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Lido Finance Retains Top Spot with $7.92B TVL: Staking APR on Decline

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• Lido Finance (Lido) remains the leading DeFi project with the highest Total Value Locked (TVL) of $7.92 billion.
• Its share of the ETH staking market is 29.36%, however its APR has been steadily declining since May 2022, currently at 4.79%.
• The Ethereum network’s Shanghai Upgrade and demand for stETH, a tokenized version of staked Ether native to Lido, has contributed to an increase in its TVL and revenue growth on the network.

Lido Finance Leads DeFi Market

Lido Finance (Lido) remains the number one decentralized finance (DeFi) project with a total value locked (TVL) of $7.92 billion, representing 16.77% of all crypto assets locked on DeFi protocols which is worth $47.2 billion in total. This places Lido firmly at the top spot, overtaking MakerDAO which has a TVL of $7.09 billion as of press time.

ETH Staking Market Share

According to data from Dune Analytics, Lido’s market share in terms of ETH staking was 29.36%. This figure has been oscillating between 29.25% and 29.37% so far this year, showing consistency in its position as the most sought after platform for ETH stakers.

Declining Annual Percentage Rate

The annual percentage rate (APR) offered by Lido for ETH stakers has been steadily declining since reaching an all-time high of 10.21% on 14 November 2022; it is currently 4.79%. Despite this decrease in APR, demand for LDO’s tokenized version of Staked Ether (stETH), continues to increase; this further solidifies its position as the project with largest TVL among other DeFi projects.

Confirmation Of March Date For Shanghai Upgrade

The confirmation that March will be when Ethereum undergoes its Shanghai Upgrade could also be a factor contributing to increased assets locked on Lido’s platform and potentially higher demand for stETH tokens; this would lead to greater revenue generation on their network according to Token Terminal data analysis report published recently in December 2021 by blockchain analytics platform Nansen .


In conclusion, despite declining APR rates being offered by Lido for ETH stakers; overall it still remains highly sought after due to potential yield-generating services and increased demand for its native token – Staked Ether (stETH). Additionally, Ethereum undergoing Shanghai Upgrade could also play a role in increasing assets locked on their platform and thus creating more revenue generating opportunities through their services – thus solidifying it’s place as one if not the main leader within DeFi space regarding TVL values amongst other metrics

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