Lido overtakes MakerDAO and now has the highest TVL in DeFi
A Nansen in December noted that Ether staking solutions had been in high demand since Ethereum’s shift to proof-of-stake. Liquid Staking protocol Lido Finance appears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols. According to data from DeFiLlama, Lido’s liquid staking protocol now commands $5.9 billion in TVL, compared to MakerDAO's $5.89 billion and AAVE’s $3.7 billion. Lido now has the highest TVL of any DeFi protocol. pic.twitter.com/2xsM3lVGVl — Patrick | Dynamo DeFi (@Dynamo_Patrick) January 1, 2023 According to Lido Finance’s website, as at Jan. 2 had $5.8 billion Ether (ETH) staked. Meanwhile, there was around $23.2 million staked in Solana (SOL), $43.9 million in Polygon (MATIC), $11 million in Polkadot (DOT) and $2.2 million in Kusama (KSM). Lido’s model allows users access to liquid Ether Staking without committing to the traditional 32 ...