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Newsletter 015

LsETH among the fastest-growing LSTs, Blockdaemon’s integration, and upcoming events.

Newsletter 015

This month’s “News from the Collective & Ecosystem Updates” section is a heavy-hitter, with the staking ecosystem building strong momentum through H1. It was a big month for Liquid Collective, too, with Blockdaemon announcing it will integrate Liquid Collective across its product suite, LsETH representing one of Ethereum’s fastest-growing LSTs, a new qualified custodian for LsETH, and more.

Read on for the latest from your favorite enterprise-grade liquid staking standard, including what not-to-miss if you’re attending Consensus or ETHCC this summer.

Liquid Collective's Latest

Blockdaemon x Liquid Collective

Blockdaemon will launch support for Liquid Collective

Last week, Liquid Collective announced that Blockdaemon, “the leading institutional-grade digital asset infrastructure provider,” will be integrating Liquid Collective into its platform.

In addition to supporting LsETH minting and redemption, LsETH will be the exclusive liquid staking solution in the Blockdaemon Wallet product. Blockdaemon also intends to join Liquid Collective as a Node Operator, further solidifying its commitment to the ecosystem.

This integration is a step forward in expanding institutional access to enterprise-grade liquid staking, reflecting Blockdaemon’s dedication to security and compliance-first standards, which aligns with Liquid Collective’s aim to provide a decentralized approach to enterprise-grade staking that promotes standardization and composability.

Read our announcement here, or learn more on Blockdaemon’s site.

Konstantin Blockdaemon Liquid Collective liquid staking solution
Source: Blockdaemon

Liquid Collective: one of Ethereum’s fastest-growing LSTs

Liquid Collective: one of Ethereum’s fastest-growing LSTs

Liquid Collective’s ETH TVL is up over +146% YTD, representing one of the fastest-growing protocols in the ETH liquid staking ecosystem.

All rewards received through the Liquid Collective protocol are ETH network rewards received for staking—Liquid Collective doesn’t use “points,” and users’ ETH is never used for anything other than staking. Instead, it’s Liquid Collective’s focus to provide a trusted and secure liquid staking standard that led to eleven of the industry’s leading platforms integrating support for LsETH, and over 480% growth in LsETH holders over the last year.

Stay up-to-date with all of the growth that’s still to come for LsETH by joining Liquid Collective’s community Telegram channel, or following Liquid Collective on X, for regular “By the Numbers” updates. You can view real-time Liquid Collective data anytime here on Dune.

Liquid staking vs. liquid restaking: breaking down the differences

Liquid staking vs. liquid restaking: breaking down the differences

As EigenLayer’s restaking innovation has grown at an exceptional rate, the similarities in naming have caused confusion: what’s the difference between a LRT and a LST?

Beyond the core differences between the receipt tokens for stakers and restakers, our post explores how staking, liquid staking, restaking, and liquid restaking, interact and work together, and the different trust considerations that come with each form of participation. Read it here.

Industry-leading insights into regulatory considerations

Latest report from Mr. X

Mr. X has been cooking in Liquid Collective’s research department, but, furtunately for us, still took some time to bust a few LsETH myths this month. cTokens vs. aTokens, Node Operator diversity, and who can stake through Liquid Collective: check it out in Mr. X’s latest report on X.

LsETH Ecosystem Support Roundup


Professionalizing liquid staking and DeFI
ICYMI: Watch the recording of Liquid Collective’s panel with leading legal experts, covering staking, liquid staking, and US securities law, on the event page here.

Upcoming Conferences: To connect with the teams supporting Liquid Collective at an upcoming conference, contact us.

News from the Collective & Ecosystem Updates

  • Alluvial, a team supporting Liquid Collective’s development, updated its Liquid Collective Reporting API to provide 7-day ETH staking reward rate data. Learn more about Alluvial’s APIs here, and view LsETH’s SRR on Dune.
  • Figment migrated all of the ETH validators it operates off of the Geth execution client, due to concerns that Geth’s supermajority use across the network could pose risks. Learn more here.
  • Ethereum’s validator activation queue reached its highest level since September 2023, a sign of strong inbound staking demand. Learn more here.
  • Consensys is suing the SEC to support the position that Ethereum is a global computing platform, not an investment scheme, and that ether is a commodity, not a security. Learn more here.
  • Coinbase Developer Platform hosted a conversation on EIP-7251: Increase Max-Effective-Balance, including the EIP’s likely implications for validators. Watch it here.
  • Fireblocks launched a Global Custodian Partner Program, a network for connecting with licensed digital asset custodians. Learn more here.
  • EigenLayer launched its restaking mainnet, along with its EIGEN token. Learn what a ‘universal intersubjective work token’ is, and what it means for the ecosystem, from Coinbase’s Viktor Bunin here.
  • Rated launched a Native Restaking dashboard in the Rated Network Explorer, including the percentage of the network restaked, total validators, operator data, and more. View it here.
  • Everstake published a step-by-step guide on how to restake and delegate LsETH on EigenLayer. Read it here.
  • Blockdaemon announced it is now an ADGM-registered entity to operate in the UAE. Read more here.
  • Figment reported record growth, passing $15 billion in assets staked on the platform. Read more here.
  • Nexus Mutual DAO launched the first season of its “Staying Safe in DeFi Writing Contest” series, offering prizes to submissions of quality content about DeFi safety. Learn more here.

Liquid Collective By The Numbers

Daily and Total ETH Deposits

  • Total Supply ETH: 86,637.12 ETH + 7.57%
  • Total Value Locked: $262,355,400 + 6.89%
  • LsETH Conversion Rate: 1 LsETH = 1.04806 ETH + 0.28%

All data is accurate as of May 17, 2024. View real-time onchain data here on Dune. Percentage changes are from the April 12, 2024 edition of By The Numbers.

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