Lido Finance Fees Exploding, Should Comparatively Low Revenue Be A Concern?
The total amount of Ethereum (ETH) staked on Lido Finance, one of the many liquidity staking protocols available, has risen steadily over the past few years. Surprisingly, revenue accrued by the platform (compared to staking rewards distributed) remains comparatively low. Lido Finance Revenue Isn’t Growing As Fast As Expected Looking at Token Terminal data shared on October 19, the blockchain analytic platform observed that while staking rewards paid, counted as “fees” by Lido Finance grew from less than $10 million in early 2021 to over $60 million in June 2023, revenue....
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Singapore — August 17th – Lido Finance, a giant in the Ethereum staking world, will be enhancing liquidity on Polygon with KyberSwap Elastic. Lido Finance is the largest platform for liquid staking services on Ethereum. Powering DeFi and CeFi applications alike with their technology, Lido Finance empowers stakers to put their staked assets to use on their supported networks: Ethereum, Solana, Polygon and Polkadot. This first phase of this joint initiative is set to bring liquidity providers over $120,000 in liquidity mining rewards, with more incentives to come in the near....
Recent comments by Danny Ryan, often referred to as the beacon chain’s mastermind, have sent ripples through the Ethereum community. In a candid interview, Ryan called out Lido and similar protocols, claiming they pose a systemic threat to Ethereum’s foundational values and its core consensus mechanisms. The crux of Ryan’s concern revolves around Lido’s growth. […]
Infrastructure provider Chorus One believes they can help Lido corner 25% of all staked SOL. One of the largest ETH 2.0 and Terra staking services is now looking to expand to other proof-of-stake chains, starting with upstart layer 1 Solana. In a proposal today on Lido’s governance forums, crypto infrastructure provider Chorus One laid out a plan to build “a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana,” similar to Lido’s current interest-accruing stETH token. Development funding to bring Lido’s....
Back in 2022, Lido Finance, a decentralized finance (DeFi) protocol providing staking services, announced support for Solana. Since then, the DeFi platform has provided an avenue for Solana users to stake their SOL and receive a liquid staking token while doing so. The platform has run into a problem that could lead to the end […]
Friend.tech, a decentralized social media platform built on the Base, the Ethereum layer-2 scaling solution backed by Coinbase, generates more fees, and thus, revenue than Bitcoin. This transactional platform allows users to move value. According to Token Terminal data on Oct. 6, Friend.tech generated $28.6 million in fees, above Bitcoin’s $26.8 million. This spike is […]