{"id":320612,"date":"2023-06-15T19:00:56","date_gmt":"2023-06-15T13:30:56","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=320612"},"modified":"2023-06-15T11:56:39","modified_gmt":"2023-06-15T06:26:39","slug":"a-look-at-how-the-lido-protocol-benefits-from-steth","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/a-look-at-how-the-lido-protocol-benefits-from-steth\/","title":{"rendered":"A look at how the Lido protocol benefits from stETH"},"content":{"rendered":"<ul>\n<li><em>Lido&#8217;s stETH dominance in DeFi sector grows fast, potentially impacting the protocol&#8217;s success.<\/em><\/li>\n<li><em>Lido witnesses increased activity despite declining revenue.<\/em><\/li>\n<\/ul>\n<p>Amidst the volatile nature of the crypto market, Lido Finance&#8217;s [LDO] stETH has maintained consistent growth and garnered massive interest. <a href=\"http:\/\/ambcrypto.com\/predictions\/staked-ether-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">stETH<\/a>, a tokenized representation of staked ETH on the Ethereum 2.0 Beacon Chain, allows users to stake their ETH and receive stETH tokens in return.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/lido-dao-profit-calculator\" target=\"_blank\" rel=\"noopener\">Lido Profit Calculator<\/a><\/p>\n<hr \/>\n<h4>stETH witness growth<\/h4>\n<p>According to data provided by Parsec Finance, a crypto analytics firm, stETH&#8217;s dominance in the DeFi sector has been rising rapidly. Based on the data, DeFi leverage has largely been moving from ETH denominated to stETH denominated.<\/p>\n<figure id=\"attachment_320619\" aria-describedby=\"caption-attachment-320619\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu.png\"><img decoding=\"async\" class=\"wp-image-320619 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu.png\" alt=\"\" width=\"2560\" height=\"1269\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu-300x149.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu-1024x507.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu-768x381.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu-1536x761.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/FyhA0lJXsAsZqPu-2048x1015.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-320619\" class=\"wp-caption-text\">Source: Parsec Finance<\/figcaption><\/figure>\n<p>The rising demand for stETH could positively impact the state of the Lido protocol and help it retain its position as number one in terms of TVL in the DeFi market.<\/p>\n<p>The dominance of <a href=\"http:\/\/ambcrypto.com\/analyzing-lido-finances-ebb-and-flow-amid-market-unrest\/\" target=\"_blank\" rel=\"noopener\">Lido<\/a> in the DeFi sector can also be attributed to the high activity on the protocol. At press time, it had 141,620 daily active users. Lido saw a 23.8% surge in activity over the last month as well.<\/p>\n<p>Despite the surge in activity, the revenue generated continued to decline. Over the last month, Lido&#8217;s revenue fell by 13.7%.<\/p>\n<figure id=\"attachment_320620\" aria-describedby=\"caption-attachment-320620\" style=\"width: 2370px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM.png\"><img decoding=\"async\" class=\"wp-image-320620 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM.png\" alt=\"\" width=\"2370\" height=\"1138\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM.png 2370w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM-300x144.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM-1024x492.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM-768x369.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM-1536x738.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-15-at-10.17.02-AM-2048x983.png 2048w\" sizes=\"(max-width: 2370px) 100vw, 2370px\" \/><\/a><figcaption id=\"caption-attachment-320620\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<p>However, the declining revenue did not stunt the new projects on Lido&#8217;s governance. Multiple proposals were made over the past month, many of which were approved by an overwhelming majority.<\/p>\n<h4>New proposals<\/h4>\n<p>One of the proposals included the requirement to launch and fund the <a href=\"https:\/\/snapshot.org\/#\/lido-snapshot.eth\/proposal\/0xf36f00fb44644a24fb75889b5f92496b7f36eef70185bcff5b7ecfa2a781db6f\" target=\"_blank\" rel=\"noopener\">Community Lifeguards Initiative (CLI)<\/a>.<\/p>\n<p>The CLI aims to actively engage with new individual community stakers, and work to create knowledge bases and educational content. It also aims to help organize community initiatives, represent community operators in Lido DAO discussions and working groups, and provide information during Lido Node Operator community calls.<\/p>\n<p>This initiative showcases Lido&#8217;s commitment to fostering a vibrant and inclusive community, ensuring the longevity and growth of the protocol.<\/p>\n<p>Another <a href=\"https:\/\/snapshot.org\/#\/lido-snapshot.eth\/proposal\/0x5e9ffb74b7f0e026a898301a65302345fb6dc2e09f724b9c9bec2f35902c1324\" target=\"_blank\" rel=\"noopener\">proposal<\/a> aimed at charitable contributions from Lido stakers was also passed. This grant proposal enables stakers to pledge some or all of their staking rewards to projects that require ongoing funding.<\/p>\n<p>Projects might include initiatives from UNICEF, GiveDirectly, Save The Children, and other leading global organizations as well.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">here&#8217;s LDO&#8217;s market cap in BTC terms<\/a><\/p>\n<hr \/>\n<p>In terms of market performance, the LDO token was trading at $1.68 at press time, reflecting a 6.78% decline in the last 24 hours, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/lido-dao\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap&#8217;<\/a>s data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lido&#8217;s stETH dominance in DeFi is rapidly increasing, solidifying its position as the leading protocol. <\/p>\n","protected":false},"author":73,"featured_media":320621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[3537,3366],"class_list":["post-320612","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ldo","tag-lido"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A look at how the Lido protocol benefits from stETH - AMBCrypto<\/title>\n<meta name=\"description\" content=\"stETH becomes the token of choice for DeFi users looking to stake their assets. 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