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Liquid Restaking Token of Doom: Because You Clearly Haven’t Learned From Your Previous 17 Crypto Disasters

Crypto NewsEthereumHack 1 Doug Martinez August 22, 2024

An illustration: a cartoon figure is shown with its head in the sand. The figure has 17 tombstones behind it labeled 'Crypto Disasters'. In front of the figure are two large, ominous-looking eyes staring at them. One eye holds an egg timer and the other one displays a countdown clock ticking down to zero. A small token flies into view from off-screen with a red "X" marked through it as if rejected by the figure in the sand. The background is dark grey with faint outlines of broken chains, suggesting previous failures have been overcome but not learned from.

YieldNest is at it again. Launching a new liquid restaking token called ynLSDe because apparently people still want to play with fire despite all the warnings about how crypto can burn you alive. I mean, what’s next? A token that lets you invest in unicorn farts and rainbows.

Source: cointelegraph

YieldNest launches new liquid restaking token
https://cointelegraph.com/news/yieldnest-launches-new-liquid-restaking-token
Decentralized finance (DeFi) protocol YieldNest is launching a new liquid staking derivative (LSD) called ynLSDe designed to capture restaking yield from EigenLayer, according to an Aug. 21 announcement.  The token “will allow the holders of Ether staked with Lido, FRAX, Origin Protocol, or Mantle to earn additional yield… through restaking,” YieldNest said. Lido, FRAX, Origin, and Mantle are decentralized Ethereum staking platforms, each of which issues its own LSD. Restaking […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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