A Nansen in December noted that Ether staking solutions had been in high demand since Ethereum’s shift to proof-of-stake.
Lido Finance appears to be benefiting greatly from the Ethereum merger in September, and the locked value (TVL) now takes the highest position among alternative financial systems (DeFi).
According to data from DefiLlama, the Lido liquid system commands $ 5.9 billion in TVL, compared to $ 5.89 billion for MakerDAO and $ 3.7 billion for AAVE. According to the Lido Finance website, as of January 2, there is $5.8 billion in Ether ETH ($1,218) stacker. Currently, there is approximately $23.2 million at stake in Solana LAND ($11), $43.9 million at Polygon MAT ($0.7819, $11 million to polkadot THINGS ($4.49) and $2.2 million to Kusama KSM ($22.46).
The Lido version allows users to access liquid Ether staking without having to pay the traditional minimum of 32 ETH. Analysis of Nansen’s blockchain data in December said that staking solutions seem to be in demand since Ethereum moved to proof-of-stake (PoS).
His report showed the impact of integration and the introduction of staked ETH as a cryptocurrency tool that yields a bottom line that quickly surpasses other promising projects. Lido appears to have benefited from this, as its income and expenses are directly proportional to Ethereum PoS funds since Lido sends Ether to the staking protocol.
In Nov. 2022 and Lido said it is collecting $1 million in fees every day since October 2022. Meanwhile, regulatory body MakerDAO saw its revenue drop to more than $4 million in the third quarter, an 86% drop from the previous quarter, according to a statement from Messari in September 2022. the reason for the failure. In the same month, Lido has the most ETH staked among DeFi, with 31% as Nansen in September, which is a huge amount compared to the main crypto exchanges Coinbase and Kraken, holding 15% and 8% individually.
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