In an effort to scale the amount of quality, long-form research, we are proposing Lido joins the Messari Hub. This would serve to better inform the crypto ecosystem on major developments and ongoing fundamental changes, effectively attracting more builders, entrepreneurs, and investors providing value to the overall network.
Rationale:
Currently, there is a high barrier for those within existing project communities and the broader crypto world to stay informed and up to date with all of the major fundamental and protocol-level changes. While there are various analytics dashboards, blog posts, and messaging channels, it is still cumbersome to have a strong understanding of all the important happenings going on. This leads to a misallocation of resources, both time and money, since there are investors, developers, and users that are not acting with the full breadth of knowledge at their disposal.
To alleviate this problem, many of the largest projects and DAOs are expending additional resources to better surface a lot of this core information. These initiatives are serving to increasingly professionalize this industry, however, what is still missing is the proper contextualization of this data from an independent third party that would allow an outsider to gain better insight into what’s going on.
Research questions:
- How does liquid staking on Lido work and what differentiates it from other liquid staking providers?
- How big is liquid staking on Solana and how does that compare to other chains?
- Who are the biggest liquid staking providers on Solana?
- How is stSOL distributed across the ecosystem?
- What are the major KPI/fundamental metrics that can be standardized and tracked across time?
- What was the impact of recent protocol/governance changes?
- What are the implications of future roadmap initiatives?
Proposal:
We propose the following reports to be commissioned through the Messari Hub for $150k
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Initiation of Coverage report that provides an overview of liquid staking and the existing landscape while narrowing in on the approach that Lido is taking looking at the token economic design.
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Solana staking report to assess the size of the Solana liquid staking market breaking it down by the major players.
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4 quarterly reports that present and analyze key KPIs and fundamental metrics (supply of staked assets, number of stakers, unique users, etc.), governance developments, upgrades, and key roadmap initiatives on a recurring basis.
All reports would live as free resources on Messari and would be distributed through our newsletter (~200k subscribers) and various social channels. We would also set up a data dashboard (example) to view the metrics discussed in the quarterly report in real-time as well as set up quarterly analyst calls with any member of the team/community to discuss the report and answer any questions.
We’d love to hear any and all thoughts on this proposal and if there are any changes or additions to the research topics that you think would be value-add for the community!