Lido fundamentals shine even as the broader crypto market struggles to regain ground
Lido Protocol Generates $1M in Daily Fee Revenue for Nearly a Month Highlighting Its Number Growth of daily active users and Ethereum partners.
Market analysis
The crypto market had a turbulent few weeks after the collapse of FTX, but Lido Finance, a liquid staking protocol, was a bright spot amid the chaos. According to data from DeFiLlama, the Lido protocol has brought in $1 million or more in daily fees since October 26.
Lido fees and revenue over time. Lido has collected over $1 million in fees every day since October 26 pic.twitter.com/GHkzSzYIOo
— DefiLlama.com (@DefiLlama) November 18, 2022Let's analyze the fundamentals of the channel to see why this trend continues.
What is behind the growth of Lido Finance?Lido's growth started in May 2021, before FTX collapsed. Fees hit an all-time high on Nov. 10, with fee revenue nearly surpassing $2.6 million. The protocol earns 10% of the total Ethereum (ETH) staking rewards generated from user deposits.
The data also shows that a steady increase in Ethereum PoS consensus deposits results in an increase in Lido fee capture.
Total Lido deposits. Source: Dune AnalyticsLido fee revenue moves in parallel with Ethereum proof-of-stake (
Lido Protocol Generates $1M in Daily Fee Revenue for Nearly a Month Highlighting Its Number Growth of daily active users and Ethereum partners.
Market analysis
The crypto market had a turbulent few weeks after the collapse of FTX, but Lido Finance, a liquid staking protocol, was a bright spot amid the chaos. According to data from DeFiLlama, the Lido protocol has brought in $1 million or more in daily fees since October 26.
Lido fees and revenue over time. Lido has collected over $1 million in fees every day since October 26 pic.twitter.com/GHkzSzYIOo
— DefiLlama.com (@DefiLlama) November 18, 2022Let's analyze the fundamentals of the channel to see why this trend continues.
What is behind the growth of Lido Finance?Lido's growth started in May 2021, before FTX collapsed. Fees hit an all-time high on Nov. 10, with fee revenue nearly surpassing $2.6 million. The protocol earns 10% of the total Ethereum (ETH) staking rewards generated from user deposits.
The data also shows that a steady increase in Ethereum PoS consensus deposits results in an increase in Lido fee capture.
Total Lido deposits. Source: Dune AnalyticsLido fee revenue moves in parallel with Ethereum proof-of-stake (
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