Lido saw a surge in protocol revenue following the launch of its much-awaited version 2, enabling users to withdraw their Staked ETH to Ethereum.
. The protocol’s revenue is a fraction of the staking rewards distributed to holders of the native token, LDO.At the time of writing, Lido was the leading DeFi protocol with assets valued at $13.47 billion. According to DeFiLlama, this was more than twice the total value locked of the second-rankedAs evident, Lido’s TVL has been on a tear since the start of 2o23, bolstered by the hype and subsequent launch of the Shapella Upgrade. Since the launch of Lido V2, the TVL has climbed 15%.
This was further demonstrated by the steady increase in active protocol users over the last month, as indicated by Token Terminal.Lido was the undisputed leader when it came to Ethereum staking, The protocol’s staking market share has increased significantly from 29% at the start of year to 31% at the time of writing, according to Dune data. Coinbase was a distant second, with a little over 10% of the staking pie.
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