“Currently
the
collateral
of
choice
on
Aave
V3,
Spark,
and
MakerDao,
1.3
million
stETH,
598,000
stETH,
and
420,000
stETH,
respectively,
are
locked
into
those
protocols
and
used
as
collateral
to
issue
loans
or
crypto-backed
stablecoins,”
it
added.
With
stETH
so
widely
used
across
the
biggest
DeFi
protocols,
staked
ether
is
slowly
forcing
the
rest
of
the
crypto
financial
ecosystem
to
reorganize
itself,
the
report
argued.
That’s
because
projects
need
to
convince
investors
that,
on
a
risk-adjusted
basis,
their
own
assets
will
offer
higher
returns
than
simply
staking
ether,
and
compounding
those
returns,
will
provide.