Polkadot's Largest LST - vDOT Sets Record with $2.2M Supply Cap in Just 15 Hours
On January 10th, 2025, the largest liquid staking token (LST) on Polkadot, vDOT, achieved a significant milestone by reaching a supply cap of $2.2 million on Hydration Money Market within 15 hours of its launch.
Bifrost has listed vDOT as a collateral asset, allowing DeFi participants on Polkadot to unlock new strategies. By staking Polkadot (DOT), users obtain vDOT, which can be utilized as collateral to borrow additional DOT, creating a cycle for optimizing returns.
This development enhances market liquidity, boosts user adoption, and reinforces vDOT’s position as a cornerstone asset within the Polkadot ecosystem. The introduction of vDOT fosters synergies and opportunities for earning dual yields without sacrificing liquidity.
With a total locked value exceeding $50 million, vDOT not only represents staked DOT on the Polkadot Relay Chain, but it also accrues staking rewards. This positions users to maximize their capital while enjoying the benefits of staking.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.