Lido 的以太坊质押主导地位在日益激烈的竞争中受到侵蚀

随着竞争的加剧，Lido 在以太坊质押市场的份额已下降至 29.57%，缓解了人们对其对生态系统影响的担忧。虽然 Lido 仍然是主要参与者，但 Coinbase 和 Binance 等交易所正在取得进展，而 Ether fi 和 Renzo Protocol 正在吸引寻求灵活重新抵押选项的质押者。

Lido's Ethereum Staking Dominance Wanes Amidst Rising Competition

Lido 的以太坊质押主导地位因竞争加剧而减弱

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）——昔日以太坊流动性质押巨头 Lido Finance 的市场份额在激烈的竞争中急剧下降，跌破 30% 的门槛。

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 数据显示 Lido 的以太坊质押市场份额已骤降至 29.57%，较 2023 年 12 月的峰值 32% 大幅下降。这一下降缓解了以太坊社区对 Lido 对网络影响力日益增长的担忧。生态系统。

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.

尽管 Lido 仍然是一个强大的参与者，但其他实体正在战略性地进军以太坊质押领域。加密巨头 Coinbase 和 Binance 分别占据了 ETH 质押市场份额的 14.04% 和 3.75%。此外，以太坊质押平台 Kiln 占据了 3.5% 的市场份额。

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 质押领域的第二大实体仍然处于匿名状态，占据着 16.9% 的市场份额。总共有 26 个已知实体为以太坊质押做出了贡献，其中包括 Kraken (2.4%)、Bitcoin Suisse (1.6%)、OKX (1.2%) 和 Upbit (1.1%) 等信誉良好的交易所。

Lido's Ethereum Staking: Navigating Decentralization Concerns

Lido 的以太坊质押：解决去中心化问题

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 之前在以太坊质押领域的主导地位引起了以太坊社区的担忧。控制超过 33% 市场的实体可能会对以太坊链施加不当影响。为了解决这些担忧，以太坊联合创始人 Vitalik Buterin 提议将权益池的控制权限制在最多 15%，并相应调整费率。

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 社区考虑实施硬性限制来遏制支配问题。然而，该提案在 2022 年 6 月以 99.81% 的投票率被压倒性否决。Lido DAO 社区选择了不自我限制。

Ether fi and Renzo Protocol: Stealing the Spotlight

Ether fi 和 Renzo 协议：抢尽风头

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.

以太坊质押者越来越多地涌向提供流动性重新质押选项的平台。在这些平台中，Ether fi 和 Renzo Protocol 已成为 Lido 的强大竞争对手。 Ether fi 已经积累了惊人的 400,000 个质押以太币，而 Renzo Protocol 则吸引了超过 280,100 个质押以太币。

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 的锁定总价值 (TVL) 为 31 亿美元，而 Renzo Protocol 的投资已超过 21 亿美元。这些协议总共锁定了超过 80 亿美元的用户资金。

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.

以太坊质押从 Lido 转向 Ether fi 和 Renzo 协议凸显了 Eigenlayer 技术的日益普及。这些流动性重新质押协议利用 Eigenlayer 框架，使以太坊质押者能够参与各种网络，同时利用其质押的 ETH。

Risks and Opportunities in Ethereum Restaking

以太坊重新抵押的风险和机遇

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.

随着 ETH 质押市场竞争的加剧，流动性再质押代币（LRT）的发行已成为一个潜在的问题。 Coinbase 最近的一份报告警告说，像 Eigenlayer 这样的重新抵押协议可能会通过将资金分配给类似的验证器以获得更高的收益来放大风险。

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.

该报告警告说，虽然重新抵押可以增加收益，但轻轨可能会被激励以牺牲隐藏风险为代价来最大化收益。因此，LRT 可能会优先考虑短期收益，而不是以太坊网络的长期安全。

Conclusion

结论

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 市场份额的下降反映出以太坊质押领域的竞争日益激烈。虽然 Lido 仍然是一个重要的参与者，但 Ether fi 和 Renzo Protocol 等平台通过提供创新的流动性重新抵押选项而获得了关注。然而，市场参与者应该认识到与轻轨相关的潜在风险，并优先考虑以太坊网络的长期安全。