Lido Finance Surpasses MakerDAO as the DeFi Leader in Total Value Locked
Lido Finance, a decentralized finance (DeFi) protocol, has seen its total value locked (TVL) rise to the top since Ethereum’s merger in September. As of now, Lido’s liquid staking protocol has a total market cap of $5.96 billion in TVL, surpassing both MakerDAO’s $5.91 billion and AAVE’s $3.26 billion, according to DeFiLlama. Lido’s approach eliminates the need for users to put up the standard 32 ETH minimum to participate in liquid Ether staking, which has made it popular in the wake of Ethereum’s move to proof-of-stake. Data analytics firm Nansen found that staking solutions like Lido’s have been in high