Svmuu News Lido stated that its total revenue last year was $40.5 million, a 23% decrease year-on-year, compared to $52.4 million the previous year. Its gross income fell by 18.2%, attributed to factors including net staking outflows due to user withdrawals and a decline in staking rewards.
Lido pointed out that structural changes occurred in Ethereum staking in 2025, with network APR compression, capital shifting from Simple LST to exchange and institutional staking, and intensified competition shrinking the size of its leading market segment. The protocol noted that its market share has diminished, and the proportion of Simple LST in total staking continues to decline.
Lido stated it is evaluating an LDO buyback program, which may be launched in the second quarter of this year. The plan is to use staking rewards generated by the protocol to purchase LDO on the open market and allocate them to the LDO and wstETH liquidity positions held by the DAO. The protocol laid off 15% of its staff last August to ensure long-term sustainability.
Lido stated its goal for 2025 is to expand into new services beyond its core staking products, targeting institutional investors and users seeking higher yields. It disclosed that WisdomTree, with assets under management of $140 billion, launched an Ethereum-based ETP in Europe and obtains staking rewards through the decentralized Lido protocol. (The Block)