In line with IntoTheBlock, Lido is the market chief in liquid staking. It has staked greater than 9.8 million Ethereum (ETH). The quantity was utilized by 319,819 distinctive addresses.
Lido continues to dominate the liquid staking token (LST) market, with $stETH representing a considerable portion of ETH’s whole stakes. There’s presently over 9.8 million $ETH staked by way of Lido, held by 319,819 distinctive addresses. pic.twitter.com/ZflLVl96NW
— IntoTheBlock (@intotheblock) July 30, 2024
Lido (LDO) is a liquid staking resolution for proof-of-stake cryptocurrencies. It helps post-Ethereum Merge consensus layer (previously Ethereum 2.0) staking and different layer-1 PoS blockchains akin to Polygon, Kusama, Solana and Polkadot. Lido makes staking on Ethereum extra accessible by letting customers stake fractions of Ether to earn block rewards.
Extra about increasing liquids
A technique liquid staking companies like Lido encourage new customers to take part in securing proof-of-stake networks like their very own is by permitting prospects to stake any variety of proof-of-stake property in change for block rewards. Such a mechanism permits the community to distribute customers’ staked property throughout a number of validators, eliminating the dangers related to a single level of failure and staking a single validator.
steTH is the most important asset staked by way of Liquid Staking Tokens (LSTs), adopted by rETH and cbETH. The quantity of stETH deployed is 80% greater than that of different property. One of many foremost explanation why customers select Lido for Ethereum staking is its decrease barrier to entry and nice comfort. Customers can stake any quantity of ETH at Lido with out assembly the minimal wagering requirement (32 ETH) required to make use of an impartial validator node.