The Grayscale DeFi Fund has added Lido DAO (LDO) token to its portfolio. 

In an update to investors announcing the rebalancing of its various funds, the asset management firm revealed that it had purchased a large quantity of the Lido liquid staking protocol’s governance token.

Liquid Staking Surges Post-Shappella

Liquid staking is a form of crypto staking. It allows owners of Proof of Stake (PoS) tokens to receive a substitute token in exchange for any crypto they choose to lock up in a staking pool. 

You can read What is Liquid Staking? to learn more.

In the post-Shappella Ethereum landscape, liquid staking is one of the preferred means of staking ETH. And Lido has triumphed as the protocol of choice as staking has surged since the major Ethereum upgrade.

As of Saturday morning, over 10 million ETH was staked via a liquid staking pool. Of this, Lido accounts for nearly 80%.

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Author: James Morales

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