Altcoin Investing Pick: Staking Platform with $5+ Millions in Annualized Fees đ¸
Hey everyone,
itâs Pick Day!
Every Saturday, you get deep dives on quality Altcoin projects that have numerous growth potential included in our watchlist.
Before we get started, a quick reminder:
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Staking Platform with $5+ Millions in Annualized Fees đ¸
Staking is the process of locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network.
However, once a user stakes their tokens, they are often locked and become illiquid, meaning they can't be easily accessed or sold.
Liquid staking aims to solve this problem by providing stakers with a tokenized representation of their staked assets. This token can be traded, used as collateral, or otherwise utilized in the DeFi ecosystem, making the staked assets "liquid."
In fact, LSD protocols as a category has surpassed lending, bridges and decentralized exchanges (DEXs) in total value locked (TVL), to take the top position at around $31.2 billions.
Here lies the opportunity of todayâs pick.
Our next pick, in particular, integrates DeFi protocols and apps into a streamlined staking solution for delegators in order to maximize their earnings.
The protocol is designed to allow users to stake across multiple networks such as Ethereum, Polygon, Hedera, BNB, Fantom and NEAR.
Lido DAO (LDO), the Top Liquid Staking Governance Token by Market Cap ($2B), has grown by 246% in total value locked (TVL) in the last 365 days, while our pick by 595%.
Now letâs tell you which project we are talking about and share the full investment case with you: