2023-04-19
Blockchains are moving toward proof-of-stake mechanism. Ethereum changed to proof-of-stake in 2022. Liquid staking services like Lido Finance and Rocket Pool have been rapidly growing in 2023.
Lido
Lido Finance is a liquid staking
service that help people stake Ethereum without requirement to setting up and run
validator hardware. Lido Finance will stake ETH for the users and pay ETH earn
from transaction fees to the users. It does the work as node
validators for its users. Lido takes about 5% of the staking rewards.
Lido Finance is the leader in liquid
staking industry. Lido’s total staking in September 2022 was $6.72 billion. The
number of total staking has grown to 12.832 billion total staked tokens in April
2023. Lido supports 5 blockchains including Ethereum, Polygon, Solana,
Polkadot, and Kusama. LDO is currently the 32nd largest crypto by
market cap. LDO is worth $2.17 billion.
Note that LDO is a governance token. It
uses to vote on protocol change and
govern the Lido DAO treasury.
LDO Performance
LDO price on June 22, 2023 was $0.5442. LDO price on April 19, 2023 was $2.49. LDO price increased 357%.
Rocket Pool
Rocket Pool also provides liquid
staking service just like Lido. It is the 2nd largest staking
service platform after Lido Finance. Total ETH staking in Rocket Pool is
nearly $1 billion ($977,008,813).
Note that RPL is a governance token that uses in governance of the protocol and can also be staked on a Rocket Pool node
as a form of insurance.
RPL Performance
RPL price on June 22, 2023 was $1.767. RPL price on April 19, 2023 was $56.59. RPL price increased 3,102%.
Cryptocurrency exchanges such as
Coinbase and Binance also provide liquid staking service for their users.
Between June 22, 2023 and April 19,
2023 LDO price increased 357% and RPL price increased 3,102%. There is no doubt that
liquid staking tokens are among the best performing crypto in 2023.
