Lido 的以太坊質押主導地位在日益激烈的競爭中受到侵蝕

隨著競爭的加劇，Lido 在以太坊質押市場的份額已下降至 29.57%，緩解了人們對其對生態系統影響的擔憂。雖然 Lido 仍然是主要參與者，但 Coinbase 和 Binance 等交易所正在取得進展，而 Ether fi 和 Renzo Protocol 正在吸引尋求靈活重新抵押選項的質押者。

Lido's Ethereum Staking Dominance Wanes Amidst Rising Competition

Lido 的以太坊質押主導地位因競爭加劇而減弱

Lucknow, India (CoinChapter.com) - Lido Finance, the erstwhile behemoth of Ethereum liquid staking, has experienced a precipitous decline in its market share, falling below the 30% threshold amidst intensified competition.

印度勒克瑙（CoinChapter.com）—昔日以太坊流動性質押巨頭 Lido Finance 的市佔率在激烈的競爭中急劇下降，跌破 30% 的門檻。

As of April 4, 2024, Dune Analytics data reveals Lido's Ethereum staking market share has plummeted to 29.57%, a significant drop from its peak of 32% in December 2023. This decline assuages concerns within the Ethereum community regarding Lido's growing influence on the network's ecosystem.

截至2024 年4 月4 日，Dune Analytics 數據顯示Lido 的以太坊質押市場份額已驟降至29.57%，較2023 年12 月的峰值32% 大幅下降。這一下降緩解了以太坊社區對Lido 對網絡影響力日益增長的擔憂。生態系統。

While Lido remains a formidable player, other entities are making strategic inroads into the Ethereum staking arena. Crypto behemoths Coinbase and Binance have captured 14.04% and 3.75% of the staked ETH market share, respectively. Additionally, Ethereum staking platform Kiln accounts for 3.5% of the market.

儘管 Lido 仍然是一個強大的參與者，但其他實體正在戰略性地進入以太坊質押領域。加密巨頭 Coinbase 和 Binance 分別佔了 ETH 質押市佔率的 14.04% 和 3.75%。此外，以太坊質押平台 Kiln 佔據了 3.5% 的市場份額。

Intriguingly, the second-largest entity in ETH staking remains shrouded in anonymity, commanding a substantial 16.9% market share. In total, 26 known entities contribute to Ethereum staking, including reputable exchanges such as Kraken (2.4%), Bitcoin Suisse (1.6%), OKX (1.2%), and Upbit (1.1%).

有趣的是，ETH 質押領域的第二大實體仍然處於匿名狀態，佔據 16.9% 的市佔率。總共有 26 個已知實體為以太坊質押做出了貢獻，其中包括 Kraken (2.4%)、Bitcoin Suisse (1.6%)、OKX (1.2%) 和 Upbit (1.1%) 等信譽良好的交易所。

Lido's Ethereum Staking: Navigating Decentralization Concerns

Lido 的以太坊質押：解決去中心化問題

Lido's previous dominance in Ethereum staking raised concerns within the Ethereum community. An entity controlling over 33% of the market could potentially exert undue influence over the Ethereum chain. To address these apprehensions, Ethereum co-founder Vitalik Buterin proposed limiting stake pools to a maximum of 15% control and adjusting fee rates accordingly.

Lido 先前在以太坊質押領域的主導地位引起了以太坊社區的擔憂。控制超過 33% 市場的實體可能會對以太坊鏈施加不當影響。為了解決這些擔憂，以太坊聯合創始人 Vitalik Buterin 提議將權益池的控制權限制在最多 15%，並相應調整費率。

In May 2022, the Lido DAO community considered imposing a hard limit to curb the dominance issue. However, the proposal was overwhelmingly rejected with a 99.81% vote in June 2022. The Lido DAO community opted against self-limitation.

2022 年 5 月，Lido DAO 社群考慮實施硬性限制來遏制支配問題。然而，該提案在 2022 年 6 月以 99.81% 的投票率被壓倒性否決。Lido DAO 社區選擇了不自我限制。

Ether fi and Renzo Protocol: Stealing the Spotlight

Ether fi 和 Renzo 協議：搶盡風頭

Ethereum stakers are increasingly flocking to platforms that offer liquid restaking options. Among these platforms, Ether fi and Renzo Protocol have emerged as formidable competitors to Lido. Ether fi has amassed a remarkable 400,000 staked Ether, while Renzo Protocol has attracted over 280,100 staked Ether.

以太坊質押者越來越多地湧向提供流動性重新質押選項的平台。在這些平台中，Ether fi 和 Renzo Protocol 已成為 Lido 的強大競爭對手。 Ether fi 已經累積了驚人的 400,000 個質押以太幣，而 Renzo Protocol 則吸引了超過 280,100 個質押以太幣。

Ether fi boasts a total value locked (TVL) of $3.1 billion, while investments in Renzo Protocol have surpassed $2.1 billion. Collectively, these protocols have locked over $8 billion in user funds.

Ether fi 的鎖定總價值 (TVL) 為 31 億美元，而 Renzo Protocol 的投資已超過 21 億美元。這些協議總共鎖定了超過 80 億美元的用戶資金。

The shift of Ethereum staking from Lido to Ether fi and Renzo Protocol highlights the growing popularity of Eigenlayer's technology. These liquid restaking protocols utilize the Eigenlayer framework, which enables Ethereum stakers to participate in various networks while leveraging their staked ETH.

以太坊質押從 Lido 轉向 Ether fi 和 Renzo 協議凸顯了 Eigenlayer 技術的日益普及。這些流動性重新質押協議利用 Eigenlayer 框架，使以太坊質押者能夠參與各種網絡，同時利用其質押的 ETH。

Risks and Opportunities in Ethereum Restaking

以太坊重新抵押的風險與機遇

As competition in the ETH staking market intensifies, the issuance of liquid restaking tokens (LRTs) has emerged as a potential concern. A recent Coinbase report cautions that restaking protocols like Eigenlayer could amplify risks by allocating funds to similar validators for higher yields.

隨著 ETH 質押市場競爭的加劇，流動性再質押代幣（LRT）的發行已成為一個潛在的問題。 Coinbase 最近的一份報告警告說，像 Eigenlayer 這樣的重新抵押協議可能會透過將資金分配給類似的驗證器以獲得更高的收益來放大風險。

The report warns that while restaking can augment earnings, LRTs may be incentivized to maximize yields at the expense of hidden risks. As such, LRTs may prioritize short-term gains over the long-term safety of the Ethereum network.

該報告警告說，雖然重新抵押可以增加收益，但輕軌可能會被激勵以犧牲隱藏風險為代價來最大化收益。因此，LRT 可能會優先考慮短期收益，而不是以太坊網路的長期安全。

Conclusion

結論

Lido's dwindling market share reflects the burgeoning competition in the Ethereum staking landscape. While Lido remains a prominent player, platforms like Ether fi and Renzo Protocol are gaining traction by offering innovative liquid restaking options. However, market participants should be cognizant of the potential risks associated with LRTs and prioritize the long-term security of the Ethereum network.

Lido 市場佔有率的下降反映出以太坊質押領域的競爭日益激烈。雖然 Lido 仍然是一個重要的參與者，但 Ether fi 和 Renzo Protocol 等平台透過提供創新的流動性重新抵押選項而獲得了關注。然而，市場參與者應該認識到與輕軌相關的潛在風險，並優先考慮以太坊網路的長期安全。