Lido Finance, the biggest player in the Decentralized Finance (DeFi) industry, has flipped popular blockchains like Ethereum, Jito, Solana, and Tron in 24-hour fees collected.
Data by DeFi Llama shows that the platform made over $6.64 million in fees in the last 24 hours. In contrast, Ethereum made $1.98 million, while Jito, a top Solana staking platform, collected more than $1.96 million.
Justin Sun’s Tron earned $1.89 million, while Solana earned $754 million. SynFutures was the second-biggest fee earner, with over $2.49 million.
However, Lido DAO has earned over $90 million in the last 30 days, making it the second-most profitable player in the crypto industry. Ethereum earned $101 million in that period, while Tron and Uniswap collected over $39 million and $52 million, respectively.
Data by TokenTerminal shows that Lido has made over $659 million for the year, making it the fourth-biggest player in the industry after Ethereum, Tron, and Bitcoin, which have made $1.78 billion, $966 million and $765 million, respectively.
For starters, Lido DAO is a leading player in the Decentralized Finance (DeFi) industry, offering liquid staking solutions. It has accumulated over $24 billion in assets, making it the biggest DeFi protocol with twice the assets of EigenLayer, the second-biggest player. Its assets are more than those of AAVE, Maker, and JustLend combined.
Lido earns money by charging a staking fee, a staking service fee, and a node operator fee on its platform. It also earns some money through liquidity pool incentives and treasury management.
Jito, another highly profitable platform, is similar to Lido and has over 11.9 million Solana assets. It is the biggest liquid staking platform in the Solana ecosystem and has made over $203 million in assets this year.
Liquid staking has become highly popular among users in the past few years. Unlike traditional staking, users can withdraw their tokens at any time. Most importantly, users can then liquid retake their already staked tokens and make more returns. EigenLayer has become a giant in this industry and has accumulated over $12.2 billion in assets.
