Lido Now has Highest TVL in DeFi; Beats MakerDAO

Liquid staking protocol Lido now has the highest total value locked (TVL) out of all DeFi protocols, beating even MakerDAO. In comparison to MakerDAO’s $5.89B and AAVE’s $3.7B in TVL, Lido currently holds $5.98B in TVL, according to DeFiLlama.

Currently, in Lido, there are stakes totaling $5.9B in Ethereum, $25.6M in Solana, $45M in Polygon, $11M in Polkadot, and $2.2M in Kusama. Users can access liquid Ether staking with Lido’s model without committing to the customary 32 ETH minimum.

The Merge’s influence on the growth of yield-bearing crypto demonstrated how swiftly Lido advanced compared to other offerings. Moreover, the fee revenue Lido receives from the staking protocol after obtaining ether from it is directly proportional to the earnings produced by it.

Also Read: All About Ethereum Staking