Lido

Lido Finance is a decentralized finance (DeFi) platform built on the Ethereum blockchain that enables users to stake their Ethereum tokens and earn rewards on the Ethereum 2.0 network. It allows users to pool together their funds to reach the minimum threshold required for staking, making it more accessible for users to participate in staking on Ethereum 2.0. Lido Finance uses smart contracts to automate the staking process, and issues a token called stETH, which represents users' stake in Ethereum 2.0 and can be traded or used as collateral in other DeFi applications.

Overall, Lido Finance aims to provide users with an easy and accessible way to participate in Ethereum 2.0 staking, while also offering benefits such as low fees, fast transactions, and the ability to earn rewards on their staked ETH without needing to run their own validator node. It is a popular platform in the DeFi ecosystem, and has gained attention for its innovative approach to solving the challenges associated with staking on Ethereum 2.0.

Last updated