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STAKE ETHER

STAKE ETH AND RECEIVE STETH WHILE STAKING.

AmountMAXConnect wallet
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0 stETH
Exchange rate
1 ETH = 1 stETH
Transaction cost
 
Reward fee
 


LIDO STATISTICS

View on Etherscan
Annual percentage rate
 
Total staked with Lido
 
Stakers
 
stETH market cap
 


FAQ

What is Lido?

Lido is a liquid staking solution for Beacon chain backed by industry-leading
staking providers. Lido lets users stake their ETH - without locking assets or
maintaining infrastructure - whilst participating in on-chain activities, e.g.
lending.

Our goal is to solve the problems associated with initial Beacon chain staking -
illiquidity, immovability and accessibility - making staked ETH liquid and
allowing for participation with any amount of ETH to improve security of the
Ethereum network.

As part of our continuing efforts to be a force for decentralization, we have
published a scorecard for community input and accountability.

Learn more here.

How does Lido work?

When staking with Lido, users receive stETH tokens on a 1:1 basis representing
their staked ETH. stETH balances can be used like regular ETH to earn yields and
lending rewards, and are updated on a daily basis to reflect your ETH staking
rewards. Note that there are no lock-ups or minimum deposits when staking with
Lido.

When using Lido, users receive secure staking rewards in real-time, allowing for
participation in the securing of Ethereum without the associated risks and
downside potential.

Learn more here.

What is liquid staking?

Liquid staking protocols allow users to earn staking rewards without locking
assets or maintaining staking infrastructure. Users can deposit tokens and
receive tradable liquid tokens in return. The DAO-controlled smart contract
stakes these tokens using elected staking providers. As users funds are
controlled by the DAO, staking providers never have direct access to the users'
assets.

What is stETH?

stETH is a token that represents staked ether in Lido, combining the value of
initial deposit + staking rewards. stETH tokens are minted upon deposit and
burned when redeemed. stETH token balances are issued 1:1 to the ethers that are
staked by Lido. stETH token’s balances are updated when the oracle reports
change in total stake every day.

stETH tokens can be used as one would use ether, allowing you to earn Beacon
chain staking rewards whilst benefiting from e.g. yields across decentralised
finance products.

What is LDO?

LDO is an Ethereum token granting governance rights in the Lido DAO. The Lido
DAO governs a set of liquid staking protocols, decides on key parameters (e.g.,
fees) and executes protocol upgrades to ensure efficiency and stability. By
holding the LDO token, one is granted voting rights within the Lido DAO. The
more LDO locked in a user’s voting contract, the greater the decision-making
power the voter gets.

How is Lido secure?

Lido is a secure liquid staking solution for a number of reasons:

 * Open-sourcing & continuous review of all code.
 * Committee of elected, best-in-class validators to minimise staking risk.
 * Use of non-custodial staking service to eliminate counterparty risk.
 * Use of DAO for governance decisions & to manage risk factors.

Usually when staking ETH you choose only one validator. In the case of Lido you
stake across many validators, minimising your staking risk.

What is the difference between self staking and liquid staking?

Ethereum is soon to be the biggest staking economy in the space. However,
staking on Beacon chain requires expert knowledge and complex and costly
infrastructure. There are several reasons why - the main being the fact that
slashing and offline penalties can get very severe if the staking is managed
improperly. In addition to this, self-staking brings with it a minimum deposit
of 32 ETH and a token lock-up which could last years.

Through the use of a liquid self-staking service such as Lido, users can
eliminate these inconveniences and benefit from secure, non-custodial staking
backed by industry leaders.

What are the risks of staking with Lido?

There exist a number of potential risks when staking ETH using liquid staking
protocols.

 * Smart contract security
   
   There is an inherent risk that Lido could contain a smart contract
   vulnerability or bug. The Lido code is open-sourced, audited and covered by
   an extensive bug bounty program to minimise this risk. To mitigate smart
   contract risks, all of the core Lido contracts are audited. Audit reports can
   be found here. Besides, Lido is covered with a massive Immunefi bug bounty
   program.

 * Beacon chain - Technical risk
   
   Lido is built atop experimental technology under active development, and
   there is no guarantee that Beacon chain has been developed error-free. Any
   vulnerabilities inherent to Beacon chain brings with it slashing risk, as
   well as stETH fluctuation risk.

 * Beacon chain - Adoption risk
   
   The value of stETH is built around the staking rewards associated with the
   Ethereum beacon chain. If Beacon chain fails to reach required levels of
   adoption we could experience significant fluctuations in the value of ETH and
   stETH.

 * DAO key management risk
   
   On early stages of Lido, slightly more than 600k ETH became held across
   multiple accounts backed by a multi-signature threshold scheme to minimize
   custody risk. If signatories across a certain threshold lose their key
   shares, get hacked or go rogue, we risk these funds (<13% of total stake as
   of October 2022) becoming locked.

 * Slashing risk
   
   Beacon chain validators risk staking penalties, with up to 100% of staked
   funds at risk if validators fail. To minimise this risk, Lido stakes across
   multiple professional and reputable node operators with heterogeneous setups,
   with additional mitigation in the form of self-coverage.

 * stETH price risk
   
   Users risk an exchange price of stETH which is lower than inherent value due
   to withdrawal restrictions on Lido, making arbitrage and risk-free
   market-making impossible. The Lido DAO is driven to mitigate above risks and
   eliminate them entirely to the extent possible. Despite this, they may still
   exist and, as such, it is our duty to communicate them.

What fee is applied by Lido? What is this used for?

Lido applies a N/A fee on a user’s staking rewards. This fee is split between
node operators, the DAO, and a coverage fund.

How stETH can be converted to ETH?

While there's no way to withdraw ETH from staking until withdrawals are enabled
on the Beacon chain, stETH holders may exchange their stETH to ETH on liquidity
pools such as Curve or Balancer.

Lido Referral Program

The Lido Referral Program transitioned to whitelist mode (in line with the
following proposal) which means that only whitelisted referrals are able to
participate and receive rewards. The goal of this is to help improve the
security and productivity of the Lido referral program.

Wallets, platforms, and protocols are welcome to apply for whitelisting on Lido
governance forum.

How to claim referral reward?

All previously approved rewards are available for claiming on Rhino.fi. Starting
from 13.10.2021 Lido Referral Program is operating in whitelist mode which means
that only whitelisted referrals are able to participate and get rewards.

RESOURCES

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COMMUNITY

Twitter
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CONTACTS

info@lido.fi
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