In accordance with IntoTheBlock, Lido leads the liquid staking market. It has over 9.8 million staked Ethereum (ETH). The quantity is staked by 319,819 distinctive addresses.
Lido continues to dominate the liquid staking token (LST) market, with $stETH representing a considerable share of the entire staked ETH. Over 9.8 million $ETH are at the moment 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 answer for proof-of-stake cryptocurrencies. It helps post-Ethereum Merge consensus layer (previously Ethereum 2.0) staking and different layer-1 PoS blockchains like Polygon, Kusama, Solana, and Polkadot. Lido makes staking on Ethereum extra accessible by permitting customers to stake fractions of Ether to earn block rewards.
Extra Concerning the Liquid Staking
A method liquid staking companies like Lido encourage new customers to take part in securing proof-of-stake networks like their very own is by permitting clients to stake any variety of proof-of-stake belongings in trade for block rewards. Via such a mechanism, the community can distribute customers’ staked belongings throughout a number of validators, eliminating dangers related to a single level of failure and single validator staking.
stETH is the most important asset staked by way of Liquid Staking Tokens (LSTs), adopted by rETH and cbETH. The quantity of stETH staked is 80% greater than that of different belongings. One of many principal causes customers select Lido for Ethereum staking is the decrease barrier to entry and nice comfort. Customers can stake any quantity of ETH with Lido with out assembly the minimal staking requirement (32 ETH) required to run an unbiased validator node.
