Lido DAO (LDO) is a liquidity staking protocol that has an important place in the decentralized finance (DeFi) ecosystem. LDO coin is the governance token of this protocol. The Lido platform aims to enable users to use their staked assets by supporting a range of PoS cryptocurrencies . The platform offers a liquid staking solution that provides users with a system that allows them to earn rewards from their staked coins, while also receiving a tokenized version of the staked coins that can yield returns on other DeFi protocols.
Lido DAO is an innovative decentralized buy phone number list autonomous organization that offers a liquid staking solution on the Ethereum 2.0 blockchain, as well as other Proof of Stake (PoS) platforms such as Polygon (MATIC), Polkadot (DOT) . Lido DAO initially locks up assets, allowing users to liquidate their assets and use them for other protocols. Through this yielding process, users can deposit crypto tokens into the network at a 1:1 ratio to receive a tokenized version of their staked tokens, which can then be used to participate in other DeFi on-chain activities to earn additional yield. For example, while ETH staked on Ethereum 2.0 normally remains locked, Lido gives users a liquid token called stETH.
Since its establishment in December 2020, shortly after the launch of ETH 2.0, the platform has been overseen by the Lido DAO, along with several key members including P2P Capital, KR1, and Semantic Ventures.