**[Lido: Revenue of $40.5 million last year, down 23% year-on-year]** Odaily Planet Daily reported that Lido stated its total revenue last year was $40.5 million, a 23% decrease compared to the previous year's $52.4 million. Its gross revenue fell by 18.2%, attributed to factors such as user fund withdrawals leading to net staking outflows and a decline in staking yields. Lido pointed out that structural changes in Ethereum staking are expected in 2025, including network APR compression, a shift of funds from Simple LST to exchanges and institutional staking, and intensified competition reducing the scale of its leading niche market. The protocol noted its market share is shrinking, with the proportion of Simple LST in total staking continuing to decline. Lido stated it is evaluating an LDO buyback plan, which may be initiated in the second quarter of this year. The plan involves using staking rewards generated by the protocol to purchase LDO on the open market and allocate them to DAO-held LDO and wstETH liquidity positions. The protocol implemented a 15% workforce reduction last August to ensure long-term sustainability. Lido expressed its 2025 goal of expanding beyond core staking products to offer new services targeting institutional investors and users seeking higher yields. It disclosed that WisdomTree, which manages assets worth $140 billion, launched an Ethereum-based ETP in Europe and obtained staking rewards through the decentralized Lido protocol. (The Block)