{"id":82725,"date":"2023-08-07T16:20:07","date_gmt":"2023-08-07T13:20:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82725"},"modified":"2025-09-12T06:49:14","modified_gmt":"2025-09-12T03:49:14","slug":"lido-reports-growth-in-tvl-and-impressive-protocol-adoption","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lido-reports-growth-in-tvl-and-impressive-protocol-adoption\/","title":{"rendered":"Lido reports growth in TVL and ‘impressive’ protocol adoption"},"content":{"rendered":"

Total value locked (TVL) of the liquid staking<\/a> protocol from Lido Finance surpassed $15 billion in July, but later declined slightly amid a fall in Ethereum’s price. This was disclosed by the platform’s representatives in a monthly report<\/a>.<\/p>\n

\"Page1-6-1\"
Key metrics for Lido. Data: Lido blog.<\/figcaption><\/figure>\n
\n

“Despite the activation of withdrawals from Ethereum staking<\/a> at the start of this year, the protocol has consistently experienced a large monthly net inflow of deposits. As a result of this continual growth, the platform appears poised to surpass the 8 million ETH threshold next month,” the report says.<\/p>\n<\/blockquote>\n

According to developers, more than 10,000 new users joined Lido in July, nearly 50% higher than in the previous month, reflecting impressive growth of the protocol and market demand.<\/p>\n

During the period, the service sent 40 wrapped<\/a> stETH (wstETH) as rewards to stablecoin liquidity platforms and to the L2<\/a> network on Optimism.<\/p>\n

StETH reserves in the protocol’s treasury rose by 4% \u2014 from 33 079 to 34 415 tokens. Meanwhile the volume of “stablecoins” DAI declined by 15%, to $7.22 million.<\/p>\n

Lido noted that demand for wstETH on Layer 2 networks rose by 12.8%. Deposits of the wrapped asset on Arbitrum and Optimism bridges increased by 16.58% and 10.23%, respectively.<\/p>\n

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stETH metrics. Data: Lido blog.<\/figcaption><\/figure>\n
\n

“Although the Curve Finance exploit<\/a> last week did not affect the stETH-ETH pool, many liquidity providers nevertheless chose to withdraw their stETH assets until the issue is resolved,” the platform’s representatives added.<\/p>\n<\/blockquote>\n

According to the Dune dashboard, Dune<\/a>, Lido accounts for about 32% of the Ethereum staking market. In total, 249,000 validators are active on the platform.<\/p>\n

\"Snimok-ekrana-2023-08-07-v-16.00.19\"
Market share of Ethereum staking. Data: Dune.<\/figcaption><\/figure>\n

Earlier, Glassnode analysts said that following the activation of the Shanghai upgrade<\/a> on the network of the second-largest cryptocurrency, inflows to liquid staking protocols led by Lido Finance have intensified.<\/p>\n","protected":false},"excerpt":{"rendered":"

Total value locked in the Lido Finance liquid staking protocol exceeded $15 billion in July, but later eased slightly as Ethereum’s price fell.<\/p>\n","protected":false},"author":1,"featured_media":82726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,46,1387],"class_list":["post-82725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-ethereum","tag-lido"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82725"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82725\/revisions"}],"predecessor-version":[{"id":82727,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82725\/revisions\/82727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82726"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}