Liquid Staking overtakes Dexs and becomes the leading defi category at Binance's half-year report 2023

Liquid Staking overtakes Dexs and becomes the leading defi category at Binance's half-year report 2023
Liquid Staking becomes the most important category in the area of decentralized finances (Defi) and overtakes the decentralized stock exchanges (Dexs) in April 2023. This emerges from the half -year report in 2023 by Binance. According to the report, Liquid Staking has now been the most popular method of users to pledge Ethereum (ETH).
Liquid Staking is a partial sector from Defi that enables users to achieve earnings by stake up their tokens without having to do without liquidity. During the upgrade of Ethereum Shanghai, the set mechanism played a crucial role because it prevented users from freely plugging in their ETH.
The Liquid Staking Tokens (LSTS) offered users liquidity and at the same time enabled them to achieve income with their ETH, even after the Shanghai update allowed users to withdraw their ETH used. The Liquid Staking continued to record significant growth.
Another interesting term that appears in the report is "LStfi". This is a combination of liquid staking and defi. The LStFI protocols include earnings trading protocols, indexing services and platforms on which users can create stable coins with LSTs as security.
Although liquid staking is becoming increasingly popular, users must be aware of the potential risks, such as weaknesses in smart contracts, reduction risks and price fluctuations. A spokesman for Binance emphasized the importance of thorough research and selection of serious protocols to minimize these risks.
Despite the growth in the Liquid Staking area, the Defi sector cut off a little worse overall than the wider cryptoma market and, according to the report, lost 0.5% of dominance.
Overall, Binance's half -year report shows that Liquid Staking is becoming increasingly important and becoming the leader in the Defi area. However, users should keep an eye on the potential risks and act responsibly to use the advantages of this new financial category.