- Lido beats MakerDAO by $0.5M in DeFi TVL.
- At the time of writing, Lido had a DeFi TVL of $5.96 billion.
- Lido seems to be benefiting from Ethereum’s merge upgrade.
At the time of writing, Lido, which specializes in liquid staking, has a total stake of $5.96 billion, which is $0.5 billion more than MakerDAO’s TVL of $5.91 billion. DefilamaMakerDao has held the largest DeFi TVL for many years and this overtake means that Lido is gaining ground despite the ongoing crypto winter.
In addition to the increase in staked digital assets, the price of Lido DAO’s native token, LDO, has been consistently rising, rising by more than 18% over the past seven days. At the time of writing, it has surged 14.67% in the last 24 hours.
The growing interest in Lido among decentralized finance participants is driven by increased demand for an Ether staking solution since Ethereum moved to a Proof of Stake (PoS) consensus mechanism after the September 2022 merge upgrade. It is strongly believed that this is due to the increasing
Digital assets staked on Lido
According to Lido Finance website as of January 2023, Ether (ETH) was the largest staked digital asset with $5.86 billion worth of ETH tokens. Solana holds SOL tokens worth $26.087 million.
Other notable tokens staked on Lido include Polygon’s MATIC with $45.093 million worth of MATIC tokens, Polkadot’s DOT with $11.395 million worth of DOT tokens, and $2.238 million worth of DOT tokens. Includes Kusama’s KSM with KSM tokens.
No 32 ETH minutes.Required to bet Ether on Lido
Lido’s model allows users to access Ethereum staking without having to commit the traditional 32 ETH minimum to allow Ether staking. This has significantly increased the number of people choosing to stake her ETH on Lido compared to other his DeFi staking platforms.
According to Lido’s staking model, users stake any amount of tokens, including Ether, to access daily staking rewards. In addition to daily staking rewards, users will also receive liquid stTokens. This can be used throughout DeFi to further increase your daily staking rewards.