After more than 150,000 ETH were staked in a single day, Lido Finance turned on its safety mechanism known as “Staking Rate Limit.” The “safety valve” replenishes capacity at a pace of 6,200 Ethereum every 24 hours with the intention of restricting the quantity of staked ether (stETH) that can be produced during periods of large inflows. Due to the Staking Rate Limit mechanism, which reduces the total amount of stETH that may be created at any given time depending on recent deposits and restores this capacity on a block-by-block basis, Ethereum is losing $1,637 each hour.
According to Lido Finance, one person may have contributed 150,100 ETH, with three deposits of 50,000 apiece and one of 100. Due to the mid-March Ethereum Shanghai upgrade, there has been discussion on possible outcomes for the ETH price. Between the Beacon Chain’s inception and the introduction of staking to ETH in December 2020, $25 billion of ETH has been staked.
