Lido DAO is a decentralized finance (DeFi) protocol that offers liquid staking solutions on Ethereum and many other blockchains. It allows users to stake their assets and generate passive income without the staking process being complex and requiring technical knowledge.
Users start staking by depositing their ETH on Lido. In return, they receive a liquid token called stETH, which is equivalent to the amount of ETH staked. stETH is an asset that can be traded like other cryptocurrencies and can be used on various DeFi platforms.
At the time of writing, Lido DAO (LDO) is among the day's top decliners, down 13.03% over the last 24-hour period. LDO, which has risen in the last few days with Spot Ether ETF developments, has declined in the 24-hour period. There may have been a decline after the removal of staking from Spot Ether ETF applications.
