Jito | RocketPool | Lido | Dinero | BENQI | Marinade

• JitoSOL is Solana’s premier liquid staking token that includes rewards from revenue associated with MEV extraction. The portion of MEV tips received by the stake pool’s validators and distributed back to stakers in the form of MEV rewards has grown over the last 6 months, reaching an all-time high of 13,210 SOL the week ending Jan. 20 (~$2.65M at today’s rate).

• In the last six months, MEV tips to Jito-enabled validators totaled ~3.5M SOL, with one third of that collected in the month of January. This continued growth is due to the increased trading activity on Solana and the spike in MEV on the network, benefitting JitoSOL holders in the form of additional rewards.

• The number of unique MEV tippers also surged, with peak participation hitting over 30M tippers in the month of January, up from 900,000 tippers over the same period a year prior — that's a 33x increase year-over-year.

• Rocket Pool is a decentralised staking protocol on Ethereum that provides users with liquid and native staking options. Their major offering is a native staking option with as little as 8 ETH. With fewer ETH deposits and more withdrawals, the protocol's liquid staking has experienced a steady decline in ETH stake in the last year.

• In comparison, total ETH staked in liquid staking protocols has remained relatively stable with less than 2% decline in the last year. While Lido's market share dwarfs all others, there is an obvious decline in Rocket Pool's market share.

• Trading volume for rETH, Rocket Pool's liquid staking token, has also followed this pattern of decline in the last 10 months. However, in recent times, Base trading volume has slowly began to take market share, reaching as high as 48% on Dec. 19, 2024.

• Lido Finance is a liquid staking solution for proof-of-stake cryptocurrencies. It allows users to stake their crypto assets and receive staked tokens, like stETH, that can be used in DeFi applications. Lido continues to dominate as the project with the most net staked ETH — it accounts for 27.7% of total staked ETH staked, ahead of both Coinbase and Binance. Interestingly, over the last seven days Lido is also among the top five projects by net staking outflow.

• The average APR for Lido staking users increased by 46.5% over the past 7 days, jumping from 2.86% to 4.19%. The improved staking rewards could attract more users to the project. The higher APR also reflects the platform's ability to generate higher returns for its stakers.

• Over the last three months, unique stakers grew by 3.64%, reaching 322,903. Analyzing the distribution, 220,036 of these stakers staked $2,048 or less, showing a notable concentration of smaller stakes. This highlights a trend towards more frequent, lower-end stakes among users.

• Dinero’s pxETH TVL has continued to soar since its last feature in November 2024, growing from 30,393 ETH to 71,351 ETH — a 135% increase. This can be attributed to strong demand for higher ETH-denominated yield, and for Branded LSTs, Dinero’s liquid staking solution that enables L1s and L2s to launch native LSTs backed by staked pxETH.

• In just two months, total TVL in Branded LSTs across Sei (seiyanETH), ZKSync Era (zkETH), Flare (flrETH), and Ink (iETH) has climbed from 668.18 ETH to 23,710 ETH — a 3,448% increase. Much of this increase has come from the newly launched Berachain (beraETH).

• The early success of beraETH was driven by Boyco. A total of $125M was deposited across seven beraETH markets on Boyco, with $57.3M directly deposited into beraETH. From there, capital was deployed into Berachain-native protocols such as Dolomite, Beraborrow, Kodiak, and Infrared.

• BENQI has established itself as the dominant force in Avalanche's liquid staking landscape — the metrics highlight its growing influence. At present, out of 20.8M AVAX total deposits, 12.9M remain actively staked, pushing the protocol's TVL to $271M at current AVAX prices. The platform has distributed over 704,000 AVAX in rewards to stakers, demonstrating strong capital efficiency and staker benefits.

• Benqi's liquid staking TVL has grown by 1M AVAX compared to last year, reaching $8.6M – notably, monthly net flows have remained positive for most periods since 2022, indicating consistent user adoption and platform stability.

• BENQI's staker base surged from under 1,800 in December to over 5,900 in January, with more than 5,000 new wallets joining - marking the protocol's largest monthly growth in user adoption.

• Marinade Finance connects SOL holders with the best staking rates on Solana. With its Stake Auction Marketplace, Marinade automatically delegates your SOL to the top-performing validators. As the pioneer of liquid staking on the Solana network, Marinade consistently offers some of the highest APY rewards in the market. Marinade's liquid staking token, mSOL, recently hit a fresh ATH of $1.4B.

• mSOL token holders have increased by 37% in the past 12 months.

• Native staking is on the rise — a new form of staking SOL is becoming more popular with a cumulative value of 12.3M SOL staked natively. Marinade Native is a low-fee, secure, smart-contract-free staking solution for Solana.