS tokens, establishing a mutually advantageous agreement.
Opportunities for passive income in the cryptocurrency industry have expanded significantly, offering investors various avenues to earn rewards while actively engaging in the ecosystems. Caged Beasts’ referral program takes a community-focused approach, allowing immediate benefits by inviting others to join.
The presale phase of Caged Beasts is currently underway, presenting the ideal moment to invest in this emerging meme coin. Early investors have the potential to earn impressive returns of up to 800% on their investments during the initial stage of this groundbreaking project. So, don’t hesitate! Join Caged Beasts today and unleash the full potential of crypto!
For more about Caged Beasts (BEASTS):
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
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