LIQUID STAKING on TERRA!
summary
Lido runs liquid staking on Ethereum, Terra and Solana and reports a Terra setup with $3B TVL, 96% of bLuna locked in Anchor and 20% of staked LUNA represented by bLuna. bLuna sells accrued rewards to UST (rewards are claimable separately), causing lost yield in liquidity pools and an unhealthy validator concentration—70% delegated to top two validators. A new stLuna token auto-converts with bLuna, auto-restakes rewards and auto-selects underdelegated validators; deployment targets November after an audit, aiming for better DeFi and IBC integration.
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