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What is Lido DAO all about
Lido is an open-source liquid staking protocol. It is built on the Beacon chain of Ethereum 2.0. Lido offers several staking protocols, for example, Kusama, Polygon, Terra, and primarily, Ethereum. Staking with Lido allows users to earn staking rewards, without the need to lock up their crypto.
When a user decides to stake Ether with Lido, they deposit ETH and receive stETH on a 1:1 basis. The stETH token is representative of the value of the deposit combined with staking rewards. These tokens are minted with each deposit and burned upon each withdrawal. Rewards gained from staking stETH on Lido apply daily. When a user receives their stETH they can take part in liquid staking.
Unlike regular staked of Ether, stETH doesn't have any specific limitations. Lido-staked Ether can be used for staking with a very small amount. In comparison, ETH staking requires 32 ETH to run a validator node.
The tokens are being staked by a DAO-controlled smart contract, which chooses elected staking providers. These providers don't have access to staked assets, as all funds are controlled by the DAO. Lido is dependent on the restructuring process of Ethereum, as well as the Beacon chain. The staking protocol on Ethereum 2.0 may also change with time. For these and more reasons, Lido opted to have a DAO govern the network. The Lido DAO has several jobs it fulfils. These include funds management, proposing and updating Lido parameters, responding to emergencies, and more. The DAO receives a portion of the platforms' fees, which are deployed to the treasury. They may later be distributed towards specific development goals, as decided on, by the Lido DAO.
As it is a Decentralized Autonomous Organization, it operates on a voting system. The LDO token is used for governance and it represents the users' voting power. The more LDO a user locks in a vote, the more power their vote has.
LDO is what's called a MiniMe token. These are cloneable ERC-20 tokens with additional features. LDO has a total supply of one billion tokens.
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LDO Questions & Answers
How much does Lido DAO cost today?
Currently, the price of Lido DAO is at 1.04 Euro.
What will Lido DAO cost 90 days from now?
On the basis of our prediction we estimate that Lido DAO's value is likely going to be between €0.25 and €3.16 in 3 months.
At what point did Lido DAO's price reach its highest?
Lido DAO reached its maximum price on 2021-08-20, when it was at 6.25 EUR.
Is Lido DAO expected to increase in value 1 month from now?
According to our price prediction, we expect, Lido DAO's price will be anywhere between €0.61 and €3.16 1 month from now.
Is Lido DAO a popular project?
2324 individuals engaged in discussing Lido DAO on Reddit in the last 48 hours. Lido DAO's official Twitter profile is currently followed by 83947 users.
What is the price of Lido DAO going to be six months from now?
Long term forecast is very difficult, however according to our price prediction algorithm we estimate that the price of Lido DAO will reach anywhere between €0 and €3.16 in 6 months.
10 days Lido DAO price forecast
Long term Lido DAO price prediction