Lido, the new king of DeFi? As per this development, the answer is…
January 18, 2023
By Suzuki Shillsalot
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Lido protocol showed significant growth in TVL and APR.
Despite improvements, concerns about sustainability remained.
The Lido [LDO] protocol made massive improvements in its performance over the last few months. According to Lido’s tweet on 17 January, the protocol observed growth in areas such as Total Value Locked (TVL) and Annual Percentage Rate (APR). This growth in performance indicated the increasing popularity and adoption of the Lido protocol among the crypto community.
Lido leads the way
A key area of growth for the Lido protocol was its TVL, which grew due to an increase in both the price of the native LDO tokens and staking deposits. Over the past seven days, its TVL grew by 22.03%, suggesting that more users were participating in the Lido protocol and locking up their assets to earn rewards.
Lido protocol’s APR also increased from 5.2% to 5.6% in the last seven days. This growing APR, coupled with the growing TVL, suggested that Lido was becoming more attractive to users as it offered higher returns on their staked assets. The APR increase may be due to the growth in the number of stakers and liquidity providers in the ecosystem.
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