Lido is the largest liquid staking protocol for Ethereum, enabling users to stake any amount of ETH and receive stETH (staked ETH) in return — a liquid token that earns staking rewards while remaining usable in DeFi. LDO is the governance token of Lido DAO, used to vote on protocol parameters, fee structures, and node operator management. Lido also supports liquid staking for other PoS networks.
When users deposit ETH into Lido, the protocol distributes it across a curated set of professional node operators who run Ethereum validators. Users receive stETH at 1:1 ratio that continuously accrues staking rewards through a rebasing mechanism (balance increases daily). stETH can be used in DeFi protocols, used as collateral, or swapped back to ETH via DEXs. Lido DAO governs the protocol through LDO token voting, deciding which operators can join, fee parameters, and protocol upgrades. Lido charges 10% of staking rewards split between node operators and the DAO treasury.
Ethereum's PoS requires 32 ETH minimum to run a validator (~$50,000+ at current prices), excluding most retail participants. Lido solves this liquidity and access problem by allowing any amount of ETH staking while returning a liquid token (stETH) that can still be used in DeFi. Without liquid staking, staked ETH is locked and cannot participate in the broader DeFi ecosystem.
The dominant Ethereum liquid staking protocol controlling over 30% of all staked ETH, issuing stETH — the most widely integrated liquid staking derivative in DeFi, used as collateral across Aave, Curve, and dozens of other protocols.
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Supply figures and project details are approximate and may not reflect the latest changes. Always verify from official sources before making decisions. This information is for educational purposes only — not financial advice.