Ethereum News
Figment’s ETH staking versus Lido’s stETH
Figment delivers higher execution layer rewards for validators than the network average. In Q1 2026, Figment validators proposing blocks earned a median of 0.010827 ETH. This amount exceeded the network median of 0.010017 ETH by 7%. MEV-Boost accounts for over 90% of network execution layer rewards. Figment uses MEV-Boost activation to increase these rewards. Figment also achieved a 99.9% participation rate during Q1 2026. This rate exceeded the network average of 99.7%. About 32% of all Ethereum supply is staked, which spreads rewards across a larger validator set.
Figment leads in EL rewards.
Lido provides stETH. This yield sits at 3.0% to 3.5% net. You know the basics of liquid staking. Lido holds approximately 8.9 million ETH. The protocol splits its 10% fee between node operators and the DAO treasury. Lido’s market share reached 23% of all staked ETH in mid-2026. The protocol’s total value locked reached approximately 23.8 billion ETH. Lido’s reward structures vary by module. The Curated Module uses 36 professional operators, and the Community Staking Module uses 412 active operators. The Simple DVT Module uses distributed validator technology.
Lido fees reduce net yield.
The Pectra upgrade in May 2025 changed staking economics through three specific updates. EIP-7251 raises the maximum effective balance from 32 ETH to 2,048 ETH. Because the Pectra upgrade in May 2025 allows for a maximum effective balance of 2,048 ETH, large stakers can consolidate many smaller validator processes into a single instance. EIP-7002 lets validators trigger an exit via the execution layer without needing an operator signature. EIP-6110 reduces deposit activation times to minutes rather than hours. These changes help reduce consensus overhead.
| Feature | Figment (Q1 2026) | Lido (stETH) |
|---|---|---|
| Median EL Reward | 0.010827 ETH | N/A |
| Median SRR | 2.92% | 3.0% – 3.5% |
| Protocol Fee | None | 10% of rewards |
| Max Balance | 2,048 ETH | 2,048 ETH |
The MEV-Boost relay market also changed. For a 24-hour window ending August 29, 2026, neutral relays handled 70% of daily block production. This includes Ultra Sound Relay and Titan Relay. These neutral relays provide competitive payouts to validators. Since the Merge, MEV-Boost blocks received 0.1222 ETH per block on average, while non-MEV-Boost blocks received only 0.0384 ETH. Other liquid staking options exist for users. Rocket Pool offers rETH, which uses a value-accruing model. Rocket Pool charges a 5% base rate and up to 9% additional for operators who stake RPL tokens. Binance offers BETH, which has a 10% commission. Coinbase offers cbETH, which has a 25% commission.
Risk management remains a primary concern for institutional stakers. Figment operates a non-custodial infrastructure with a "Safety Over Liveness" philosophy. This approach prioritizes slashing avoidance over short-term performance gains. Figment recorded zero double-sign slashing penalties in Q1 2026, while the network saw 33 slashing events. Lido also faces risks like smart contract vulnerabilities or oracle failures. In July 2026, Lido resolved a yield-reporting discrepancy involving an accounting-oracle report.
Figment supports multiple clients like Lighthouse and Prysm to reduce dependency on a single codebase. This multi-client approach helps mitigate the impact of client-specific issues. Figment’s average SRR in Q1 2026 was 2.92%, which was slightly higher than the network average of 2.91%. Figment outperforms the network in execution layer earnings. Figment provides the best choice for institutional users seeking high-performance validator infrastructure. Lido provides the best choice for users needing liquidity. Does Lido’s market share continue to slide?
