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About Lido DAO
Key Points:
- Lido DAO is a decentralized autonomous organization (DAO) providing staking infrastructure for multiple blockchain networks.
- It offers a liquid staking solution for Ethereum, allowing users to stake their ETH and receive stETH tokens.
- The platform is secured by decentralized governance, audited code, and smart contracts.
- The native token is LDO, which serves as the governance token.
- Lido currently supports staking for Ethereum and Polygon.
Founders and Investors:
- Founders: Konstantin Lomashuk, Vasiliy Shapovalov, and Jordan Fish.
- Invest
About Lido DAO: Empowering Decentralized Governance
Introducing Lido DAO (LDO): A Decentralized Governance Powerhouse
Lido DAO is a decentralized autonomous organization (DAO) that furnishes a multifaceted staking infrastructure, seamlessly supporting a diverse array of blockchain networks.
Notably, the platform offers a liquid staking solution for Ethereum, enabling users to stake their ETH in exchange for stETH (Lido staked ETH) tokens, which serve as a representation of their staked ETH and accrued staking rewards.
Lido DAO is fortified by a synergy of decentralized governance, rigorously audited code, and robust smart contracts. The Lido protocol operates on the Ethereum blockchain, leveraging smart contracts that facilitate user deposits, distribute staking rewards, and perform various other functions. Notably, multiple third-party security firms have conducted thorough audits of Lido’s smart contracts, thereby identifying and mitigating potential vulnerabilities.
The platform’s native token, LDO, also doubles as the governance token for Lido DAO, empowering holders to participate in shaping the platform’s trajectory. By exercising their voting rights, they can influence pivotal decisions, including board adjustments, new integrations, and platform updates, thereby determining the development and operation of the platform.
Lido presently offers staking services exclusively for Ethereum and Polygon, having recently discontinued support for Solana.
The Visionaries Behind Lido DAO: Unveiling the Founding Members
Lido was founded in 2020 by Konstantin Lomashuk, Vasiliy Shapovalov, and Jordan Fish, with the support of a consortium of esteemed financial institutions and visionary angel investors who facilitated its launch.
The esteemed roster of finance firms comprises Semantic VC, ParaFi Capital, Libertus Capital, Bitscale Capital, StakeFish, StakingFacilities, Chorus, P2P Capital, and KR1.
A select group of esteemed angel investors, comprising Stani Kulechov of Aave, Banteg of Yearn, Will Harborne of Deversifi, Julien Bouteloup of Stake Capital, and Kain Warwick of Synthetix, played a pivotal role in helping Lido take flight.
Lido DAO: A Beacon of Uniqueness in the Decentralized Realm
Lido seeks to democratize staking by aggregating staked ETH from multiple users, thereby eliminating the need for technical proficiency on the part of users. Furthermore, users are no longer required to commit a minimum of 32 ETH to operate their own validator, thereby opening up staking opportunities to a broader audience.
Lido Liquid Staking V2, or Lido V2, represents a significant milestone in the evolution of the Lido DAO protocol. This cutting-edge release is specifically designed to furnish a more efficient and versatile staking solution, tailored to the unique requirements of Ethereum 2.0.
One of Lido V2’s hallmark features is its innovative “Liquid Staking” paradigm, which enables users to deposit ETH into the Lido pool and receive stETH (staked ETH) tokens in return. These tokens can be freely traded on secondary markets or utilized on “LSDFi” protocols, thereby providing users with a more liquid and versatile form of staked ETH that can be repurposed for diverse applications.
Ultimately, the Lido DAO network constitutes a robust and secure ecosystem that empowers users to engage in governance, accrue rewards, and contribute to the network’s unwavering security.
What Is the Circulating Supply of Lido DAO (LDO) Coins?
As of June 2023, the total circulating supply of Lido DAO tokens stands at 879,588,042 LDO, which accounts for approximately 88% of the total supply. The maximum supply is capped at 1,000,000,000 LDO.
Examining the tokenomics of LDO, we find that the allocation of these tokens is distributed as follows:
The DAO Treasury Allocation — 36.32%
Investors — 22.18% of stakeholders
Validators and signature holders are allocated 6.5% of the total supply.
The pioneering developers of Lido, the founding architects, are allocated 20%.
Founders and future team members — 15% of the total token supply is allocated to the founding team and future employees, ensuring their continued involvement and commitment to the project’s success.
The Lido DAO Network’s Security Paradigm
Funds are safeguarded within a smart contract, rendering them impervious to validator interference. Consequently, LDO token holders exercise their voting power within the Lido DAO to rigorously vet, carefully select, and onboard new node operators, while also imposing penalties on existing ones that have been slashed in accordance with the chain’s governing rules.
Lido has also established a substantial $2,000,000 bug bounty program in collaboration with Immunefi, a premier DeFi bug bounty platform. The Lido Bug Bounty program is specifically designed to mitigate potential risks, including user fund losses, denial of service, governance takeovers, data breaches, and data leaks. Notably, Lido has already rewarded a total of $250,000 for 7 successfully identified bug bounties.
Acquiring Lido DAO (LDO): A Comprehensive Guide to Exchanges and Platforms
Lido DAO (LDO) is now accessible for acquisition on prominent cryptocurrency exchanges, including esteemed platforms such as Binance, Coinbase, KuCoin, Kraken, and many more.
Associated Resources:
Delve into the world of Ethereum (ETH), Solana (SOL), Polygon (MATIC), Polkadot (POL), and Kusama (KSM) — the esteemed blockchain networks supported by Lido.
Delve into the world of staking: a comprehensive explanation awaits in the CMC glossary.
Delve into our comprehensive guide to the DAO ecosystem, where decentralized governance and community-driven decision making come together to shape the future of blockchain.
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