💥In the midst of growing competition and technical challenges, #Lido faces its toughest moment.
The decentralized staking platform has seen its market share in Ethereum drop to a three-year low, standing at 24.6%. This decline is driven by the rise of rivals like Rocket Pool and community concerns about decentralization. Additionally, a technical failure in its governance system and a record number of withdrawals from $ETH have eroded user confidence. To adapt, Lido has announced a 15% reduction in its workforce, in a clear effort to optimize its operations and respond to a constantly changing market.
