A staking initiative designed to incentivize more people to stake Ethereum, growing TVL, and further distribute the supply of LDO tokens to people that help promote the benefits of stETH.
Concept Project – What Is Lido?
Lido is a liquid staking solution for ETH 2.0 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.
Lido attempts to solve the problems associated with initial ETH 2.0 staking – illiquidity, immovability, and accessibility – making staked ETH liquid and allowing for participation with any amount of ETH to improve the security of the Ethereum network.
For those of you who do not understand what staking is, this is the act of holding a certain amount of coins in a wallet or Nodes/Masternodes of a Blockchain project for a period of time to receive rewards. This reward is based on the effort spent including staked coin amount and stake duration.
What is the project trying to achieve?
Lido’s referral program lets you earn LDO for spreading the values of staking Ethereum with Lido. Simply connect your wallet on referral.lido.fi to generate a unique Lido URL. Share this, get people staking, and earn LDO for every ETH staked using your referral link.
Through Lido’s referral program, you can contribute to the decentralization and security of the Ethereum network by incentivizing users to stake with a distributed validator set. The goal of Lido is to contribute to the security and decentralization of Ethereum through streamlined and integrated staking, making staking through a distributed validator set as simple and secure as possible.
Their referral program is intended to further spread the values of Lido and Ethereum, making Ethereum as secure a network as possible.
What is unique selling point?
Lido stands out with the following features:
- Flexibility: With ETH 2.0, you can stake an arbitrary amount of ETH on Lido to receive stETH at a ratio of 1:1. stETH can be staked, loaned, traded, etc. on any platform that supports stETH.
- Dual Yield: When you stake ETH on Lido, you will receive a yield, and if you stake or lend stETH, you will receive another yield, an effective passive income generating method.
- Increase capital efficiency: After stETH is authorized as collateral, users can use stETH to borrow UST – Stablecoin in Terra, then can buy and sell.
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