DeFi & L1L2 Weekly – 🏇 The landscape of liquid staking on Solana has shifted; DTCC & Chainlink completed a pilot …
DeFi & L1L2 Weekly – 🏇 The landscape of liquid staking on Solana has shifted; DTCC & Chainlink completed a pilot programThe landscape of liquid staking on Solana has shifted. ZkSync announces the final upgrade before it hands over the governance to the community. LayerZero concluded the sybil self-reporting phase.
Weekly DeFi IndexThis week's market capitalisation, volume, and volatility indices were all positive at +24.25%, +69.40%, and +242.68% respectively. The surge of all indices was led by Lido (LDO) and Chainlink (LINK).
Chart of the WeekThe landscape of liquid staking on Solana has changed since 2023 and the competition among liquid staking tokens (LST) protocols is exhibiting a ‘winner-take-all’ pattern. Currently, Jito (jitoSOL) dominates the LST market with almost half (48%) of the share due to its strategic use of Maximal Extractable Value (MEV). New players like BlazeStake (bSOL) also showed significant growth, possessing 12% of the market share. Meanwhile, the traditional player Marinade (mSOL) has fallen consistently but still maintains a 28% share. However, liquid staking on Solana only accounts for 5.3% of the total staking supply, lagging behind Ethereum (32.7%), where liquid staking is more widely adopted. This is due to differences in the staking mechanisms and value propositions between the two blockchains. News Highlights
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