Lido has seen an increase of about 100,000 staked Ethereum on its platform despite the SEC’s scrutiny of staking programs. Between June 24 and July 1, Lido users staked an additional 95,616 ETH, raising the platform’s total staked value by 1.26% to $33.48 billion.
During this period, Lido surpassed centralized exchanges like Binance and Gate.io in net Ethereum deposit inflows. The platform also reported a 7.19% increase in wrapped staked ETH (wstETH) on Layer 2 networks like Scroll, Base, Arbitrum, and Optimism, with a 7-day trading volume of $1.23 billion.
Lido is enhancing decentralization by launching a Community Staking Module (CSM) to integrate diverse Node Operators, including solo stakers. This module, currently in early adoption mode on the Holesky testnet, is set to become permissionless by July 11, 2024, making solo staking more accessible with low bond requirements and no secondary token collateral.
Although the APR for staked ETH decreased slightly to 2.96%, the move towards decentralization is strategically significant for Ethereum’s network resilience.
