Solana’s staking and restaking business models are more profitable than Ethereum’s, according to a recent analysis. Solana’s TVL (Total Value Locked) has grown significantly, surpassing Orca and ranking twelfth on the Solana chain. The staking track, a native segment of the crypto industry, is also the largest in terms of TVL.
Staking tokens like LDO, EIGEN, and ETHFI have performed well despite the current market conditions. Ethereum’s liquid staking project Lido, restaking project Eigenlayer, and liquid restaking project Etherfi are leading the market. Lido’s business logic focuses on capital efficiency and composability, while Eigenlayer offers native restaking on the Ethereum network.
Lido’s revenue comes from consensus layer revenue and execution layer revenue, while Eigenlayer relies on transaction sorting income and leasing pledged assets. When comparing Ethereum and Solana, it is clear that Solana’s staking and restaking projects have a larger market and potential market due to higher PoS underlying income, increased transaction sorting income, and the ability to lease pledged assets.
Solana’s staking-related protocols can also be expanded according to business logic, offering more opportunities for growth. Although Solana’s restaking has not yet found a Prime Market Fit (PMF), it is evident that Solana’s staking and restaking business models are more successful than Ethereum’s.