Lido Finance Achieves Major Milestone in Ethereum Network
1/2
In Brief
1. Lido Finance surpasses one million validators on Ethereum.
2. Staked ETH by Lido represents 28.5% of total Ethereum staked.
3. Concerns grow about centralization risks with Lido's dominance.
Ethereum‘s largest decentralized finance (DeFi) protocol, Lido Finance,has reached an important milestone by surpassing one million validators. Maintaining its leading position among liquid staking protocols, Lido has made staking on the Ethereum network more accessible, significantly accelerating this mechanism.
Significant Achievement from Lido Finance
According to information announced by Lido Finance, the protocol has now successfully exceeded one million validators on the Ethereum network. This news was made public in a post
dated April 29. Liquid staking protocols like Lido play a crucial role by simplifying staking for individual users who need substantial capital to run their own validator nodes on Ethereum.
According to Dune data, Lido Finance currently represents 28.5% of the total ETH staked. This impressive figure shows that more than 27% of the total Ethereum supply is staked on the Ethereum network. Additionally, major exchanges like Coinbase also support Lido with a 13.6% share.
Liquid staking protocols are recording rapid growth by offering
liquidity advantages to users. Lido users stake their ETH with the
protocol and receive staked ETH (stETH) in return. This staked ETH can also be used in other DeFi protocols. However, in regular staking, tokens remain locked and unusable as long as they are staked.
Significant Growth in Total Locked Value
The growth of the DeFi ecosystem continues to increase with the influence of key players like liquid staking protocols. Protocols like Lido hold a significant share in the total DeFi TVL. According to DeFiLlama, liquid staking protocols have surpassed a total TVL of $47.7 billion, with Lido leading at $29.9 billion.
#Megadrop #FollowYourBrotherForMore #write2earn🌐💹