staking mechanism. These entities allow users to directly participate in staking while also maintaining the ability to use them elsewhere in DeFi for higher yield opportunities. The prospect of amplifying their rewards drove many users to the disruptive world of liquid staking.
As per DeFiLlama, Liquid staking alone constituted 32% of the total assets locked in DeFi at the time of publication.remained head and shoulders above its competitors in the burgeoning landscape, capturing a mammoth 74% market share. Notably, the largest liquid staking protocol increased its market share in 2023. The execution of Ethereum’s Shapella hard fork potentially played a significant role.
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