According to Odaily Odaily, Lido reported total revenue of $40.5 million last year, a 23% decrease from $52.4 million the previous year. Gross revenue declined by 18.2%, attributed to factors including net staking outflows due to user withdrawals and a drop in staking yields.
Lido points out that Ethereum staking will undergo structural changes in 2025, with network APR compression, funds shifting from Simple LST to exchange and institutional staking, and increased competition shrinking its leading market share. The protocol indicates its market share is shrinking, and the proportion of Simple LST in total staking continues to decline.
Lido stated that it is evaluating an LDO buyback program, which may be launched in the second quarter of this year. The program plans to use staking rewards generated by the protocol to purchase LDO on the open market and invest it in the LDO and wstETH liquidity positions held by the DAO. Last August, the protocol laid off 15% of its staff to ensure long-term sustainability.
Lido stated its 2025 goal is to expand beyond its core staking products to offer new services targeting institutional investors and users seeking higher returns. It disclosed that WisdomTree, with $140 billion in assets under management, launched an Ethereum-based ETP in Europe and offers staking rewards through the decentralized Lido protocol. (The Block)
