Thread by @LouisN_LXXIV

Do you wonder what the On-chain data of the
@LidoStaking project is showing?

Thread 👇👇

#LIDO #LSD #Lidostaking

@LidoStaking 1/ Although narrative LSD is no longer hot, the projects in this area are still very active. Typically, LDO with the amount of ETH staking into the system has increased continuously and has not shown a downtrend. LDO is still the platform that attracts the most liquid-staking ETH

1.1/ On the LDO platform alone, the number of ETH being staking is more than 6.1 million, a significant number, especially after Lido Finance enabled ETH withdrawal after the V2 main net launch.

1.2/ Users on LDO after Shanghai have not yet been able to withdraw ETH, and after the successful launch of V2 on May 15, the amount of ETH staking remained high.

1.3/ Another bullish point for the LDO platform is its community. With the highest percentage of ETH staking in LSD projects, the community of LDO is veteran Defi holders.

1.4/ Most recently, on May 18, an ETH staker proposed the idea of sharing the administration of Lido's DAO treasury for ETH stakes. Specifically, this proposed level is from 20-50% of the value in Lido's DAO treasury - currently worth more than $250M at the time of writing.

1.5/ Furthermore, this staker also came up with an idea for a LidoDAO insurance fund with a level of 6000 stETH.

1.6/ If this reserve falls below 6000 stETH due to protocol issues, all staker revenue as outlined above will move from the Treasury to the insurance fund until a minimum reserve is established

1.7/ This can be said to be a bold idea that, if implemented, will be a long-term bullish force for LDO when the commitment to the community - the stakes will be tightened.

2/ Long-term bullish momentum for narrative Liquid Staking Derivatives as well as LDO:

2.1/ LSD is the solution to maximize the potential of staked Ethereum. This will help ETH holders actively participate in the Defi space

2.2/ Fully satisfy the ecosystem - projects - investors by ensuring Liquidity and Yield

2.3/ Previously LSD was just a game of veteran Defi players, but now more and more users realize the benefits of leveraging staked ETH to participate in other protocols, the aim is to maximize opportunities and profit.

3/ This is an overview of the @LidoStaking project and its development potential at the present time.

Part 2 will go deeper into the On-chain data analysis of this project.