The liquid $ETH staking sector has seen its total value locked (TVL) fall in the past month, but agility_lsd, which had a meteoric rise in April post-Shapella, has been hit the hardest, dropping 99%. reports
Also, the price and trading volume of AGI, the native token for the protocol, have both slid more than 99%, according toAgility’s Discord admin who goes by the screenname Nook-Stealth Cooking said the drop in TVL occurred “because we [stopped] rewarding farmers,” which was “a request from our community.” While Agility announced on May 10 thatas a result of a Twitter poll, its TVL, token price and trading volume were already declining before May 10.
Meme coins may be another reason for the decrease, according to Nook-Stealth Cooking, who said, “meme[s] gets most of the attention during this month, including liquidity.” Meme coin Pepecoin did emerge out of nowhere in recent weeks, topping $1 billion in market cap. But Agility is suffering far more than its competitors in the staking space. The top 10 liquid staking protocols by TVL, according to, have seen their TVL drop on average by roughly 10%, a much smaller percentage change than Agility.
CoinGecko still has a warning on the AGI token page, saying “The smart-contract owner can mint new tokens, please proceed with caution.”
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