DeFi shake-up: Lido cuts staff, Curve rethinks L2s
Two of the decentralized finance (DeFi) sector’s best known platforms, liquid staking protocol Lido and decentralized exchange Curve Finance, are considering slimming down. Despite a recent resurgence in DeFi markets, Lido co-founder Vasiliy Shapovalov announced a 15% cut of contributors, and a fresh Curve governance proposal suggests cutting development on Layer Two (L2) networks. As part of efforts to ensure long-term sustainability, Lido Labs, Lido Ecosystem, and Lido Alliance have made the hard decision to reduce the size of their contributor teams, impacting around 15% of the workforce. This decision was about costs — not performance. It affects… — Vasiliy Shapovalov (@_vshapovalov) August 1, 2025 Read more: DeFi is paying big to accumulate USDC A drop in the ocean Lido is the second largest DeFi protocol by total value locked (TVL) at $32 billion according to DeFiLlama, the sector’s leading data dashboard. While it’s active on other chains, ...