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            What is Lido DAO Token (LDO)?

            August 19, 2022
            Lido DAO token

            Table of Contents

            • What is Lido DAO  (LDO)?
            • Who are the founders of Lido DAO? 
            • How does Lido DAO work?
            • Key Attributes of Lido DAO 
            • Blockchain protocols supported by Lido DAO
            • Latest News on Lido DAO
            • How to buy Lido DAO token (LDO) in India ?

            What is Lido DAO  (LDO)?

            Lido is a crypto-staking liquidity platform that allows users to stake their crypto assets to earn passive income on their holdings. Lido was launched in parallel with the Ethereum Beacon chain in 2020. It aims to solve challenges with non custodial staking services. The Lido DAO governs the staking operations on the staking platform. Participants who hold Lido DAO token(LDO) can set fee and distribution parameters and can govern the activities of the node operators. Lido DAO allows users to stake their crypto tokens without having them to lock. 

            Who are the founders of Lido DAO? 

            Kasper Rasmussen is the founder of Lido liquidity staking platform. Lido DAO’s members include Semantic VC, ParaFi Capital, Libertus Capital, Terra, Bitscale Capital, StakeFish, StakingFacilities, Chorus, P2P Capital and KR1.

            How does Lido DAO work?

            Lido DAO was launched in December, 2020 with a primary focus to offer Ethereum staking services. However, other protocols joined the platform to create liquidity staking. Lido DAO comprises four operations in the ecosystem.

            1. Stake: Users can stake their tokens daily to earn staking rewards. Users can stake any amount of their choice. 
            2. Mint: When a user stakes, new tokens are minted and  issued in 1:1 to the user’s initial stake. The users staked tokens can be leveraged across the DeFi ecosystem to compound yield.
            3. DeFi: Users can use their tokens across multiple platforms to gain compounding yields. 
            4. Community: Lido DAO’s community is its backbone. The members of the DAO build liquid staking services and governs the ecosystem fully. 

            Key Attributes of Lido DAO 

            Lido DAO offers a fresh approach towards staking liquidity DAOs’. The disruptive no lock period makes the platform more human centric. 

            • Governance: Members of the DAO holding the most LDO
            • tokens get to participate in major changes in the project, vote for or against a proposal laid by the community. Members also get to set the fee structure of the DAO operations. 
            • Community Driven: Lido DAO is a community that builds liquid staking services and governs the direction of Lido. The number of DAO participants is growing daily with contributors working together to build the future of Lido.
            • Growing Ecosystem: Lido DAO has some eminent names in the DeFi sector like Sushiswap, FTX, Maker DAO, Aave, Curve and 1 inch to name a few. Members of the community get direct access to these platforms. 
            • Multichain liquidity staking: Initially Lido DAO was built to cater to Ethereum services but later Solana and Terra staking was included to the platform making it a multi chain liquidity staking project. 
            • Utility of Lido DAO: Lido’s staking platform is concentrated on offering asset liquidity. So, if a user stakes ETH, he or she receives stETH – Staked Ethereum or if a user stakes Solana or Luna, the user receives stSOL and stBLUNA. Participants of the DAO can use these derivatives on a range of platforms like Yearn, Curve, and Maker. With these derivatives, participants also receive Lido’s Ethereum 2.0 rewards

            Blockchain protocols supported by Lido DAO

            Lido DAO supports Solana (SOL), Ethereum (ETH), Kusama (KSM), Polkadot (DOT) and Terra Classic (LUNA). 

            Latest News on Lido DAO

            Lido DAO is expected to grow enormously with Eth2.0 upgrade as there is no set limit to stake ETH on Lido, while staking directly on the main Ethereum chain will require an individual to have a balance of 32 ETH minimum.  The newly formed Ethereum Beacon chain will allow Lido DAO members to stake their Ethereum tokens to stETH- staked Ether. 

            How to buy Lido DAO token (LDO) in India ?

            Lido DAO tokens can be bought through CoinDCX –  crypto investment app. Follow these simple steps  below to invest in  tokens today. 

            • Download the CoinDCX app from your play store or app store. Register yourself to open your crypto account. 
            • Make sure you put the right email address and user name. 
            • Verify the account: You need to complete your KYC, to buy LDO  on the CoinDCX platform. 
            • All you need to do is upload the documents and your account will be set up in 15 minutes.
            •  Buy Lido DAO Token: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!

            Additional Read: Top DAO Tokens

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