Lido releases 2025 report: total revenue decreased by 18.2% year-on-year, with a market share of 24.12% for ETH staking

The GOOSE-2025 & EGGs-2025 report released by Lido shows that in 2025, Lido faces an APR compression in the Ethereum staking market, with funds flowing from Simple LST to exchanges and institutional staking, as well as intensified competition, resulting in a year-on-year decline in total revenue of 18.2% (a 17.4% decline in ETH terms), with a market share of 24.12% for ETH staking volume.

At the same time, the report announced adjustments to the foundation's leadership and stated that in 2026, it will continue to focus on scaling the stETH product line, completing the construction of the validator market, and advancing LDO incentive alignment under treasury surplus constraints.