When Ethereum recently completed an upgrade known as Shapella, it was heralded as opening a new era of staking ETH. Up until that point, if you staked ETH to help run the blockchain, you couldn’t get it back. Shapella made it possible to unstake, making it more attractive to pledge ETH in the first place.
A project called Agility LSD was an immediate beneficiary. The amount of money stashed in its protocol – as measured by total value locked (TVL) – soared to a peak of $487 million last month, up from zero when its contracts launched earlier in April, according to data from DefiLlama.
But, just as fast
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