• Lido’s staking market share increased significantly from 29% at the start of the year to 31% at the time of writing.
• Lido had processed nearly 99% of its withdrawal requests at press time.

Lido Finance [LDO], the largest liquid staking protocol, made giant strides of late, emerging as one of the success stories of the decentralized finance (DeFi) ecosystem. The Rollup, a DeFi analytics company, reported that Lido’s revenue increased by 22% over the previous 30 days, the largest increase of any DeFi protocol.

Impressive growth by @LidoFinance as it sits among the biggest revenue generators in DeFi.

Data provider @tokenterminal shows its revenue has grown significantly in the past month and now has one of the most robust 30-day trends with an increase 22.6%. pic.twitter.com/i9I4JqnMxK

— The Rollup (Formerly DeFi Slate) (@therollupco) June 1, 2023

The surge in revenue came following the launch of its much-awaited version 2, which enabled users to withdraw their Staked ETH [stETH] to Ethereum [ETH]. The protocol’s revenue is a fraction of the staking rewards distributed to holders of the native token, LDO.

The king of DeFi

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 (TVL) of the second-

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Author: Suzuki Shillsalot

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