Lido overtakes MakerDAO and now has the highest TVL in DeFi

Liquid staking protocol Lido Finance appears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols.

According to data from DefiLlama, Lido’s liquid staking protocol now commands $5.9 billion in TVL, compared to MakerDAO’s $5.89 billion and AAVE’s $3.7 billion.