From May 9th, we officially list Lido DAO Token (LDO) on the ONUS application. Soon after LDO is added, users can perform the following features:
- Off-chain transactions: Send and receive LDO with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to LDO and vice versa.
The Lido Ethereum Liquid Staking Protocol, built on Ethereum 2.0’s Beacon chain, allows their users to earn staking rewards on the Beacon chain without locking Ether or maintaining staking infrastructure.
Lido builds state of the art liquid staking protocols to grow the staking economy:
- Stake: Lido lets users stake their assets for daily staking rewards. User can stake any amount of tokens – no minimum.
- Mint: When staking Lido you mint staked tokens which are pegged 1:1 to your initial stake. Your staked tokens can be used across the DeFi ecosystem to compound your yield. Unlike staked ether, the stETH token is free from the limitations associated with a lack of liquidity and can be transferred at any time.
- DeFi: Lido lets you use your staked assets to gain yield on top of yield. Use your tokens (which earn daily staking rewards) as collateral, for lending, yield farming and more.
- Community: 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.
What is LDO Token?
LDO is a granting governance rights token of the Lido DAO, operating on Ethereum according to ERC20 standard. By holding the LDO token, one is granted voting rights within the Lido DAO, deciding on key parameters (e.g., setting fees, assigning node operators and oracles, etc.). The more LDO locked in a user’s voting contract, the greater the decision-making power the voter gets.
- Name: Lido DAO Token
- Symbol: LDO
- Platform: Ethereum
- Standard: ERC20
- Type: Governance Token
- Smart Contract Address: 0x5a98fcbea516cf06857215779fd812ca3bef1b32