🔒 Lido Finance – “Ethereum of Staking”: $35 billion TVL, Q1/2025 Revenue & 2025 Roadmap!
(Data updated until 07/2025 and is only basic information about the project to facilitate basic evaluation – Not investment advice)
1/ 🌐 Overview & Positioning
- @Lido is the leading liquid staking protocol, supporting ETH but has expanded to Solana, Polygon, Cosmos…
- TVL Q1/2024 increased from ~$5 billion → $35.5 billion (+67% QoQ) and maintained ~28–33% Ethereum staking market share (~1 million validators).
- Market cap ~ $2–2.3 billion (Q1/2025)
2/ 🏆 Milestones Highlight 06/2024 – 07/2025
- Q3/2024: Approaching Fast Finality (F3) – reducing confirmation time ↓450 times.
- Q4/2024: Launch DVT (Simple DVT & SSV Module), open permissionless validator onboarding planning Holesky testnet Q2/2025 → mainnet H2/2025.
- Q1/2025: Enable Community Staking Module (permissionless CSM); onboarding 214 node operators.
- Launch Network v25 “Teep” (04/26/2025): F3 officially + support FEVM ().
- Q2–Q3/2025: Anticipating F3 steady-state, PDP (Proof-of-Data), expanding Filecoin, AI/storage partnerships.
- Mid/late 2025: Launch Dual Governance, Staking Router v2.0, continue multi-chain (wstETH on Mode, BNB…).
3/ 💸 Revenue & Operational Efficiency
- Q1/2024: Revenue ~$28 million (+46% QoQ); costs ~$13.5 million, reduced losses from –$1.12M → –$0.19M.
All of 2024: Net revenue ~$99 million, costs ~$94 million ⇒ Profit ~ +$5 million – marking the first profitable year.
- Q1/2025: TVL & network expansion, expecting quarterly revenue equivalent to or higher than Q1/2024 (~$30M+). (No specific Q1-Q2/2025 data yet)
4/ 🛠️ Dev & Governance
- Validators & DVT: 22% of active validators in North America, the system is still strongly decentralized. The DVT cluster supports >500 validators.
- Community Staking Module (CSM): 214 operators, aiming to increase CSM market share to double digits; Guild and workshops support.
- Governance: Staking Router v2.0 & Dual Governance are in proposal, to be implemented mid-2025.
5/ 🛣️ Roadmap & Future Direction
Q2–Q3/2025:
- Fast Finality (F3) stabilization.
- PDP enhances hot storage.
- Launch DVT mainnet (SSVLM, Simple DVT).
- Launch Dual Governance, Staking Router v2.0.
- Attract global diversifier validators.
2025–2026:
- Multi-chain: wstETH on BNB, Mode…
- Public goods funding ProPGF.
- AI/archive collaborations like Recall, Fasila, Internet Archive.
6/ ✅ Opportunities & ⚠️ Challenges
✅ Leading staking node: $35 billion TVL, >1 million validators, stable revenue.
✅ Real value: Q1/2024, revenue $28 million + first profitable year (+$5 million).
✅ Breakthrough technology: F3, DVT, permissionless, multi-chain…
⚠️ TVL may fluctuate; high network costs when expanding validators.
⚠️ Competition from EigenLayer, Rocket Pool, Stakewise…
⚠️ Some Q1/2025 revenue data has not yet been released.
7/ 🧾 Conclusion
Lido is transitioning from simply providing ETH liquidity to a comprehensive, decentralized, and multi-chain staking infrastructure. With F3, DVT, CSM, and a clear roadmap, they are advancing decentralized technology. Despite ongoing competition and volatility, the positive revenue model, strong roadmap, and open ecosystem set the stage for long-term positioning.
#LidoFinance #LiquidStaking #stETH #FastFinality #DVT #CommunityStaking #defi #DualGovernance #LidoAlliance #Tokenomics