Lido and its liquid staking currency stETH dominate the Ethereum staking service market — and that’s not necessarily a bad thing, according to Ethena Labs founder Guy Young.
If it’s a question of what’s more important between liquidity and decentralization during times of market volatility, exchanges care far more about liquidity, says Young.
According to the company website, Ethena “provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin which is not reliant on the banking system: USDe [Unitary Status Dollar Ecoin].”
