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Lido Rides Liquid Staking Wave to Become Largest DeFi Protocol

January 10, 2023

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News

Ethereum Staking

Lido Rides Liquid Staking Wave To Become Largest DeFi Protocol

LDO, RPL, FXS and SWISE Outperform Broader Markets

By Aleksandar Gilbert

LSDRally

Lido Finance briefly topped Maker as the largest DeFi protocol this week amid surging interest in liquid staking protocols.

Read the full story in The Defiant

Ethereum Staking

Ethereum Devs Prime Beacon for ETH Withdrawal

ETH Stakers May Be Able to Initiate Withdrawals in March

By Samuel Haig

DelioInstitutionalStaking 1

Stakers may soon be able to withdraw Ether from the Beacon chain, with Ethereum’s devs aiming to deliver the long-awaited upgrade this quarter.

Read the full story in The Defiant

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Market Action

Crypto Kicks Off The Week With Broad-Based Rally

Layer 1 Tokens Outperform

By Aleksandar Gilbert

Sminem MarketsUP

Crypto markets are building on the momentum from last week, with most top-20 tokens by market capitalization posting gains over the past 24 hours.

Read the full story in The Defiant

EVM

EIP-5988 Poised To Improve ZK-Rollups’ Compatibility With Ethereum

Vitalik Emphasizes Need For Stability Of Ethereum’s Virtual Machine

By Samuel Haig

EIP5988

In a development that may reduce the costs of scaling up Ethereum, momentum is gathering behind a new plan for improving the interoperability between the Ethereum Virtual Machine (EVM) and ZK-powered rollups.

Read the full story in The Defiant

DeFi Protocols

Yearn Finance Releases Permissionless Vault Factory

Factory Vaults To Include Preset Strategies and Reduced Fees

By Owen Fernau

YearnPermissionlessVaultFactory

As DeFi winter grinds on, Yearn Finance, one of the space’s most venerable protocols and a pioneer of yield aggregation with $363M in total value locked, continues to push forward with its roadmap.

Read the full story in The Defiant

Crypto Stress

Withdrawals and Layoffs at Huobi Spark Concern

Solvency Fears Mount At Yet Another Centralized Exchange

By Owen Fernau

HuobiInTrouble

Alongside a slew of rumors, a spike in withdrawals from Huobi, a top-ten crypto exchange by volume, are raising doubts that yet another centralized exchange is on shaky financial footing.

Read the full story in The Defiant

Blockchain Messaging

L2BEAT Report Takes Aim At LayerZero’s Security Model

Cross-Chain Protocol Dismisses Claims

By Owen Fernau

L2BEATLayerZeroNotSoTrustless

LayerZero, a protocol which enables messaging across blockchains and is used by applications entrusted with hundreds of millions of dollars, drew scrutiny on Jan. 5 for a purported security flaw.

Read the full story at The Defiant

Defiant Video

Daily Defiant

Ethereum’s Shanghai Upgrade is coming

Weekly Recap

The New Year Opened With a Market Surprise and a Tightening Crackdown

Podcast Archive

Ali Yahya of a16z: “We’ve Entered The Golden Era Of Blockchain Applications”

DeFi Explainers

What Are DeFi Derivatives?

A Primer on High-Risk Instruments Used in Decentralized Finance

By Rahul Nambiampurath

WhatAreDeFiDerivs

As their name suggests, derivatives are financial instruments that enable investors to bet on the behavior of underlying assets, whether they are stocks, bonds, commodities, or cryptocurrencies.

Read the full explainer in The Defiant