TVL concentration (top-10 wallet share)

Lido's assessment for RD-F-064 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

Asset concentration: 100% ETH by design. Chain concentration: 99.98% Ethereum mainnet. Depositor-address concentration not quantifiable from public sources (Dune 403, no public holder ranking). Structural reasoning supports low depositor concentration at $21B TVL with global stETH distribution, but systemic downstream collateral concentration (wstETH = 3rd-largest Aave collateral) is a material YELLOW signal.

Sources #

URL
https://www.datawallet.com/crypto/ethereum-staking-statistics-and-trendsretrieved 2026-04-28
URL
https://aave.com/blog/lido-aave-case-studyretrieved 2026-04-28

Methodology #

Compute the percentage of protocol TVL held in the top-10 depositor addresses.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol lido factor RD-F-064 score yellow collected_at 2026-04-28 13:58:42