Ethereum Burns, Axie's Inflection Point, DeFi Narratives
AUG 11, 2021 • 4 Min Read
Disclosure: Delphi Ventures and members of our team have invested in ETH, AXS, and LIDO. We have also done consulting work for Aave in the past. These statements are intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.
Key Takeaways
Lido’s stronghold over ETH 2.0 liquid staking grows by the day. Other competitors with the exception of SharedStake and Stakewise are growing as well — just not at the same pace as Lido.
A few weeks ago, Lido introduced a staking referral program similar to ones conducted by crypto exchanges. Referrals have historically proven to be an effective marketing tool in crypto and could have played a role in Lido’s recent growth.
Additionally, with Vitalik breaking down MEV and reorgs after the PoW/PoS merge, there’s belief that Lido could help facilitate a lot of MEV extraction given the number of validators the DAO will eventually work with.
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