Lido, launched in December 2020, stands as the premier platform for liquid staking, offering users the opportunity to earn interest on their cryptocurrencies across various blockchains. The protocol is governed by the Lido DAO, which oversees critical decisions such as selecting node operators, determining fees, and ensuring the platform’s security.

By staking their assets on Lido, users receive a liquid token called stETH, which holds versatile utility within decentralized finance (DeFi) applications and can even be staked for additional yield. Unlike traditional staking methods that involve locking up assets, Lido empowers users to maximize their earning potential by allowing them to freely utilize the liquid tokens across the DeFi landscape. While Lido primarily focuses on Ethereum, it also extends support to Solana, Kusama, Polkadot, Polygon, and Terra.