The price for Lido DAO (LDO) saw a steady surge throughout the summer of 2022, a time when most crypto majors and altcoins were in a steep decline. Find out why and discover LDO’s connection with the Ethereum Merge.
Lido DAO is a liquid, non-custodial staking platform for Ethereum 2.0 and other Proof-of-Stake chains.
Users can stake Ethereum and other supported tokens without having to lock their coins up, creating liquidity for the tokens. Users enjoy a simplified way of staking ETH and other assets and they can use their staked tokens across DeFi.
How it works:
By staking on the Lido platform, users receive daily rewards in the form of derivative tokens called stETH (staked ETH), which are pegged 1:1 to the staked crypto asset. In the case of Ethereum, the stETH is a tokenized version of staked Ethereum and these “liquid” tokens can be freely traded during the staking process.
Lido stakers can enjoy an Ethereum-based staking program that is easier, more assessible, and more convenient that staking actual ETH.
Launched originally on Ethereum, Lido has expanded to other chains, adding Terra and Solana in 2021. Since then, they’ve also added Polygon (POL), Polkadot (DOT), and Kusama (KSM). Each blockchain network has its own derivative token, such as stSOL on Solana.
Never miss a fresh Coin Profile - sign up for the Crypto Weekly!
Lido’s decentralized autonomous organization (DAO) controls the smart contract that runs the staking program. Elected staking providers, who do not have direct access to user funds, oversee protocol changes and implementation, as well as the treasury.
Project status
Team
Making headlines
Competitive?
According to DefiLlama, LDO is the second largest liquid staking protocol by TVL (total value locked), just behind MakerDAO and closely followed by AAVE.
Hiring?
Lido DAO currently has 8 open positions, including both CeFi and DeFi business development managers and several analyst positions.
Social traction
Lido platforms have over 160k+ social followers. Their Twitter account has 106K followers but little organic engagement.
Ever been hacked?
No.
QUADX is coming, are you ready? Buy QUAD now to qualify for industry-low transaction fees and premium bot discounts.
LDO is a DAO token that grants voting rights to all token holders while providing additional utility through the staking protocol. The DAO itself governs liquid staking across multiple blockchain networks and decides on and executes protocol upgrades. The more LDO you hold, the more voting power you will have in the DAO.
Total/Max supply
1 Billion
Token allocation
Token vesting
With the exception of the DAO Treasury allocation, all tokens were locked for 1 year followed by a 1-year vesting period.
Funding
The Lido project has raised a total of $143 million:
Token utility
Decentralized?
Lido is one of the few Web3 platforms that tracks its own progress in terms of decentralization. They’ve published a “Lido on Ethereum Scorecard” to self-monitor in a transparent way while inviting community input.
Burning Mechanism
No
Code Audit
Lido DAO has employed a series of audits, which can be reviewed here.
Bug bounty?
Yes, they use a bounty program through Immunefi.
Much of Lido’s future path will be dictated by the outcome of the Ethereum Merge. Lido’s post-merge status and plans are detailed on their blog.
Website
$LDO on Quadency
Blockchain explorer
Documentation
Github
Twitter
Discord
Lido DAO is a liquid, non-custodial staking platform for Ethereum 2.0 and other Proof-of-Stake chains.
Users can stake Ethereum and other supported tokens without having to lock their coins up, creating liquidity for the tokens. Users enjoy a simplified way of staking ETH and other assets and they can use their staked tokens across DeFi.
How it works:
By staking on the Lido platform, users receive daily rewards in the form of derivative tokens called stETH (staked ETH), which are pegged 1:1 to the staked crypto asset. In the case of Ethereum, the stETH is a tokenized version of staked Ethereum and these “liquid” tokens can be freely traded during the staking process.
Lido stakers can enjoy an Ethereum-based staking program that is easier, more assessible, and more convenient that staking actual ETH.
Launched originally on Ethereum, Lido has expanded to other chains, adding Terra and Solana in 2021. Since then, they’ve also added Polygon (POL), Polkadot (DOT), and Kusama (KSM). Each blockchain network has its own derivative token, such as stSOL on Solana.
Never miss a fresh Coin Profile - sign up for the Crypto Weekly!
Lido’s decentralized autonomous organization (DAO) controls the smart contract that runs the staking program. Elected staking providers, who do not have direct access to user funds, oversee protocol changes and implementation, as well as the treasury.
Project status
Team
Making headlines
Competitive?
According to DefiLlama, LDO is the second largest liquid staking protocol by TVL (total value locked), just behind MakerDAO and closely followed by AAVE.
Hiring?
Lido DAO currently has 8 open positions, including both CeFi and DeFi business development managers and several analyst positions.
Social traction
Lido platforms have over 160k+ social followers. Their Twitter account has 106K followers but little organic engagement.
Ever been hacked?
No.
QUADX is coming, are you ready? Buy QUAD now to qualify for industry-low transaction fees and premium bot discounts.
LDO is a DAO token that grants voting rights to all token holders while providing additional utility through the staking protocol. The DAO itself governs liquid staking across multiple blockchain networks and decides on and executes protocol upgrades. The more LDO you hold, the more voting power you will have in the DAO.
Total/Max supply
1 Billion
Token allocation
Token vesting
With the exception of the DAO Treasury allocation, all tokens were locked for 1 year followed by a 1-year vesting period.
Funding
The Lido project has raised a total of $143 million:
Token utility
Decentralized?
Lido is one of the few Web3 platforms that tracks its own progress in terms of decentralization. They’ve published a “Lido on Ethereum Scorecard” to self-monitor in a transparent way while inviting community input.
Burning Mechanism
No
Code Audit
Lido DAO has employed a series of audits, which can be reviewed here.
Bug bounty?
Yes, they use a bounty program through Immunefi.
Much of Lido’s future path will be dictated by the outcome of the Ethereum Merge. Lido’s post-merge status and plans are detailed on their blog.
Website
$LDO on Quadency
Blockchain explorer
Documentation
Github
Twitter
Discord
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
