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YouQuanWritten by Siddhant Kejriwal Translated by Glendon, Techub News
Since the development of the cryptocurrency industry, staking has become an indispensable cornerstone and plays an important role in network security and investor participation. By participating in staking, individuals can not only contribute to the stable operation of the blockchain network, but also unlock opportunities to obtain passive income. Specifically, the benefits of participating in staking include:
1. Strengthening cryptoeconomic security: In essence, staking involves locking a certain amount of cryptocurrency to support the operation of the blockchain network. This process is particularly critical for proof-of-stake (PoS) blockchains, where validators confirm transactions based on the amount of cryptocurrency they stake. This mechanism ensures the security of the network and closely aligns the interests of participants with the healthy development of the blockchain.
2. Earn passive income: In addition to enhancing network security, staking also provides attractive economic incentives. By staking assets, investors can receive rewards, usually in the form of additional cryptocurrency tokens. This method of income generation meets the needs of both new and experienced investors who are looking to maximize returns without actively trading. In some projects, staking may also involve airdrop activities, providing additional asset appreciation opportunities for stakers.
3. Launch new projects through re-staking: One of the latest innovations in the staking field is "restaking", which enables staked assets to be reused across multiple protocols. This approach allows new projects to leverage the security and capital of existing networks and effectively bootstrap their development. For example, platforms such as EigenLayer facilitate re-staking by allowing users to stake their ETH or liquid staking tokens and extend cryptoeconomic security to other applications on the network, bringing further benefits to investors.
It should be noted that while re-staking provides investors with the opportunity to increase returns and enhance network support, it also comes with some complexities and risks that cannot be ignored. As 2025 approaches, the DeFi staking space will continue to flourish, providing investors with more options, and this article will take you through the top DeFi staking platforms that are worth paying close attention to.
DeFi staking involves locking cryptocurrency assets in smart contracts to support the operation of blockchain networks, especially those that adopt the Proof of Stake (PoS) consensus mechanism. In PoS networks, validators confirm transactions and create new blocks based on the amount of cryptocurrency they stake. Staking usually requires deploying a full node and meeting the network's minimum staking requirements, enabling participants to verify transactions and participate in network consensus to receive rewards.
Main concepts in DeFi staking
Smart contracts and staking contracts: Smart contracts are self-executing agreements encoded on the blockchain that ensure that the staking process is automated, transparent and secure. When you stake tokens, you actually become a validator (or delegator) of the network, working together to maintain the security and stability of the network. In return, you will receive rewards in the form of new tokens or a share of transaction fees.
Staking rewards: Staking rewards usually include newly minted tokens and a share of transaction fees to incentivize participants to contribute to network security and operations.
Penalty mechanism: In order to maintain network integrity, the PoS network implements a penalty mechanism called "Slashing", which reduces the staked funds of validators if they engage in malicious activities or fail to perform their duties. This mechanism is designed to curb the occurrence of improper behavior.
DeFi Staking vs. Centralized Staking
When comparing DeFi staking to centralized staking services, several key factors stand out:
Ownership: DeFi staking allows users to retain actual ownership of their assets because they control their own private keys. In contrast, centralized staking requires users to entrust their assets to a third party, thereby giving up direct control.
Transparency: DeFi platforms run on open-source smart contracts, providing a transparent staking process and reward distribution. Centralized platforms may lack this transparency, making it difficult for users to verify how rewards are calculated and distributed.
Security and Control: DeFi staking gives users greater control over their assets, reduces reliance on intermediaries, and reduces counterparty risk. Centralized staking involves entrusting assets to a platform, which can pose security risks if the platform is attacked.
Mechanism: In DeFi staking, users entrust their stake to a permissionless network of validators and directly participate in the network's consensus mechanism. Centralized staking platforms pool user funds and stake using validators selected by the platform, and typically do not disclose the specific details of the process.
Learning Curve: DeFi staking can be complex, requiring users to navigate various platforms and manage private keys, which can be challenging for beginners. Centralized platforms offer a more user-friendly, Web2-like experience that simplifies the staking process at the expense of decentralization.
Conclusion
Choosing between DeFi and centralized staking platforms comes down to personal preference, especially regarding control, transparency, and ease of use. Next, this article will explore the top DeFi staking platforms that are expected to make an impact in 2025 and provide some insights.
Below is a comprehensive overview of the DeFi staking protocols we will be discussing, focusing on their main features, related tokens, and current annual interest rates (APR) or annualized yields (APY).
Lido Finance
Lido Finance is a DeFi protocol focused on liquidity staking services. It enables users to stake their digital assets on multiple blockchain networks while maintaining liquidity, effectively solving the limitations of traditional staking such as asset locking and high entry barriers. By issuing liquidity staking tokens (LSTs) such as stETH for Ethereum, Lido allows users to earn staking rewards while using their assets in the broader DeFi ecosystem.
Main Features of Lido Finance
Liquidity Staking: Lido's core service allows users to stake assets without locking them up. It offers staking token derivatives (e.g. stETH) that can be freely transferred, traded, or used in other DeFi protocols.
Decentralized Governance: Managed by the Lido Decentralized Autonomous Organization (DAO), Lido ensures that decisions about protocol parameters, node operator selection, and fee structure are made collectively by LDO token holders.
Safety Measures: Lido employs experienced node operators and conducts regular audits to maintain the integrity and security of the staking process and minimize risks such as penalty slashing.
DeFi Integration: Lido's liquidity staking tokens have been widely accepted on various DeFi platforms, enabling users to participate in activities such as lending and yield farming while earning staking rewards.
Supported Staking Tokens
Lido supports staking of multiple cryptocurrencies across different networks, including:
Ethereum (ETH): Stake ETH and get stETH.
Polygon (MATIC): Stake MATIC and get stMATIC.
Solana (SOL): Stake SOL and get stSOL.
Polkadot (DOT): Stake DOT and get stDOT.
Kusama (KSM): Stake KSM and get stKSM.
LDO Token and Its Utility
Lido’s native token, LDO, plays several key roles in the ecosystem:
Governance: LDO holders participate in the Lido DAO to vote on key decisions such as protocol upgrades, fee structure, and selection of node operators.
Incentives: LDO tokens can be used to incentivize liquidity providers and users who contribute to the growth and stability of the Lido protocol.
Summary
Lido Finance has currently consolidated its leading position in the DeFi space. As of December 2024, its total locked value (TVL) is close to an all-time high of $40 billion.
Lido's growing dominance as the leading LST platform | Chart from DefiLlama
This growth reflects users' growing confidence in Lido's liquidity staking solution and its integration in the DeFi ecosystem. In addition, Lido's recently launched community staking module enhances decentralization by allowing permissionless node operators to participate, further strengthening the security and resilience of the network.
Pendle Finance
Pendle Finance is a DeFi protocol that allows users to tokenize and trade future returns on yield assets. By separating the principal and yield components of an asset, Pendle employs more advanced yield management strategies, including fixed income, speculation on future yield changes, and unlocking liquidity from staked assets. This innovative approach brings traditional financial concepts, such as interest rate derivatives, into the DeFi space, providing users with greater control and flexibility over their investments.
Key Features of Pendle Finance
Yield Tokenization: Pendle allows users to wrap yield tokens into Standardized Yield (SY) tokens, which are then split into Principal Tokens (PT) and Yield Tokens (YT). This separation allows the principal and future yield components to be traded independently, facilitating the implementation of strategies such as locking in fixed income or speculating on yield fluctuations.
Pendle Automated Market Maker (AMM): Pendle's AMM is designed for time-decaying assets such as YT, providing optimized pricing and minimal slippage. It supports pooled liquidity and a dynamic fee structure that improves capital efficiency and reduces impermanent loss for liquidity providers.
vePENDLE Governance: Pendle uses a voting custody token model where users can lock PENDLE tokens to receive vePENDLE. This mechanism grants governance rights, allowing holders to participate in protocol decisions, provide direct incentives to specific liquidity pools, and earn a portion of protocol revenue.
Supported Staking Assets
Pendle supports a variety of yield assets across multiple blockchain networks, including:
Ethereum (ETH): Pendle allows assets such as stETH (Lido's liquidity staking token) to be tokenized and traded.
Stablecoins: Tokens of lending protocols such as Aave or Compound (e.g., USDC and DAI) can be used in Pendle’s ecosystem.
Other yield tokens: Assets generated by various DeFi protocols can also be integrated into Pendle’s platform.
PENDLE Token and Its Utility
The PENDLE token is the native utility and governance token in the Pendle ecosystem. Its main features include:
Governance: PENDLE holders can lock their tokens to receive vePENDLE, granting them voting rights to participate in protocol governance decisions, such as proposing and voting on upgrades, fee structure, and other key parameters.
Incentives: PENDLE tokens incentivize liquidity providers and users, promoting the growth and stability of the platform. In addition, vePENDLE holders can direct incentives to specific liquidity pools, thereby increasing their returns.
Revenue Sharing: vePENDLE holders are entitled to share the protocol's revenue, aligning the interests of the community with the success of the platform.
Summary
Pendle Finance has gradually become an important force in the DeFi field by introducing yield tokenization and AMMs dedicated to yield trading. As of December 2024, Pendle's total locked value (TVL) has exceeded US$5 billion (data from DefiLlama).
Pendle's integration with multiple DeFi protocols and its expansion in various blockchain networks such as Ethereum and Arbitrum further consolidates its position as a versatile and valuable tool for yield management in the DeFi ecosystem.
EigenLayer
EigenLayer is an innovative protocol based on Ethereum that introduces the concept of "re-staking", allowing users to reallocate their staked Ethereum (ETH) or Liquid Staking Tokens (LSTs) to enhance the security and functionality of other services built on the Ethereum network. By enabling the reuse of staked assets, EigenLayer promotes a shared security model, as well as the development of application chains and Rollup technologies that do not require independent validator sets.
Main features of EigenLayer
Re-staking mechanism: EigenLayer allows ETH stakers and LST holders to choose to verify new software modules, which are called active verification services (AVSs), by re-staking assets. This process extends the security of Ethereum to a wider range of applications, including data availability layers, oracle networks, and consensus protocols.
Permissionless token support: EigenLayer introduces permissionless token support, enabling any ERC-20 token to be added as a re-staking asset. This extension allows multiple tokens to contribute to the security of decentralized networks, promoting cross-ecosystem cooperation while enhancing the utility of various tokens.
EigenDA (Data Availability Layer): EigenLayer offers EigenDA, a low-cost data availability solution for Rollups and other Layer 2 solutions. By ensuring data is easily accessible and secure, EigenDA improves the scalability and efficiency of Ethereum-based applications.
Governance and Flexibility: EigenLayer's architecture allows AVSs to customize their security parameters, including selecting specific tokens for re-staking and defining slashing conditions. This flexibility enables services to tailor security measures to their unique needs, promoting a more resilient and adaptable ecosystem.
Supported Re-Pledge Assets
EigenLayer supports multiple assets for re-pledge, including:
Ethereum (ETH): Users can participate in securing other services by re-staking their native staked ETH.
Liquid Staked Tokens (LSTs): Tokens such as stETH and rETH can be re-staked through EigenLayer, allowing holders to earn additional rewards.
ERC-20 Tokens: With permissionless token support, any ERC-20 token can now be added as a re-pledgeable asset.
EIGEN Token and Its Utility
EigenLayer has launched the EIGEN token, a general purpose inter-subject work token designed to enhance the security of the AVS forked protocols supported by EigenLayer. In the face of extreme situations such as active attacks or security vulnerabilities, the EIGEN token can protect these protocols and ensure that the integrity of the blockchain modular stack is not compromised. By combining the EIGEN token with re-staked ETH, EigenLayer provides users with an additional level of cryptoeconomic security.
Summary
According to DefiLlama data, as of December 2024, EigenLayer's TVL has reached approximately $20.1 billion. As EigenLayer continues to grow, it remains at the forefront of enhancing Ethereum's security and scalability with its groundbreaking re-staking protocol, providing new opportunities for users and developers to participate and build on the Ethereum network.
Ether.fi
Ether.fi is a decentralized, non-custodial liquidity staking protocol that empowers Ethereum holders by allowing them to stake their assets while retaining control of their private keys. Ether.fi issues the liquid staking token eETH, which enables users to earn staking rewards and participate in the broader DeFi ecosystem without the limitations that come with traditional staking. This approach enhances the security, decentralization, and user autonomy of the Ethereum network.
Key Features of Ether.fi
Non-custodial staking: Unlike many staking services, Ether.fi ensures that users maintain control of their private keys throughout the staking process, significantly reducing custodial risk.
Liquidity staking with eETH: When users stake ETH, they receive eETH, a liquidity token that represents their staked assets. This token can be used for lending and yield farming on various DeFi platforms while accumulating staking rewards.
Integration with EigenLayer: Ether.fi has partnered with EigenLayer to provide a re-staking feature that allows users to earn additional rewards by securing multiple decentralized applications (DApps) simultaneously.
Operation Solo Staker: Ether.fi promotes decentralization by allowing individuals to operate their own validator nodes through the Operation Solo Staker program.
ETHFI Token and Its Utility
Ether.fi's native token ETHFI has multiple functions within the platform:
Governance: ETHFI holders have the right to participate in the governance of the protocol and influence decisions related to treasury management, token utility, and ecosystem development.
Revenue Sharing: A portion of the protocol's monthly revenue is used to repurchase ETHFI tokens, which may enhance its value and benefit token holders.
Staking Incentives: Users can stake their ETHFI tokens to earn additional rewards, further incentivizing participation and alignment with the platform's development.
Summary
Ether.fi has become a significant player in the DeFi space, with its TVL exceeding $9.54 billion in December 2024, making it one of the leading re-staking protocols in the Ethereum ecosystem.
Ethena Finance
Ethena Finance is an Ethereum-based DeFi protocol that provides a crypto-native synthetic dollar called "USDe". Unlike traditional stablecoins that rely on fiat reserves, USDe maintains its peg through a delta hedging strategy and cryptocurrency collateral (primarily Ethereum), a design that provides a censorship-resistant and scalable solution.
Main Features of Ethena Finance
Synthetic Dollar (USDe): USDe is a fully backed synthetic dollar collateralized by crypto assets and managed through delta hedging. This approach ensures stability without relying on the traditional banking system, providing a resilient alternative to the DeFi space.
Synthetic Dollar (USDe): By staking USDe, users can obtain sUSDe, a yield asset that the protocol accumulates over time. This mechanism allows users to earn passive income while maintaining exposure to stable assets.
Delta Hedging Mechanism: Ethena uses Delta hedging, which uses short positions in the derivatives market to offset price fluctuations in collateral assets. The strategy maintains USDe's peg to the US dollar, ensuring stability even in volatile markets.
Non-custodial and decentralized: Ethena operates without reliance on traditional financial infrastructure, providing users with full control over their assets.
Supported collateral assets
Ethena primarily supports Ethereum as collateral for minting USDe. Users can deposit ETH into the protocol to generate USDe and then stake it to receive sUSDe, thereby participating in the protocol's yield generation mechanism.
ENA Tokens and Their Utility
Ethena's native governance token, ENA, plays several key roles in the ecosystem:
Governance: ENA holders can participate in protocol governance and influence decisions related to system upgrades, parameter adjustments, and overall strategic direction through voting.
Staking Rewards: By staking ENA, users can earn sENA, which may accumulate additional rewards in the incentive mechanism within the protocol and provide higher reward multiples.
Summary
DefiLlama data shows that as of December 2024, Ethena Finance's TVL exceeds US$5.9 billion.
Jito
Jito is a liquid staking protocol running on the Solana blockchain, focusing on the Maximize Extractable Value (MEV) strategy. By allowing users to stake their SOL tokens in exchange for JitoSOL, a liquid staking token, Jito enables participants to earn staking rewards augmented by MEV income.
Main Features of Jito
MEV-driven staking rewards: Jito integrates a MEV strategy to increase staking rewards. By capturing and redistributing MEV profits, JitoSOL holders can earn higher returns than traditional staking methods.
Liquidity Staking with JitoSOL: After staking SOL, users will receive JitoSOL tokens representing their staked assets. These tokens remain liquid, allowing users to participate in various DeFi activities while still receiving staking rewards.
Non-custodial platform: Jito operates as a non-custodial platform, ensuring that users retain control of their assets.
Enhanced Network Performance: Jito helps improve network performance and reduce spam on the Solana blockchain by staking exclusively with validators running optimized software.
Supported Staking Assets
Jito primarily supports staking of Solana’s token, SOL. Users can stake any amount of SOL and receive JitoSOL in return.
JTO Token and Its Uses
Jito has launched its native token, JTO, which plays multiple functions in the ecosystem:
Governance: JTO holders can participate in protocol governance.
Staking Rewards: By staking JTO, users can earn additional rewards.
Summary
Jito has achieved significant growth in the Solana ecosystem. According to its website, as of December 2024, more than 14.5 million SOL tokens have been staked through Jito, with approximately 204 Solana validators participating. The platform offers an annualized yield (APY) of more than 8% on staking, reflecting its competitive advantage in the liquid staking market.
A signature feature of Jito is the integration of the MEV strategy to boost staking rewards. In addition, Jito’s commitment to open source development is also reflected in the release of Jito-Solana, the first third-party, MEV-enhanced validator client for Solana.
Babylon
Babylon is a groundbreaking protocol that brings Bitcoin staking to the DeFi ecosystem. By allowing Bitcoin holders to directly stake their assets, Babylon lets users earn yield while contributing to the security of the Proof-of-Stake blockchain. This innovative approach eliminates the need to bridge, wrap, or transfer BTC to a third-party custodian, thereby maintaining Bitcoin's inherent security and decentralization.
Babylon Key Features
Self-custody staking: Babylon's protocol allows BTC holders to stake their assets without handing over control to an external entity. Users lock up their Bitcoin in self-custody, ensuring full ownership and security throughout the staking process.
Integration with PoS chains: By staking BTC, users can participate in securing various PoS blockchains, including application chains and decentralized applications (DApps). This integration enhances the security of these networks and rewards stakers in return.
Fast unbinding: Babylon adopts the Bitcoin Timestamp Protocol to enable fast unbinding of staked BTC. This feature ensures that users can quickly withdraw assets without relying on social consensus, thereby maintaining liquidity and flexibility.
Scalable re-staking: The modular design of the protocol supports scalable re-staking, allowing a single BTC stake to secure multiple PoS chains simultaneously. This feature maximizes earnings potential.
Supported staked assets
Babylon focuses on using Bitcoin for staking purposes.
Summary
Babylon has achieved significant results, including the successful launch of its mainnet and the launch of multiple staking caps. Notably, the protocol's TVL exceeded $5.7 billion in December 2024.
Benefits of DeFi Staking
1. Potential for high returns through yield farming: DeFi staking often offers substantial rewards, especially when combined with yield farming strategies.
2. Increased control over funds: Users retain full ownership of their funds through decentralized wallets without relying on third-party custodians.
3. Participation in governance: Staking governance tokens enables users to vote on protocol decisions and influence the future development of the platform.
4. Contribution to network security and operations: By staking, users can help protect blockchain networks and maintain decentralized operations.
5. Liquidity staking tokens: Liquidity staking tokens enable users to access staking capital while continuing to earn rewards.
6. Flexibility of yield strategies: DeFi staking provides opportunities for multiple innovative strategies, such as compounding by re-staking or using staking tokens to participate in other DeFi activities.
7. Entering emerging ecosystems: Staking supports innovation by helping to guide new protocols and ecosystems.
Risks of DeFi staking
1. Smart contract vulnerabilities: Malicious attacks or vulnerabilities in smart contracts may result in the loss of staked assets.
2. Impermanent loss in liquidity pools: Changes in token prices may reduce the value of assets in the liquidity pool, thereby affecting overall returns.
3. Volatility in token prices: The volatility of cryptocurrencies may affect the value of staking rewards.
4. Slashing penalties: In some networks, improper validator behavior may result in penalties that reduce the amount of staked funds.
5. Protocol-specific risks: Emerging platforms may lack sufficient audits or experience, increasing the risk of operational failure.
6. Lack of liquidity: Staked assets may be locked for a period of time, limiting the immediate availability of funds.
Strategies to reduce DeFi staking risks
1. Diversify staking across multiple platforms: Diversify your staked assets across different protocols to reduce the impact of a single platform failure.
2. Research platform audits and security history: Choose platforms that have a good security record and are regularly audited by third parties to ensure the safety of your funds.
3. Pay attention to token economics and protocol changes: Closely monitor token supply changes, reward mechanisms, and governance decisions that may affect your staking strategy.
4. Take advantage of liquidity staking options: Use protocols that provide liquidity staking tokens to maintain liquidity and flexibility while earning rewards.
5. Set risk limits: In order to manage risk exposure, determine the maximum percentage of your portfolio allocated to staking and strictly adhere to it.
6. Use reputable wallets and hardware security devices: Store your staked assets in a secure wallet to prevent potential hacking or phishing attacks.
DeFi staking allows you to earn rewards by supporting blockchain networks, and while the specific steps may vary by protocol, the following provides a general guide:
Step 1: Choose a Staking Protocol
Research different staking platforms and choose one that aligns with your goals, such as liquidity staking (like Lido Finance or Jito) or yield tokenization (like Pendle Finance).
Consider factors such as supported assets, security measures, and potential returns.
Step 2: Set up a wallet
Choose a non-custodial wallet that is compatible with the protocol you plan to use, such as MetaMask for Ethereum-based platforms or Phantom for Solana.
Keep your wallet secure by backing up your mnemonic phrase and enabling two-factor authentication.
Step 3: Get tokens
Buy the tokens you need for staking (e.g. ETH for Lido, SOL for Jito) through a cryptocurrency exchange.
Transfer the tokens to your wallet.
Step 4: Connect to the Staking Protocol
Visit the protocol’s official website (e.g., lido.fi, jito.network).
Follow the prompts to authorize the connection and connect your wallet to the platform.
Step 5: Stake Assets
Select the token you want to stake and determine the amount.
Confirm the staking transaction and make sure you have enough funds to cover the transaction fees.
In the Liquid Staking Protocol, you will receive a derivative token (e.g., stETH or JitoSOL) that you can use in the DeFi ecosystem.
Step 6: Monitor and Manage Your Stake
Regularly track your staking rewards and portfolio performance through the dashboard or protocol’s interface.
Consider leveraging yield tokenization features of protocols like Pendle to develop additional strategies.
How to Maximize DeFi Staking Yield
1. Diversify your staking portfolio: Spread your investments across multiple protocols to minimize risk and optimize returns.
2. Reinvest rewards: Use earned rewards to increase returns by re-staking or participating in yield farming opportunities.
3. Stay informed: Pay attention to updates on protocol governance, token economics, and network upgrades that may affect staking rewards or security.
4. Optimize gas fees: Schedule transactions when network activity is low to reduce transaction costs.
5. Explore advanced strategies: Consider using protocols such as Pendle Finance to lock in fixed income or use tokenized assets to speculate on future returns.
7. Use liquid staking tokens in DeFi: To accumulate additional returns on top of staking rewards, deploy derivative tokens (such as stETH, JitoSOL, etc.) in lending or yield farming.
The above steps and tips will help you get started on your DeFi staking journey and fully unlock the potential to generate passive income in the DeFi ecosystem.
This article explores some of the top platforms that may attract much attention in 2025, including Lido Finance, Pendle Finance, EigenLayer, Ether.fi, Ethena, Jito, and Babylon. While each protocol provides basic staking services, it also has some unique features, such as yield tokenization, re-staking, or Bitcoin staking. Mastering and effectively utilizing these features will be the key to unlocking real returns. As the cryptocurrency market enters a new round of bull market, the DeFi field in 2025 is showing unlimited possibilities. Driven by continued innovation and widespread adoption, DeFi staking is expected to become an important way for us to obtain rich returns.
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