Lido
Best for audited protocol with published methodology
How it rates
- Audit report linked from a public dataset
- Accounting methodology published
- TVL of $18,194m recorded independently
- Several indicators could not be verified from public sources at this check
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetIndependent audit report linked publicly
Audit report linked from the public protocol dataset.
github.com/lidofinance/audits - Met
- MetTracked by an independent analytics platform
Listed with published TVL and history.
defillama.com/protocol/lido - Met
- Met
- Met
- MetProtocol economics published independently
TVL and change history published.
defillama.com/protocol/lido - Met
- PartialFee or reward model documented publicly
Application reachable for review; specific rates not captured at this check.
lido.fi/ - Met
- Met
- Met
- Met
- Met
- PartialListed on the dataset for over a year
Listing date recorded in the dataset.
defillama.com/protocol/lido
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
The largest liquid staking protocol, holding $18.2bn across five chains with published audits and a long operating history on Ethereum.
Our assessment
Lido holds $18.2bn across five chains, more than any other protocol in this entire comparison, with two audits and reports linked. It turned staked ETH into a liquid asset that the rest of DeFi could use as collateral, and in doing so became the thing Ethereum researchers worry about.
What liquid staking solved
Staking ETH directly locks capital and requires running infrastructure. Lido pools deposits, distributes them across professional operators, and issues a token representing the staked position — which can then be lent, used as collateral or traded. Without that, the capital would sit idle, and the entire staking-derivative sector exists because of it.
The concentration question
A single protocol controlling a large share of staked ETH is a systemic concern for a network whose security assumes distributed validation. Lido addresses it through a curated multi-operator set and ongoing decentralisation work; researchers continue to argue it is insufficient. Both positions are made in good faith, and anyone staking a large amount should understand they are participating in that dynamic.
What actually threatens a depositor
Not concentration but the specifics: smart contract failure, correlated slashing across operators, and the derivative trading below the value of the underlying during stress — which has happened to staking derivatives before. The peg is maintained by arbitrage and withdrawal availability, not by a guarantee.
Who it suits
Lido fits stakers who want deep liquidity and the widest DeFi integration for their staked position. Users who prioritise validator decentralisation should compare Rocket Pool or a solo staking arrangement.
How rivals compare
Frequently asked
Does this score mean Lido is safe?
No. It measures what an outsider can verify: linked audits, published methodology and independently recorded market data. Contract risk is not tested by us.
Where do the TVL and audit figures come from?
A public analytics dataset queried at the verification date, plus the audit reports it links. Both are re-runnable by anyone.
Why do some protocols score zero on audits?
Because no audit report is linked in the public record. The indicator records what a user can reach, not a claim that no audit exists.