Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Lido Finance briefly became the leading decentralized finance (DeFi) protocol by total value locked (TVL) on Wednesday morning ET, overtaking Curve with $20 billion staked before falling back into second place, according to DeFi Llama.

  • Launched in December 2020, Lido provides staking across the Ethereum, Terra, Solana, Kusama and Polygon chains.
  • At the time of publication, Lido was responsible for 9.28% of all value locked across the DeFi sector, with $200.96 billion being staked across all chains. More than 30% of all the ether (ETH) staked on the Beacon Chain is staked via Lido.
  • Following the milestone, Lido founding member Jordan Fish wrote on Twitter: "Very grateful to have spent the last decade surrounded by excellent people that did excellent things."
  • Since launch, Lido has paid out $439 million in staking rewards to more than 104,000 stakers.
  • The protocol currently offers yields of 3.6% on ETH and as high as 25.9% on kusama (KSM).

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.