The attractiveness of staking-as-a-service has led many crypto investors to networks like Ethereum (ETH) and Lido DAO (LDO). However, recently, ETFSwap ($ETFS) has been capturing the attention of crypto investors, as there is the possibility that they could earn more staking rewards from this DeFi platform.
Ethereum (ETH) Validators Exiting The Network
Ethereum’s transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism (known as the “Merge”) is also believed to have made the Ethereum (ETH) token more valuable. Meanwhile, this transition made staking an integral part of the network’s offerings since validators were needed to secure the network.
Then, Ethereum offered high yields for validators who could help secure the network by staking their Ethereum (ETH) tokens. This lured many crypto investors who saw an opportunity to make passive income. However, since the Shanghai upgrade, a considerable number of validators have opted to unstake their crypto, suggesting that they are looking for more profitable opportunities.
Lido DAO’s (LDO) Ethereum Stake Market Share Drops
Lido DAO (LDO) is a major player in the staking space, particularly for Ethereum (ETH) holders. Before Lido’s solutions, crypto staking often involved complex technical procedures.
Lido DAO (LDO) changed staking by introducing staking pools. Investors simply deposit their Ethereum (ETH) into Lido’s staking pools. In return, Lido DAO (LDO) gives a new token called Lido Staked ETH (stETH). Each token is a proportional share of the Ethereum (ETH) deposited in the pool.
Lido DAO (LDO) automatically handles the technical complexities of crypto staking, including validator selection and operation. Rewards gotten from staking are shared proportionally with stETH holders.
While Lido DAO (LDO) is a convenient and accessible way to stake Ethereum (ETH), there are also a few cons. Lido DAO (LDO) charges a fee on staking rewards to cover operational costs. This fee is deducted before rewards are distributed to stETH holders, potentially reducing their overall returns compared to staking independently.
This provides a plausible explanation for why Lido’s Ethereum staking market share has dropped recently. Crypto investors seem to have weighed the fees they pay to Lido and decided it is better to stake with a more decentralized platform like ETFSwap ($ETFS).
Why Crypto Investors Are Turning To ETFSwap ($ETFS) For Crypto Staking
One of the most attractive aspects of Decentralized Finance (DeFi) is generating passive income from your cryptocurrency holdings through staking. Staking allows crypto investors to lock up their crypto assets to support the operations of a Proof-of-Stake (PoS) blockchain network and earn rewards in return.
However, with crypto staking rewards dropping across the board, Ethereum (ETH) and Lido DAO (LDO) holders are now looking to ETFSwap ($ETFS) for a more rewarding staking experience. They understand that the DeFi platform is set to implement certain strategies to guarantee users more rewards on their staked tokens.
It is also worth noting that ETFSwap allows diverse asset staking, meaning that users can stake their Ethereum (ETH) tokens alongside the $ETFS token. This strategy will also attract more crypto holders beyond those holding Ethereum (ETH) and Lido DAO (LDO) since they can stake various tokens in one place and earn greater staking rewards.
Crypto investors looking to stake their tokens are known to be particular about security and transparency, and ETFSwap ($ETFS) recognizes this. The DeFi platform prioritizes investor confidence through regular security audits, clear communication on staking protocols and risks, and a strong community. It aims to build trust and make itself a reliable platform for staking crypto assets.
ETFSwap ($WTFS) is undoubtedly repositioning staking-as-a-service, and this is one of the reasons investors are doubling down on their investment in the platform by accumulating more of the ETFSwap ($ETFS) token. The platform’s utility coin, $ETFS, is set to act as the passport to enjoy all the offerings that ETFSwap offers its users.
Luckily, stage 1 of the token’s $ETFS presale is still ongoing, and each token costs $0.00854. This price is expected to double in stage 2 of the presale, meaning there is no better time to invest than now.
For more information about the $ETFS Presale:
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