- The Liquid Staking Derivative sector dominated the DeFi market as LDO’s TVL increased.
- At press time, the total balance of Lido’s treasury stood at $301.4 million.
The Liquid Staking Derivative (LSD) sector of late has exhibited superior performance compared to all other areas within the DeFi space.
According to DefiLlama’s data, the TVL of the LSD sector has surpassed that of all other categories in the DeFi field.
Notably, protocols including Lido, Rocket Pool, and Frax have demonstrated significant growth and have effectively generated interest in the LSD sector.
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Lido plays a big role
Well, Lido has contributed the most to the growth of the LSD sector. In terms of Ethereum staking, Lido captured 30.9% of the overall market share, according to Dune Analytics’ data.
Consequently, the protocol has witnessed improvements in terms of daily activity. The data provided by the token terminal indicated that Lido witnessed a surge of 25.5% in terms of overall activity on the protocol. This gave a boost to the revenue as well.
The Lido protocol’s substantial revenue generation has led to a significant increase in the strength of its treasury.
According to data by Dune Analytics, as of press time, the total balance of Lido’s treasury stood at $301.4 million, with 79.7% of it being composed of LDO, followed by ETH at 11.1%.
The remaining assets in the Lido treasury comprise of DAI and stETH, which constitute 3.6% and 5.2%, respective
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Author: Himalay Patel
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