Description
What is Lido?
Lido is a liquid staking solution for crypto tokens supported by industry-leading staking providers. Lido allows you to stake your crypto tokens – without locking your assets – while still participating in on-chain activities such as lending.
Lido seeks to solve the problems associated with initial crypto staking – illiquidity, immobility and inaccessibility. This makes crypto staking liquid and allows participation with any amount.
What is staking?
Staking means that users:inside provide a certain amount of tokens to a network for a certain amount of time and receive a reward in return. With Lido’s liquid staking, the special feature is that you can receive staking rewards without completely locking your tokens. When you deposit your tokens and „lock“ them for staking, you get a tradable liquid token from Lido in return.
The DAO-controlled smart contract deploys your tokens using selected staking providers. Since your funds are controlled by the DAO, Lido and the staking providers do not have access to your tokens.
