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The rapid growth of Lido Finance, a liquid staking solution, has raised concerns within the Ethereum community as it now represents approximately one-third of the total Ethereum (ETH) staked. Some community members are apprehensive about the increasing influence of Lido, arguing that it is eroding the decentralized nature of Ethereum as a whole.
Evan Van Ness, Ethereum's Chief Decentralization Officer, expressed his concerns on Twitter, stating, "Lido may be the biggest attack on Ethereum's decentralization ('credible neutrality') in our entire history."
Over the past year, the amount of ETH staked has surged by nearly 95%, climbing from just over $22 billion to approximately $41.6 billion, as reported by Dune Analytics. Among this substantial amount, Lido now accounts for a substantial 32.37% of all staked ETH in the market, which is nearly four times higher than the second-place runner-up, Coinbase, with an 8.7% share.
Last week, five Ethereum Liquid Staking Protocols Impose Self-Limiting Rule on Market Share. However, Lido Finance community has been against this kind of self-liming proposal since last year. The community voted not to self-limit back last June with over 99% approval rate.
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