Lido was founded by Kasper Rasmussen, also known as CryptoCobain, and Jordan Fish. Behind Lido DAO are a number of individuals and organizations with a reputation in the DeFi space.
Lido DAO members include Semantic VC, Chorus, ParaFi Capital, P2P Capital, Libertus Capital, Terra, StakeFish, Bitscale Capital, StakingFacilities, and KR1. Some of the highly regarded angel investors include Stani Kulechov from Aave, Banteg from Yearn, Will Harborne from Deversifi, Julien Bouteloup from Stake Capital, and Kain Warwick from Synthetix.
How Does the Lido Protocol Work?
Liquidity staking services offered through phone number list the Lido protocol allow users to earn block rewards by staking PoS assets, while addressing issues such as illiquidity, complexity, and centralization. Lido DAO offers an innovative solution that allows users to access tokens typically locked, reducing the barrier to entry and costs associated with staking requirements.
When staking Lido tokens on the Lido DAO platform , users benefit from a staking pool smart contract that stakes the tokens on the relevant PoS blockchain. Lido coin is the central tool for DAO governance in this sense. Users will also receive a digitized version of their deposited funds (stAsset tokens), which can be used to earn rewards not only from the original protocol, but also from other DeFi protocols and decentralized applications (dApps) such as lending and yield farming. This allows users to maximize their earning potential.