A Wave of Liquidity
I covered liquid staking protocols in the Cosmos extensively during 2022, starting in January with Prism’s incredible refracted derivatives all the way to last month’s feature on StakeEasy’s novel, multifaceted token model. The pace of innovation is not slowing down and 2023 has already seen many exciting announcements and launches from protocols, including: pSTAKE, Shade, Stride, BackBone Labs, and Quicksilver.
The objective of this article is to provide an updated overview of most of the liquid staking derivatives (LSDs) currently available in the Cosmos. More importantly, I want to check the barometer and see how much usage these dApps, protocols, and blockchains are getting. By comparing them, I uncovered some surprising adoption results. Read on to the end, because I will also share some incredible technological features with you, all launching this year. And, you can also find links to all the protocols discussed here in the Sources section below.
LSDs in the Cosmos
Take a look at the pictures below for a rundown of the protocols offering liquid staking derivatives in the Cosmos, as well as the names of all the tokens in circulation. As you can see, the field has become more crowded!
