Lido DAO

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What is Lido DAO (LDO)?

Lido is a liquid staking solution for Ethereum. Staking on Ethereum 2.0 is still in its early stages. Investors who want to stake their coins on the chain without investing in infrastructure can use a project like Lido to earn staking rewards without having to maintain complex and expensive infrastructure.

How many LDO coins are there in circulation?

Out of 1 billion LDO coins that can be in supply, a total of about 0.9%, or close to 900 million tokens, are currently in circulation.

Primary features of LDO coin

Lido is a liquid staking solution for Ethereum. It lets users stake their ETH on the chain without locking assets or maintaining extensive infrastructure. However, the interesting bit is that users can still benefit by using processes only available to stakers, like lending and subsequent yield farming.

Lido DAO also lets users bypass problems associated with ETH staking like illiquidity, immovability, and accessibility.

Here are some other facts:

• LDO touched its all-time-high price of $11 on 16 November 2021.
• Its all-time-low was recorded at $0.406 on 18 June 2022.
• At the time of writing, the coin is almost 500% above the ATL at $2.40 apiece.
• The market cap of Lido stands at $1.9 billion as of publishing time.

Who are the founders of Lido?

Lido DAO is founded by some of the popular names in the space, including Semantic VC, Terra, Bitscale Capital, StakeFish, StakingFacilities, ParaFi Capital, and KR1. Several key angel investors have also invested in Lido DAO, including Stani Stani Kulechov (Aave), Will Harborne (Deversifi), Julien Bouteloup (Stake Capital), and Kain Warwick (Synthetix). A reputation of excellence associated with these names gives Lido DAO credibility.

Pros & Cons

Pros of Lido DAO (LDO)

• Offers unique flexibility in ETH staking, allowing users to stake without infrastructure
• Fully decentralized
• Helps increase the functionality of the Ethereum blockchain
• Open-source
• Uses DAOs to make governance decisions

Cons of Lido DAO (LDO)

• High fees, averaging around 10%
• Lido DAO is highly dependent on the Ethereum blockchain, specifically the Beacon chain. Threats to ETH directly affect LDO as well.
• Since Lido DAO is governed by smart contracts, any error in the code could mean disaster for the protocol. Lido founders claim that this is the reason why they are regularly audited by top tech audit firms like Oxorio and State Mind.

Trade Lido DAO (LDO) on CoinSwitch

Now you can use the CoinSwitch app to trade LDO coins with hundreds of other cryptos. Visit our website to download the app and start trading today!

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