$19.2 Billion in Assets Staked – Liquid Staking Solution Lido Set to Surpass Curves TVL – Defi Bitcoin News

With total locked value (TVL) in decentralized finance (defi) hovering just above the $214 billion mark, a defi protocol called Lido has moved closer to the top of Curve in terms of TVL in a defi protocol . Currently, liquid staking solution Lido has $19.2 billion in staking assets sourced from five different blockchain networks, including Ethereum, Solana, Terra, Polygon, and Kusama.

Lido’s staked assets account for nearly 9% of the $214 billion locked up in Defi

According to defillama.com, a total of $214 billion in value is tied up in decentralized finance at the time of writing. Currently, the largest defi protocol in terms of TVL size is Curve Finance, the decentralized exchange (Dex) platform. Today, Curve dominates the field with $20.71 billion and a dominance rating of around 9.67%, according to defillama.com statistics as of April 20, 2022.

Defillama.com statistics were recorded on April 20, 2022.

In terms of TVL in defi logs, Curve has been the leader for weeks, but liquid staking solution Lido could soon take the reins. Lido’s TVL, at least according to today’s figures from defillama.com, is $18.97 billion, up 16.02% over the past 30 days. Lido has seen significant usage as the Defi protocol allows Ethereum, Solana, Terra, Polygon and Kusama users to use their staked assets to generate returns on top of earnings.

Defillama.com statistics were recorded on April 20, 2022.

So if a user decided to bind Terra’s LUNA into the token called BLUNA, they would trade LUNA for BLUNA to start staking rewards. Meanwhile, in addition to bond staking, BLUNA tokens can also be used in pools to earn even more rewards from the bound tokens. The same is true for other networks like Ethereum as Lidos Staking Ether (STETH) has the 18th largest market cap out of 13,671 cryptocurrencies. Lido Staking Solana (STSOL) is the 193rd largest market cap and BLUNA is the 22nd largest as of Wednesday.

Statistics from Lido Finance were recorded on April 20, 2022.

While defillama.com notes that Lido’s TVL is $18.97 billion, it only accounts for four of the blockchains Lido uses for staking. Polygon is missing from defillama.com’s metrics, and according to Lido’s stats as of April 20, 2022, $19,220,700,179 is staked among 99,606 players. Lido stats show $10.6 billion from Ethereum, $8.21 billion from Terra, $363 million from Solana, $3.3 million from Kusama, and $13.8 million from the Polygon network.

3.9%, 23.9% APY, dependent on chain rewards and skipping validator locks

According to current staking estimates, Lido’s Ethereum staking solution is the lowest with an annual percentage return (APY) of 3.9%, while Kusama’s is the highest with 23.9% APY. While Lido is touted for its ability to double assets, there are some defi liquidity pool providers that receive the reward of Lido staking services, and Lido warns users that this may be the case.

A particular benefit of Lido is that users can skip the validator lock-up period (although there is a grace period) as they can sell their tied tokens on the open market. However, by choosing this route, the user loses the fee associated with the Dex swap and around 1-2% of the value depending on the tied token.

Lido Finance is considered a “staking company” and there are a number of staking companies in the industry. Today there are staking companies like Kyber Network, Celer Network, Blockdaemon and more. However, Lido today has a tremendous amount of value tied up across five different blockchains, and lately the total amount of assets staked has increased exponentially.

tags in this story

$19.2 Billion, Block Daemon, BLUNA, Bonding, Celer Network, Curve.finance, Decentralized Finance, DeFi, Dominance Assessment, ETH, Ethereum, Kusama, Kyber Network, Lido Finance, Lido Staking, Liquidity Pool Providers, Liquidity Pools, LP , LUNA, matic, Polygon, Solana, Staking Company, STLUNA, STSOL, Terra, Unbonding

What do you think of Lido liquid marking solution? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

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