Lido DAO Token

What is the Lido DAO token?

Lido DAO (LDO) token is Lido’s own utility token. The latter represents liquid staking protocol is powered by two main tokens.

Main function LDO token This make managing Lido DAO easier.

There is a stark difference between the all-time high and all-time low price of the Lido DAO token. This means that the price of LDO tends to be highly volatile.

What is Lido DAO?

Lido DAO is decentralized autonomous organization (DAO) which provides a non-custodial liquid staking solution. Users place their ETH tokens and receive stETH tokens, which represent the ether staked on them.

Although Lido DAO was originally created for staking ETH, it now also allows staking on other cryptocurrencies such as Solana (stSOL), Kusama (stKSM), MATIC (stMATIC) and DOT (stDOT).

These derivative tokens tied to the selected token in a 1:1 ratio. In turn, they can be used in the same way as staked tokens.

It is important to note that the Lido DAO crypto platform charges a staking fee of 10%. This applies to your betting rewards.

Who developed the Lido DAO token?

Lido DAO was launched in December 2020. However, there is no confirmed information about the founders of this platform.

The project is supported by various organizations in the DeFi world. Official members of Lido DAO listed on their website include Semantic VC, Libertus Capital, Terra, ParaFi Capital, StakeFacility, P2P Capital, Bitscale Capital, Chorus, StakeFish and KR1.

In addition, business angels became interested in Lido DAO. These include Stani Kulechov, Banteg, Will Harborne, Julien Bouteloup and Kane Warwick.

The Lido DAO token was launched simultaneously with the Lido DAO platform.

What are the main characteristics of the Lido DAO token?

Native The LDO token serves as a governance token.. Thus, the own token holders get voting rights. This means that they can vote on all decisions related to the platform, no matter how minor they may seem. Some of the solutions Network participants vote on protocol upgrades, distribution, and key parameters such as staking rewards..

The large number of Lido DAO coins at disposal means greater power when making important decisions regarding the future of the Lido.

Moreover, LDO token holders can submit their own proposals for the platform by submitting proposals. Other members of the network then vote on whether to accept or reject said proposal.

There are a total of 1,000,000,000 LDO tokens available.

From a tokenomics perspective, LDO tokens were distributed as follows:

• 36.32% – Treasury DAO;
• 22.18% – Investors;
• 20% – Initial Lido developers;
• 15% – founders and employees of Lido;
• 6.5% — Validators.

How is the Lido DAO token protected?

The Lido DAO Token crypto project maintains transparency through an active online presence on various social media platforms. He has official accounts on Twitter, Github, Reddit, Telegram and Discord. This allows users to always stay up to date with the latest news.

Decentralized platform security experts Sigma Prime, Quantstamp and MixBytes have completed a detailed audit of Lido Finance. These security assessments are publicly available on the GitHub platform page.

Moreover, the betting process on Lido is handled by more than one validator unlike other projects such as Ethereum. This means that users experience less risk.

Lido DAO also announced a bug bounty. This means that independent individuals, called bounty hunters, can be involved in finding weaknesses in Lido’s infrastructure that are susceptible to attack. Successful completion entails a generous reward.

Be sure to check the LDO price in the chart above before making any purchasing decisions.