Lido is a liquid staking solution for ETH 2.0 backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – whilst participating in on-chain activities, e.g. lending. Lido attempts to solve the problems associated with initial ETH 2.0 staking – illiquidity, immovability and accessibility – making staked ETH liquid and allowing for participation with any amount of ETH to improve security of the Ethereum network.
stETH is a token that represents staked ether in Lido, combining the value of initial deposit + staking rewards – penalties. stETH tokens are minted upon deposit and burned when redeemed. stETH token balances are pegged 1:1 to the ETH that is staked using Lido. stETH token balances are updated when the oracle reports changes in total stake every day. stETH tokens can be used as one would use ETH, allowing you to earn ETH 2.0 staking rewards whilst benefiting from, among other things, yields across decentralised finance products.
$4 309 (-47.1%)
May 12th, 2021
Dec 22nd, 2020