Ethereum Liquid Staking Trend Continues to Swell
It’s no secret that Ethereum’s DeFi (Decentralized Finance) and staking market has been growing at an ever increasing rate. With the emergence of staking platforms, users have been able to capitalize on the growth of the Ethereum blockchain, earning rewards for providing value to the network in the form of liquidity staking. In the past two years, Ethereum liquid staking has become a hot commodity, and now, only five platforms are in control of a massive 97% of the market.
The Big Five
At the top of this list comes Ethereum’s own staking platform, Launchpad. It’s quickly become the most popular platform for Ethereum liquid stakers, and as of October 2020 controls almost 30% of the market. Next up is TRON’s Tether, which accounts for nearly 20%. Then comes Aave, Curve Finance, and Maker all tied for third, with a combined 20% share of the market.
Keepin’ it in the Family
Most of these big five platforms have their own unique features, but they all use the same underlying technology, Ethereum. This means that they all benefit from the same underlying features and incentives, while still providing a unique user experience. This is why so many stakers are choosing to stake their money on the big five – they can take advantage of the same mission to secure the network while also enjoying a unique and tailored user experience.
The Hidden Gems
Of course, the big five are not the only options out there for Ethereum liquid stakers. There are also several hidden gems in the ecosystem that might not have the same market share, but do provide a unique user experience designed for a specific purpose. For example, there are platforms like Snowball Finance and DvP Protocol, which are designed for low-risk staking. These two platforms combined account for just 1% of the market, but that doesn’t mean they are not worth the investment.
At the End of the Day…
The Ethereum liquid staking trend shows no signs of slowing down, and the big five platforms continue to dominate the market. However, it’s worth noting that there are still plenty of hidden gems out there that offer unique features and tailored user experiences. No matter which platform you choose, staking your ETH tokens is always a great way to earn rewards and further the Ethereum mission.
Now go forth and stake away!
