Lido, the leading decentralised finance protocol (DeFi) in terms of TVL, has announced that it surpassed $15 billion in total locked value in July, onboarding more than 10,000 new unique depositors over the period. This represents growth of more than 50% on the previous month. Soon to be 8 million ETH stakes
Lido still the leader in ETH staking
Lido, the largest decentralised finance protocol (DeFi) in terms of total value locked up, has just released its latest monthly report for July. In it, we learn that the protocol has once again surpassed $15 billion in TVL, something that has not happened since May 2022, when Ether exceeded $2,700 before the collapse of Terra (LUNA).
Lido, which is best known for offering an Ether staking service, highlighted the “remarkable adoption” of its protocol, with more than 10,000 new unique depositors over the month. This represents growth of over 50% on the previous month, bringing its total number of unique ETH depositors to over 167,000.
Lido’s performance on various metrics from June to July
This performance is all the more encouraging as Ether staking is progressing even though withdrawals were activated last May. Since then, Lido’s TVL has only increased
Lido TVL evolution since the beginning of 2023
As a result of these encouraging figures, Lido expects to exceed 8 million ETH stored on its protocol for the month of August. This success is partly due to the stETH that can be obtained in exchange for the ETH deposited, which makes it possible to implement interesting return strategies.
