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Lido DAO has been created as an accompaniment to the upcoming ETH 2.0 which moves Ethereum to a Proof of Stake consensus. In the first phase (Phase 0) of Ethereum staking, a minimum of 32 ETH is required to become a full validator (and thus earn staking rewards). Those wishing to stake more than 32 ETH must also stake in multiples, so 64, 128 ETH – and so on.

Of course, this is a substantial amount of capital, even for committed crypto users and traders. For many, it’s far too much to lock up at any given time, especially due to the prohibitive – and as yet undefined – lock up times. It’s way beyond the reach of most users – this is where Lido comes in.

Lido Lets Liquidity Loose

Lido is a liquid staking solution that opens up access to ETH staking for those who hold smaller amounts of Ethereum, while also allowing users to maintain liquidity through the provision of its derivative token, stETH. This means the Lido DAO allows users who locked their ETH to be able to stake it into other protocols to continue earning yield. The ‘liquid’ part of the staking refers to the fact that users can receive tokens that are liquid in return for their deposited token. When ETH 2.0 rolls out, users can then return the stETH to the to the Lido DAO in return for ETH 2.0 coins.

Although Lido DAO began as a liquid staking solution for Ethereum, it has expanded its operations to both the Terra and the Solana networks. The fun doesn’t stop there, either, as Lido plans to continue expanding its operations to more networks, with the Kusama network being the most recent addition.

Lido Yield Rates

Lido offers interest on deposits that outcompete other networks and, unlike other liquid staking solutions for these chains, Lido DAO remains decentralized, with the treasury being governed by the DAO. Voting power in the DAO is accumulated through its native token, LDO, which has a maximum supply of 1 billion.

Liquid staking essentially creates a new market of derivatives for ETH staking that can be used in DeFi, allowing smart traders to further compound their yield and maximize the return on their assets.

Need to Lidown?

Lido currently has over 2 million ETH staked in in its protocol, and has captured a frankly astonishing 86% of this nascent market, with the next largest provider, Rocketpool, accounting for a mere 4.6%. This domination of the liquid staking market is a testament to the careful maneuvers of its governing DAO and the above average interest rates it provides.

With Eth 2.0 just around the corner, Lido DAO and its liquid staking protocol looks set to garner more attention, especially with its expansion into other protocols. The LDO token might therefore be a savvy investment for any user who has faith in the long term health of the crypto market.

Download Numio to get Lido DAO

How can I get LDO?

Getting LDO is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for LDO*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your LDO.

*direct LDO purchases coming soon.

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