Why is CESR, the “risk free” rate of Ethereum, outperforming Lido?
Under normal conditions, Lido’s professional validators will always outperform CESR. But after 10% fees, Lido has been underperforming the mean, annualized return across the ecosystem’s ~1M validators.
Expect this to reverse as activity increases, along with priority transaction fees and MEV.
If only there was a market where this was tradeable…
Check out this week’s Rates Pulse by @Rho_xyz
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