🌻 LSTfi Blooms: DeFi Week of May 28

The Defiant

Weekly Recap

Happy weekend Defiers!

This week, we dived into the frothy LSTfi sector. Liquid Staking Tokens now represent close to half of all staked Ether, meaning LSTfi is potentially a $17B market. New protocols combining LST with DeFi money legos are proliferating quickly, offering a variety of strategies for generating yield in addition to staking rewards.

Rocket Pool, the second-largest LST provider, is actively seeking out new DeFi integrations in its quest to eat into the dominance of its goliath rival Lido. Rocket Pool launched its LST token on the booming Layer 2 network ZkSync Era on Thursday, plugging rETH into Era’s $375M DeFi ecosystem.