The crypto market has witnessed a turbulent few weeks after the FTX collapse but Lido Finance, a liquid staking protocol, has been a bright spot amidst the chaos.
According to Data from DeFiLlama, Lido protocol has earned $1 million or more in fees daily since October 26. Lido fees and revenue over time.
Lido has collected over $1M in fees every day since October 26th pic.twitter.com/GHkzSzYIOoLet’s analyze the on-chain fundamentals to see why this trend has continued.
Lido’s growth started in May 2021, pre-FTX collapse. The fees reached an all-time high on Nov. 10 as fee revenue nearly topped $2.6 million.Read more on cointelegraph.com