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Dear Bankless Nation,
Liquid staking derivatives (LSDs) have been one of the hottest conversations of 2023. These protocols take deposited ETH, stake it to secure the network, and pass along staking rewards to holders of their LSD (minus some fees). This massively simplifies the staking process for users, also allowing them to use their LSDs elsewhere in DeFi.
Today, we take a look at some of the promising LSD issuers that are competing with market leader Lido on tech, economics and simplicity.
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