{"id":533755,"date":"2023-01-02T09:08:28","date_gmt":"2023-01-02T06:08:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/lido-overtakes-makerdao-and-now-has-the-highest-tvl-in-defi\/"},"modified":"2023-01-02T09:08:28","modified_gmt":"2023-01-02T06:08:28","slug":"lido-overtakes-makerdao-and-now-has-the-highest-tvl-in-defi","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/lido-overtakes-makerdao-and-now-has-the-highest-tvl-in-defi\/","title":{"rendered":"# Lido overtakes MakerDAO and now has the highest TVL in DeFi"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a418d6eebdb4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a418d6eebdb4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/lido-overtakes-makerdao-and-now-has-the-highest-tvl-in-defi\/#%E2%80%9D_Lido_overtakes_MakerDAO_and_now_has_the_highest_TVL_in_DeFi_%E2%80%9C\" >&#8221; Lido overtakes MakerDAO and now has the highest TVL in DeFi &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Lido_overtakes_MakerDAO_and_now_has_the_highest_TVL_in_DeFi_%E2%80%9C\"><\/span>&#8221; Lido overtakes MakerDAO and now has the highest TVL in DeFi &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvODQ4YmFiZDQtYWVhMi00NjRlLWE1ZGMtNTlmNzdiN2Q2NTc0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ed77c39>Liquid staking protocol Lido Finance <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols.<\/p>\n<p>According to data from DeFiLlama, Lido\u2019s liquid staking protocol now commands $5.9 billion in TVL, compared to MakerDAO&#8217;s $5.89 billion and AAVE\u2019s $3.7 billion. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Lido now has the highest TVL of any DeFi protocol. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/2xsM3lVGVl\">pic.twitter.com\/2xsM3lVGVl<\/a><\/p>\n<p>\u2014 Patrick | Dynamo DeFi (@Dynamo_Patrick) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Dynamo_Patrick\/status\/1609650498688241664?ref_src=twsrc%5Etfw\">January 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>According to Lido Finance\u2019s<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/lido.fi\/\"> website<\/a>, as at Jan. 2 had $5.8 billion Ether (ETH) staked. Meanwhile, there was around $23.2 million staked in Solana (SOL), $43.9 million in Polygon (MATIC), $11 million in Polkadot (DOT) and $2.2 million in Kusama (KSM). <\/p>\n<p>Lido\u2019s model allows users access to liquid Ether staking without committing to the traditional 32 ETH minimum.<\/p>\n<p>Blockchain data analytics from Nansen in December noted that staking solutions such as these had been in high demand since Ethereum\u2019s shift to proof-of-stake. <\/p>\n<p>It\u2019s report highlighted the impact of the Merge in introducing staked ETH as an out-and-out cryptocurrency-native yield-bearing instrument that has quickly outs<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>ped other collateralized yield-bearing services.<\/p>\n<p>Lido appears to have benefitted from this, as its fee revenue has been directly proportional to Ethereum Proof-of-stake (PoS) earnings since Lido sends received Ether to the staking protocol.<\/p>\n<p>In Nov. 2022 that Lido said it has been collecting $1 million in fees every day since Oct. 2022.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>5 altcoin projects that made a real difference in 2022<\/em><\/strong><\/p>\n<p>Meanwhile, the governing body of the Maker protocol MakerDAO saw its revenue decline to just over $4 million in Q3, a 86% plunge from the previous quarter according to a Messari statement in Sept. 2022, citing few liquidations and weak loan demand as the reasons for the decline.<\/p>\n<p>In that same month, Lido held the most amount of staked ETH amongst DeFi, with 31% according to Nansen in September, which is a significant amount compared to major crypto exchanges Coinbase and Kraken, holding 15% and 8.5% respectively.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/lido-overtakes-makerdao-and-now-has-the-highest-tvl-in-defi\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Lido overtakes MakerDAO and now has the highest TVL in DeFi &#8220; Liquid staking protocol Lido Finance appears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols. According to data from DeFiLlama, Lido\u2019s liquid staking&#8230;<\/p>\n","protected":false},"author":1,"featured_media":533756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/848babd4-aea2-464e-a5dc-59f77b7d6574.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74983,74868,74891,107545,74939,74876,133582,73785],"class_list":["post-533755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-decentralization","tag-defi","tag-ethereum","tag-liquidity","tag-market-analysis","tag-proof-of-stake","tag-staking","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/533755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=533755"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/533755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/533756"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=533755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=533755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=533755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}