Stake with Lido | Lido Finance

Who Is Lido Finance Best For?

Lido Finance is a great option for many people who have been eyeing ETH as a way to potentially earn in crypto. Instead of buying and holding ETH in hopes that the price increases, you can stake as much or as little as you want while still using a derivative token elsewhere.

  • Crypto investors who are new to staking and want a user-friendly platform where they can stake their ETH.
  • Crypto enthusiasts who want to learn more about the potential of the staking-as-a-service model.
  • Investors who feel confident staking and who want to be able to freely move their staked ETH across different DeFi protocols.

Key Features Of Lido

Lido has become one of the go-to choices for stakers and investors due to its industry-leading features. Some of them include:

  • Easy Staking. By staking their assets, Lido users can earn daily staking rewards. The smallest number of tokens that users can stake is unrestricted.
  • Maximized Earning Potential. All users of the platform are permitted to use their tokens as collateral for lending, yield farming, and other activities. These assets can also be used to increase the yield already received.
  • Native Token. Lido has a token called LDO that is traded on a number of exchanges, including SushiSwap, Uniswap, Hoo, 1inch, Hotbit, DeversiFi, and Bilaxy.
  • Quality Audits. Lido smart contracts are audited by Quantstamp and Sigma Prime.
  • Wallet Variety. Although Lido doesn’t have its own wallet, it does let users use some of the most well-liked ones on the market, including DeFi wallets like TrustWallet and MetaMask.

Cryptos Listed On Lido

You can stake more than just ether on Lido. Chains that work with Lido include the following:

  • Solana (SOL) can be staked for stSOL. APR is around 5.5%. Your staked SOL is still functional throughout the Solana ecosystem in the interim.
  • Kusama (KSM) can be staked for stKSM. The APR is 21.1%. Take advantage of the daily stake rewards from your KSM. Your stKSM works in DeFi on the ecosystems of the Kusama and Moonriver.
  • Polkadot (DOT) can be staked for stDOT. 16.5% is the average APR. Get DOT staking rewards every day. Let the Polkadot and Moonbeam ecosystems receive DeFi work from your stDOT.
  • Polygon (MATIC) can be staked for stMATIC. APR stands at 8.7%.

Fees For Using Lido

The DAO, node operators, and an insurance fund all receive a portion of the staking rewards, which are subject to a 10% fee by the system. After a successful vote, the DAO may alter the fee. With this fee structure, Lido staking should be more profitable than what is provided by the majority of exchange staking alternatives.

Furthermore, Lido still operates on the Ethereum blockchain, so gas fees do apply, and can vary based on network traffic volume. Lido does not collect Ethereum gas fees.

Alternatives To Consider

Lido is one of the most trusted staking-as-a-service platforms for both traders and investors. But in case you feel it’s not right for you or you’re looking for more centralized options, consider the following alternatives:

ByBit: Good For Crypto Traders Who Want To Maximize APYs

ByBit offers flexible staking, DeFi mining, and APYs reaching as high as 400%.

KuCoin: Good For Centralized Staking

KuCoin is a centralized exchange that supports dozens of cryptocurrencies, multi-staking options, high interest, and even crypto lending.

Nexo: Good For Long-Term Stakers

Nexo supports over 35 cryptocurrencies, offers compounding interest for long-term investors, and provides up to 16% in annual interest.

Is Lido Right For You?

With solid fundamentals, a robust ecosystem, and a trusted community, Lido is becoming one of the go-to ETH staking platforms for traders and investors alike. If you’re looking for a user-friendly platform where you can stake your ETH, earn daily rewards, and do it all while having the freedom to move your staked ETH across different DeFi protocols, Lido might be exactly what you’re looking for.

Final Thoughts On Lido

The road to ETH 2.0 is merged together with DeFi by Lido, calmly situated in Ethereum’s sweet spot. Lido offers users a novel way to stake ETH on Ethereum’s new beacon chain while maintaining access to their ETH’s value.

But even though Lido has been raising eyebrows around the DeFi world, it’s one project everyone in crypto should have their eyes on. With its friendly interface, ease of use, sustainable APYs, and community of loyal supporters, it’s safe to say Lido raises the stakes and is here to stay.