Lido is a liquid staking solution that allows users to earn interest on their digital assets while keeping them liquid for use in other DeFi applications. Lido started out on Ethereum in 2020 and has expanded to support several PoS networks. It provides staked tokens that are freely transferable, allowing users to gain yield on top of yield by leveraging collateral, lending, yield farming, and other kinds of Defi protocols.
Unlike other staking options, Lido's staking rewards are designed to maintain asset liquidity by providing derivative tokens. The derivative tokensrepresent a user's deposits and corresponding staking rewards and slashing penalties. They can be transferred, traded, or used in other DeFi applications for more yields, including Yearn, Curve, and Maker
The LDO token is used for governance of Lido DAO.
How Many Lido DAO (LDO) Tokens Are in Circulation?
The total supply of LDO is 1,000,000,000, among which 851,884,650 are in circulation.
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