🟨Expanding to BNB

The market we see for LSDfi and more

Liquid staking is a sector in the BNB ecosystem with roughly US$150M in TVL.

Similar to ETH, 14% of BNB is staked and we see a lot of similar projects.

Source: Binance Research

• ANKR

• STader

• pStake

These projects are "LSD" projects that provide LSD BNB for people who stake BNB with yield.

As they are rebasing tokens, this reminds of the early LSD days of Ethereum.

And we now see Binance actively exploring this space starting with stablecoins.

Source: Binance Twitter

We believe that the next LSDfi explosion will come from a very active ecosystem such as Binance Smart Chain.