【Viewpoint: stETH has a risk of decoupling, which may trigger liquidations of lending protocols】 Jinse Finance reports that Jlabs Digital analyst Ben Lilly points out that stETH is currently being withdrawn from Lido. Another lending protocol, Figment, is absorbing Lido's market share, which means Figment may be a staking partner for ETF. 32% of stETH (wstETH) is used as collateral for lending protocols, and decoupling could mean liquidations of lending protocols. It is worth noting that currently, 278,000 wstETH is in a 'high risk' state (high risk is defined as a health factor between 1 and 1.1).