Post

I've always felt that the Lido project holds a very special position in DeFi. It's not an exchange, nor a lending protocol, but it captures the most core aspect of ETH: staking rewards. As long as ETH continues moving toward being a "reserve asset," staking will become increasingly important, and Lido's role will become more critical. However, my judgment of it is not purely optimistic. The stronger it gets, the more it indicates the market's dependence on ETH staking; and the higher the dependence, the more discussions there will be about concentration and risk. So in my view, Lido is a very typical kind of project in DeFi: it's not the most bustling, but it locks in the fundamental entry point. #30年期美债，顶部还是新起点？ $BTC