Lido has announced a partnership with Mellow Finance aimed at providing stETH (staked ETH) holders access to advanced DeFi vaults. This collaboration also involves an association with Symbiotic.

The partnership supports Lido's initiative to enter the Ethereum restaking sector and offer relevant opportunities to stETH holders, aiming to enhance liquidity and utility for the token. In return, token holders gain access to a robust security framework that includes comprehensive audits, rigorous testing, and ongoing monitoring.

Named the Lido Alliance, the partnership will roll out in phases, starting with this initial announcement. Details about future plans will be shared gradually as the partnership evolves, focusing on creating value for stETH holders through strategic alliances and collaborative efforts.

This partnership enables stETH holders to restake their tokens, receive Mellow Vault LRTs, earn staking rewards, additional rewards based on their Vault’s Curator Strategy, and earn Mellow and Symbiotic points. These benefits are seen as new opportunities for token holders.

At launch, four vaults are expected to go live: Steakhouse Financial, P2P Validator, MEV Capital, and Re7 Labs. The community stands to benefit from enhanced rewards through DeFi opportunities without compromising the utility and liquidity of staked Ether. Lido Alliance is committed to delivering a user-friendly and thoroughly tested experience.

Despite the announcement, stETH has experienced a slight decline of 0.29% in the last 24 hours, trading at $3,519.13. Over the past 7 days, it has decreased by 7.46% but has risen by 20.46% in the last 30 days, closely mirroring ETH trends, with a market cap exceeding $422 billion.

Overall sentiment within the Ethereum ecosystem remains cautious, with a volatility of 9.25% and a 14-day RSI of 44.97. The 50-day SMA and 200-day SMA are currently $3,358.08 and $2,915.50, respectively.

Looking ahead, Ether is forecasted to reach $3,622.76 in the next 5 days and $3,623.93 within 30 days, indicating a modest increase of 2.46% from its current value. The launch of a Spot Ether ETF could potentially bolster its value further.

The collaboration between Lido and Mellow Finance to form the Lido Alliance is significant, particularly in its efforts to enhance liquidity and access to advanced DeFi solutions for stETH holders. The community eagerly awaits the outcomes of this partnership.