Sharplink to deploy $200M of ETH on Linea to unlock DeFi yields
SharpLink plans to deploy $200 million of its Ether treasury onto the Linea network to generate DeFi yields through staking and restaking.Summary
The Nasdaq-listed company SharpLink has announced a multi-year initiative to deploy $200 million, or about 5.6%, of its substantial Ether treasury onto Consensys’s Linea layer-2 network. This deployment aims to generate onchain yield and increase the efficiency of its ETH holdings by capturing competitive, risk-adjusted returns. The yield generation strategy will involve staking and earning restaking rewards by securing EigenCloud’s decentralized verification services (AVSs), alongside incentives from Linea and the liquid staking protocol ether.fi. The $200 million deployment will be managed with institutional safeguards through Anchorage Digital Bank, SharpLink’s qualified custodian. SharpLink is noted as the second-largest corporate holder of ETH, and this move follows similar institutional trends where entities like ETHZilla and the Ethereum Foundation are increasingly utilizing DeFi protocols to enhance returns on their digital asset treasuries.
(Source：Cointelegraph)