Put ETH together with Lido and keep the tokens in liquidity. Add ether to the smart contract and receive stETH tokens in return. You receive a staking reward for every day you store these tokens in your wallet. They are completely liquid, so you can use them for your needs at any time - trade, sell, exchange, invest in DeFi projects, etc.
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Project description
Lido — an ETH 2.0 betting solution, supported by leading betting providers. Lido allows users to stake their ETH without blocking assets or maintaining infrastructure while participating in network operations such as lending. The Ethereum 2.0 protocol allows betting in multiples of 32 ETH.
StETH tokens serve as the building block for new and existing Ethereum applications and protocols. For example, you can use it as collateral for loan services or other DeFi trading solutions.
How the project works:
| Step 1 | Deposit any amount of ETH into the Lido liquid betting protocol. |
| Step 2 | Receive the same amount of stETH tokens in return and receive staking rewards. |
| Step 3 | Use stETH tokens in DeFi and have complete control over your funds. |
| Step 4 | Exchange stETH for ETH tokens when the second phase of Ethereum 2.0 begins. This will be possible when transfers to Ethereum 2.0 are available. |
With Lido, users receive safe staking rewards in real time, allowing them to participate in securing Ethereum with less associated risks and less potential for loss.
Additional information
The site does not have a WhitePaper document, but there is a large section with answers to questions. Also, you can study the information on the main page and in the blog. The community actively maintains social networks: twitter, telegram, discord. Subscribe to find out about all news.
Lido is a reliable staking solution for a number of reasons:
- open source and constant review of all code;
- a committee of selected, best-in-class validators to minimize the risk of staking;
- use of non-custodial staking to eliminate counterparty risk;
- using DAO for making management decisions and managing risk factors.
Typically, when staking ETH, you choose only one validator. With Lido, you are betting on multiple validators, minimizing the risk of betting.
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