Ethereum Liquid Staking Leader Review: Lido – Crypto Economy

l then mints stETH tokens, representing the staked ETH plus rewards earned. These tokens can be used in various DeFi applications, unlocking the liquidity of the staked assets. The issuance of liquid tokens allows users to participate in staking and DeFi activities simultaneously.

wstETH
In addition to stETH, Lido also offers wrapped stETH (wstETH), which is a tokenized version of stETH on the Solana blockchain. This bridging of tokens enables cross-chain compatibility and access to various DeFi protocols on both Ethereum and Solana networks.

Community Governance
Lido operates under a decentralized autonomous organization (DAO) structure, where token holders can vote on key protocol upgrades and decisions. This democratic governance model ensures the protocol remains community-driven and responsive to user needs.

Conclusion
Lido has established itself as a leading player in Ethereum liquid staking, offering users the opportunity to earn staking rewards while maintaining the flexibility of their assets. With its innovative model, broad user base, and commitment to community governance, Lido continues to be a prominent figure in the evolving DeFi space.