What is Lido DAO (LDO)?

Lido is a Decentralized Autonomous Organization (DAO) project that allows liquid staking solutions for many blockchain networks like Ethereum (ETH), Terra, Solana (SOL), Polygon (MATIC), and others but is primarily focused on Ethereum. It is a secure DeFi liquid staking solution for proof-of-stake (PoS) blockchains that enables users to earn staking rewards without making minimum deposits or maintaining staking infrastructure. 

Lido allows users to hold on to liquidity even while their coins are being staked.

Liquid staking is very useful to users that want to stake their coins but also need them for other opportunities in the crypto market- meaning users can earn staking rewards while using the same funds somewhere else. Lido manages this by issuing stTokens, which represent staked coins.

Ordinarily, staking in Ethereum requires 32 ETH, which is more than many crypto investors can afford, but Lido lowers the entry price for staking. Users can stake smaller amounts as Lido protocols pull together small deposits to launch validators.

The DAO members manage Lido to ensure its efficiency and stability. Apart from just technical development, the Lido DAO’s mandate is to grow Lido and recruit new users, node operators, and validators with educational content, promotional campaigns, and affiliate marketing.

LDO is Lido’s native cryptocurrency, which it uses to govern Lido DAO and oversee its development. It is also used to manage fee parameters and distributions.

LDO holders can also participate in the governance process. They can vote on the node operators, the protocol’s fee structure, Oracle revive providers, and primary decisions related to the protocol.

In general, Lido DAO is a Decentralized Autonomous Organization that determines the main parameters of liquid staking protocols through the voting power of governance tokens, or LDO tokens.


Who are the founders of Lido DAO (LDO)?

The individuals and organizations behind the Lido DAO are proven within the DeFi space. They have a great reputation and track record of excellence. And this project will launch in December 2020.

Kasper Rasmussen is the founder of the Lido liquidity staking platform and their members include Semantic VC, ParaFi Capital, Libertus Capital, Terra, Bitscale Capital, StakeFish, StakingFacilities, Chorus, P2P Capital, and KR1.


What is Lido DAO (LDO) used for?

Lido is used for staking with no minimum deposits and maintenance of infrastructure which means users can participate in on-chain activities such as compound returns and lending.


How is Lido DAO (LDO) unique?

The members of DAO build liquid staking services and govern the ecosystem fully and Lido DAO is the backbone of the community.

As mentioned above, Lido allows users to earn staking rewards without locking assets or maintaining staking infrastructure. Users can stake without losing the ability to trade or use their tokens. 

Lido is a decentralized infrastructure for issuing a liquid token that is safer than exchange staking and has incredible flexibility compared to self-staking. It provides an alternative to exchange staking, self-staking, and other semi-custodial and decentralized protocols.


How many Lido DAO (LDO) coins are in circulation?

The current circulating supply of Lido DAO is 831 million and a maximum supply of 1 billion LDO.


How is the Lido DAO (LDO) network secured?

The security of Lido is Lido DAO’s highest priority beginning at the time of its deployment.

Lido funds are secured in a smart contract and are not accessible to validators. Then, the Lido DAO will select, onboard, support, and add the validators’ addresses to the registry smart contract, after which the selected validators will be given a set of keys for validation.

Lido also stakes across many professional and reputable node operators with heterogeneous setups to reduce the risk of staking penalties, with additional mitigation in the form of insurance that is paid from Lido fees.


How do I buy Lido DAO (LDO)? 

The Lido DAO (LDO) token can be used for a wide range of uses, like staking and payments.

Lido DAO (LDO) tokens can be easily purchased with the following steps. 

* Open an account with the crypto trading platform of your choice.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy Lido DAO (LDO) through your trading account.


Which Cryptocurrency Wallet Supports Lido DAO (LDO)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as Lido DAO. Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies.  Users can easily use PTPWallet as their LDOwallet because it offers a simple interactive interface, making it easy for people to navigate its system.


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