According to CoinShares analysts, decoupling “staking Ether” in Lido Finance is different from the situation with the loss of Terra USD parity with the US dollar.
The company experts have noted that stETH does not need to maintain a 1:1 ratio to ETH in order to work correctly. The coins locked in staking continue to secure the network, while the derivative version of Ethereum can be transferred to various DeFi projects in order to generate additional income.
The specialists have predicted the discount will remain until the possibility of withdrawing ETH from the deposit contract appears. They explained the persistence of the observed discrepancy by the “lack of arbitrage opportunities” to eliminate it.
CoinShares has noted community concerns about the growing dominance of Lido Finance among Staking-as-a-Service (SaaS) platforms.