The liquid staking project Lido has seen a lot more activity as the value locked in the DeFi protocol increased by more than 13% this week. Ethereum TheMerge
is a liquid staking project that allows people to wrap their crypto assets in order to gather a staking yield, but the process also allows owners to hold the assets in a non-custodial fashion and be able to trade them as well.
Lido offers liquid staking solutions for blockchains like Ethereum, Solana, Polygon, Polkadot, and Kusama. However, most of the value locked in Lido derives from locked ether, asmetrics from defillama.com indicates that Lido’s TVL swelled by 13.08%, and the TVL has risen by 2.43% during the past 24 hours. While Makerdao is the largest defi protocol today, in terms of TVL stats, Lido is the second largest defi protocol on September 11.
The ether locked in Lido’s application alone represents 12.60% of the $60.38 billion TVL in defi today. Lido’s wrapped ether derivative token,
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