Ethereum

Rule

Evan

The rapid growth of <a target="_blank" href="https://tokeninsight.com/en/coins/lido-dao-token/overview">Lido Finance</a>, a liquid staking solution, has raised concerns within the Ethereum community as it now represents approximately one-third of the total Ethereum (ETH) staked. Some community members are apprehensive about the increasing influence of Lido, arguing that it is eroding the decentralized nature of Ethereum as a whole.
Evan Van Ness, Ethereum's Chief Decentralization Officer, expressed his concerns on Twitter, stating, "Lido may be the biggest attack on Ethereum's decentralization ('credible neutrality') in our entire history."
<img src="https://s2.tokeninsight.com/static/calendar/img202309041133497e32b92d-5f14-4883-ac7d-bd34c1b0fef0.jpg">
Over the past year, the amount of ETH staked has surged by nearly 95%, climbing from just over $22 billion to approximately $41.6 billion, as reported by Dune Analytics. Among this substantial amount, Lido now accounts for a substantial 32.37% of all staked ETH in the market, which is nearly four times higher than the second-place runner-up, Coinbase, with an 8.7% share.
Last week, five <a target="_blank" href="https://tokeninsight.com/en/news/ethereum-liquid-staking-protocols-impose-self-limiting-rule-on-market-share">Ethereum Liquid Staking Protocols Impose Self-Limiting Rule on Market Share</a>. However, Lido Finance community has been against this kind of self-liming proposal since last year. The community voted not to self-limit back last June with over 99% approval rate.
<img src="https://s2.tokeninsight.com/static/calendar/img20230904113514247b44ae-5e91-4cd2-97eb-9ad373461811.jpg">
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Lido Finance Market Share to Reach 33%, Raising Ethereum Centralization Risk Concern

TokenInsight

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