Lido Now Hit A High Record Of TVL Overtaking MakerDAO
Key Points:
- MakerDAO’s $5.89 billion and AAVE’s $3.7 billion in TVL, Lido’s liquid staking protocol currently commands $5.9 billion in TVL.
- Around $23.2 million was bet on Solana, $43.9 million on Polygon, $11 million on Polkadot, and $2.2 million on Kusama.
Procedure for liquid staking given that Lido Finance’s total value locked (TVL) is now ranked first among other decentralized finance (DeFi) protocols, it appears that Lido Finance profited the most from the September Ethereum Merge.
In comparison to MakerDAO’s $5.89 billion and AAVE’s $3.7 billion in TVL, Lido‘s liquid staking protocol currently commands $5.9 billion in TVL, according to statistics from DeFiLlama.
The website of Lido Finance states that as of January 2, $5.8 billion worth of ether was staked. Around $23.2 million was bet on Solana, $43.9 million on Polygon, $11 million on Polkadot, and $2.2 million on Kusama at the same time.
Users may access liquid Ether staking using Lido’s technique without committing to the customary 32 ETH requirement.
Since Ethereum switched to proof-of-stake, staking solutions like these have been in great demand, according to blockchain data analytics from Nansen in December.
The Merge’s introduction of staked ETH as a yield-bearing instrument that is completely native to cryptocurrencies was noted in its report, and it has since outperformed other collateralized yield-bearing offerings.
Due to the fact that Lido transmits received Ether to the staking protocol, its fee revenue has been exactly proportionate to Ethereum Proof-of-stake (PoS) revenues.
A Messari announcement in September 2022 indicated that the MakerDAO, which oversees the Maker protocol, had its revenue fall to little over $4 million in Q3, an 86% decrease from the previous quarter. The reduction was attributed to a lack of liquidations and weak loan demand.
According to Nansen in September, Lido owned 31% of the ETH that was staked among DeFi during that same month, which is a considerable proportion when compared to big cryptocurrency exchanges Coinbase and Kraken, which held 15% and 8.5% of the cryptocurrency market, respectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
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Lido Now Hit A High Record Of TVL Overtaking MakerDAO
Key Points:
- MakerDAO’s $5.89 billion and AAVE’s $3.7 billion in TVL, Lido’s liquid staking protocol currently commands $5.9 billion in TVL.
- Around $23.2 million was bet on Solana, $43.9 million on Polygon, $11 million on Polkadot, and $2.2 million on Kusama.
Procedure for liquid staking given that Lido Finance’s total value locked (TVL) is now ranked first among other decentralized finance (DeFi) protocols, it appears that Lido Finance profited the most from the September Ethereum Merge.
In comparison to MakerDAO’s $5.89 billion and AAVE’s $3.7 billion in TVL, Lido‘s liquid staking protocol currently commands $5.9 billion in TVL, according to statistics from DeFiLlama.
The website of Lido Finance states that as of January 2, $5.8 billion worth of ether was staked. Around $23.2 million was bet on Solana, $43.9 million on Polygon, $11 million on Polkadot, and $2.2 million on Kusama at the same time.
Users may access liquid Ether staking using Lido’s technique without committing to the customary 32 ETH requirement.
Since Ethereum switched to proof-of-stake, staking solutions like these have been in great demand, according to blockchain data analytics from Nansen in December.
The Merge’s introduction of staked ETH as a yield-bearing instrument that is completely native to cryptocurrencies was noted in its report, and it has since outperformed other collateralized yield-bearing offerings.
Due to the fact that Lido transmits received Ether to the staking protocol, its fee revenue has been exactly proportionate to Ethereum Proof-of-stake (PoS) revenues.
A Messari announcement in September 2022 indicated that the MakerDAO, which oversees the Maker protocol, had its revenue fall to little over $4 million in Q3, an 86% decrease from the previous quarter. The reduction was attributed to a lack of liquidations and weak loan demand.
According to Nansen in September, Lido owned 31% of the ETH that was staked among DeFi during that same month, which is a considerable proportion when compared to big cryptocurrency exchanges Coinbase and Kraken, which held 15% and 8.5% of the cryptocurrency market, respectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
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