Degen Edition 2 - unshETH

Since the Beacon Chain launch in Dec 2020, Ethereum users could stake bundles of 32 ETH to secure the network in exchange for priority fee rewards. While these staked ETH[1] are ‘productive,’ many have opted against staking given its operational complexity and illiquidity. Liquid staking projects solve for this by managing validator uptime and offering liquid staking derivatives (LSDs) to stakers. However, most of LSDs today are congregated amongst the top few protocols. Lido, Coinbase and Rocket Pool occupy 95% of LSD ...