Liquid staking is now the 1 category of DeFi, according to data from DeFiLlama.
that stake crypto on behalf of users. These protocols also issue tokens to users that represent the person's deposited crypto. Because these tokens can be used in DeFi apps, liquid staking protocols allow users to both simultaneously stake their coins and use them in other applications.
According to DefiLlama’s May 1 data, Lido is still the top staking protocol with $11.54 billion of cryptocurrency locked inside its contracts. Coinbase Wrapped Staked Ether is a distant second with $2.19 billion locked, and Rocket Pool is third with $1.46 billion. The remaining protocols have less than $1 billion of TVL each but add up to $2.22 billion collectively.
Lido was the first liquid staking protocol, and it launched in 2020. Liquid staking has become more popular as Ethereum
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