DeFi Protocol Lido (LDO) has crossed $16 Billion in Total Value Locked (TVL) despite a plunge in the overall total value locked in decentralized finance this year. According on-chain data, the protocol has gained 18% in TVL since the first day of March with a TVL of $13.83 billion. Fast forward to 20 days later, the protocol has risen to approximately $16.43 billion on March 23, 2022. According to Wu Blockchain, on March 22 ,Singapore-based hedge fund manager Three Arrows Capital inflowed approximately 7,500 ETH worth $22.43 million from FTX and Deribit. The same day, Lido received 36,401 ETH worth approximately $110 million from the firm through a third-party Ether wallet, the “Curve stETH pool.” This automatically qualified Three Arrows Capital to receive a minimum of 36,401 stacked Ether (stETH) tokens from Lido. Three Arrows Capital’s address (0x3BA21b6477F48273f41d241AA3722FFb9E07E247) deposited 43,393 ETH into Curve’s ETH/stETH pool in the past nine hours. https://t.co/GOPHnLptEq — Wu Blockchain (@WuBlockchain) March 22, 2022 The blockchain networks with the most value locked in Lido Finance currently include Ethereum, Terra, and Solana. At the time of writing, Ethereum controls 50.17% of the total value locked in Lido, worth $8.3 billion. What is Lido? Lido (LDO) is a platform built on the Ethereum 2.0 Beacon and the tokens pledged by users are collected and stored on the Beacon Chain. By supporting public blockchain, L...
