DeFi
Reading time: ~2 m
The liquid staking protocol Lido Finance is prominent in the world of decentralized finance (DeFi). As of May 25, 2023, total value locked (TVL) across DeFi apps and protocols reached $46.6 billion, with TVL Lido accounting for 26.18% of that amount.
Approximately $12.2 billion was blocked in this protocol on Thursday, according to figures from defillama.com.
Derivatives for liquid staking ETH May 25, 2023.
According to the Lido website, the current value recorded in the protocol is $12.27 billion, of which $12.11 billion is in Ether (ETH). The rest of the value locked in Lido comes from networks like Polkadot, Solana, Polygon and Kusama.
The 26.18% share currently occupied by the protocol is significantly higher than last year, when the total TVL in the DeFi sector was $111.11 billion.
At the time, TVL Lido was at $8.28 billion and held a 7.45% share of the total assets locked in DeFi at that time. A year ago, MakerDAO dominated the DeFi protocols by TVL with 8.87% of the DeFi economy and $9.86 billion in value locked. Lido began gaining momentum in early 2023, when TVL DeFi was worth a modest $38.72 billion.
When TVL in DeFi hit $38.72 billion, Lido had a 15.24% market share. During this period, only $5.9 billion was locked in Lido. According to statistics from defillama.com, Lido owns 73.26% of the ETH liquid staking derivatives market. The current numbers are as follows: out of a total of 9,128,624 ETH locked up, Lido owns 6,687,554 ETH.
Lido volume is up 8.91% in the last 30 days, while liquid staking ETH derivatives competitors like Rocket Pool and Frax Ether are seeing double-digit gains. Over the past month, Rocket Pool recorded an increase of 32.18%, and Frax Ether – 42.25%. A similar financial instrument from Coinbase occupies the second position with 1,128,662 ETH blocked, however, over the above period, its share has decreased by 1.47%.
#Lido #Staking #Pool #Shows #Significant #Increase #Locked
