What is Lido DAO (LDO)? How does it work?
Lido DAO is a platform that provides staking infrastructure for blockchain networks. Founded in 2020, Lido DAO’s founders include Konstantin Lomashuk, Vasiliy Shapovalov and Jordan Fish. Lido DAO’s native token is LDO. If you have questions like: what is Lido DAO (LDO), how does Lido DAO (LDO) work, how do you buy Lido DAO (LDO) and how do you trade LDO/TRY and LDO/USDT trading pairs, you will find the answers in this article.
This article will cover the following:
What is Lido DAO (LDO)?
How does Lido DAO (LDO) work?
How do you store Lido DAO (LDO)?
How do you buy and sell Lido DAO (LDO)?
What is Lido DAO (LDO)? How does it work?
Lido DAO is a platform that provides users with staking by providing nodes in blockchain networks. Users earn tokens representing the assets they stake, specific to the cryptocurrency they stake on the Lido DAO network. Lido DAO provides liquid staking solution for Ethereum. It allows users to receive the rewards of the Ethereums they stake. When a stake is made on Ethereum, users earn stETH tokens.
The Lido DAO network pools Ethereum staked by multiple users into a single pool. Thus, it aims to make staking accessible to more users. In the Lido DAO network, users are not required to commit a minimum of 32 Ethereum. Any user can stake their ETH.
Lido V2 is the latest version of the Lido DAO network, designed in line with the Ethereum network’s transition to Ethereum 2.0.
Lido DAO runs on the Ethereum network. The native token of Lido DAO is LDO. LDO is an ERC-20 based token running on the Ethereum blockchain. LDO is used in the governance of the Lido DAO network. Users holding LDO tokens have a say in voting for the development of the Lido DAO network. The LDO token is also used to pay transaction fees on the Lido DAO network.
LDO’s total supply is limited to 1.000.000.000 units.
Lido DAO was founded in 2020 by Konstantin Lomashuk, Vasiliy Shapovalov and Jordan Fish.
How do you store Lido DAO (LDO)?
LDO is an ERC-20 based token. You can manage your LDO balances using desktop, mobile or hardware wallets that support ERC-20 based Ethereum assets.
How do you buy and sell Lido DAO (LDO)?
You can use the BtcTurk | Kripto mobile app or website to buy and sell Lido DAO (LDO) with Turkish lira or Tether. If you are not a member of BtcTurk yet, you can become a member quickly on our website or mobile app. You can start trading Lido DAO (LDO) by depositing Turkish lira via one of our seven
