<\/p>\n
Lido’s staked Ether dominance has trended down since early December.<\/p>\n
Lido\u2019s staking dominance has fallen in recent weeks despite continued inflows to the controversial Layer 2 network, Blast.<\/p>\n
According to Dune Analytics, Lido currently controls\u00a031.8%<\/a>\u00a0of the staked Ether supply, down from more than 32.3% three weeks ago. Daily\u00a0tweets<\/a>\u00a0from the LidoDominance X account show Lido\u2019s dominance steadily falling since tagging a local high on Dec. 5.<\/p>\n Lido\u2019s diminishing command over the supply of staked Ether follows renewed scrutiny from Ethereum decentralization devotees who feared that the rising value of assets locked in Blast, a forthcoming Layer 2 network, could push Lido\u2019s dominance above one-third.<\/p>\n Blast burst onto the scene in late November, announcing it would\u00a0reward<\/a>\u00a0early depositors with native yields in the form of staking rewards via Lido or stablecoin interests via MakerDAO, in addition to Blast \u201cpoints.\u201d The airdrop campaign attracted a\u00a0surge in deposits<\/a>\u00a0despite the assets being locked until Blast\u2019s mainnet deployment, which is currently slated to take place in February.<\/p>\n <\/p>\n Blast\u2019s early success came to the chagrin of many Ethereum\u2019s, with analysts blaming Blast for Lido\u2019s dominance crossing back above the 32% threshold for the first time since\u00a0Oct. 12<\/a>. Ethereum researchers have frequently warned that a single entity controlling more than a third of staked Ether could threaten to undermine the network\u2019s decentralization.<\/p>\n However, Lido\u2019s dominance has since retraced despite Blast\u2019s total value locked (TVL) rallying to new heights this week. A $54M inflow pushed Blast\u2019s TVL to $1.12B on Dec. 29 after a $50M inflow pushed the protocol\u2019s TVL above $1B for the first time on Dec. 26, according to DeFi Llama. Blast\u00a0tweeted<\/a>\u00a0that nearly 86,000 users have deposited assets onto the network.<\/p>\n Lido’s staked Ether dominance has trended down since early December. Lido\u2019s staking dominance has fallen in recent weeks despite continued inflows to the controversial Layer 2 network, Blast. According to Dune Analytics, Lido currently controls\u00a031.8%\u00a0of the staked Ether supply, down from more than 32.3% three weeks ago. Daily\u00a0tweets\u00a0from the LidoDominance X account show Lido\u2019s dominance […]<\/p>\n","protected":false},"author":2,"featured_media":224389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-224388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=224388"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224388\/revisions"}],"predecessor-version":[{"id":224391,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224388\/revisions\/224391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/224389"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=224388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=224388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=224388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}