Buying Lido DAO (LDO) is easy!

What it is and how it came about

Lido DAO or Lido Finance is a decentralised finance service. Its creators are crypto influencer Jordan Fish (also known as Crypto Cobain), and the two founders of P2P Validator, a staking service. 

Lido was born in a key period for the Ethereum ecosystem, namely when the blockchain was preparing to convert to a Proof-of-Stake system. Indeed, in December 2020, Ethereum’s Beacon Chain was launched, which for the first time allowed ETH to be staked. However, these coins could not be removed from staking until the Shanghai update, which took place only two years later, and the minimum amount of stakes was 32 ETH.

The Lido DAO team therefore developed a decentralised protocol that allows both the staking of any amount of ETH and unstaking. But the biggest innovation that could lead you to buy Lido DAO (LDO) is liquid staking: for every ETH you deposit in the protocol, you receive a stETH, i.e. a token that can be used in many DeFi applications developed on Ethereum.

Why buy Lido DAO (LDO)

LDO is the governance token of Lido DAO, and is used to vote on decisions concerning the development and improvement of the service. The token has a limited supply of 1 billion. Apart from the utility of LDOs, why buy Lido DAO?

In May 2023, Lido V2 was released, with substantial improvements in decentralisation and staking experience: this demonstrates the team’s activity and commitment. Not only that, the decentralised governance structure, thanks to the DAO, encourages the involvement of all its users in participating in the project.

At the institutional level, Lido DAO has been verified by 14 technical auditing organisations, and is financed by a large number of investment funds, first and foremost Paradigm and a16z.

Buying Lido DAO (LDO) can therefore be an option both for those who actively use DeFi and for those who simply want to follow the project on the market.