Lido takes the crow as DeFi’s top platform by TVL, surpassing Maker DAO.
Blockchain data analytics from Nansen in December noted that staking solutions such as these had been in high demand since Ethereum’s shift to proof-of-stake.
It’s report highlighted the impact of the Merge in introducing staked ETH as an out-and-out cryptocurrency-native yield-bearing instrument that has quickly outstripped other collateralized yield-bearing services. Lido appears to have benefitted from this, as its fee revenue has been directly proportional to Ethereum Proof-of-stake earnings since Lido sends received Ether to the staking protocol.
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