Lido DAO – 84%
February 9th, 2021
Lido DAO is a community that builds a liquid staking service for Ethereum. Lido allows users to earn staking rewards without locking assets or maintaining staking infrastructure. Staking with Lido is primed to start along with Phase 0 of Ethereum 2.0. Upon depositing ether into Lido’s smart contracts, a user receives stETH (staked ETH) ERC20 tokens that represent the user’s staked ETH. LDO is the native utility token that is used for granting governance rights in the Lido DAO and managing fee parameters and distribution.
Lido is a solid project that helps reduce the risk associated with staking for ETH 2.0 as it aims to allow users to stake ether without losing the ability to trade or otherwise use their tokens. A few other projects offer similar solutions, but Lido is definitely a good option if you are looking to stake for ETH 2.0 and need more flexibility than self-staking.