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An Overview of Ethereum Staking
The centralization issue in Ethereum staking has emerged as a concern. As of October 2023, the leading liquid ETH staking provider, Lido, controls a significant share of 32% of the entire Ethereum staking market. This percentage includes solo stakers, exchanges, and staking-as-a-service providers. Lido's dominance in the LSDfi market is particularly noteworthy, where it controls a substantial 72% of the market. This concentration of staking power poses a potential threat to Ethereum's principle of decentralization.
Hord has taken proactive steps to address this challenge by launching its ETH staking pools, which offer stakers an attractive APR and introduces diverse features. Hord seeks to provide an alternative and contribute to the broader Ethereum ecosystem's decentralization.