LDO coin is the native cryptocurrency of the Lido Dao ecosystem, and it is used for governance. The coin works on the Ethereum blockchain and follows the ERC-20 protocol. It was launched in 2020, just a few weeks after the Beacon Chain went live. The Beacon Chain introduced staking to the Ethereum blockchain, and the LDO network solves many problems ETH stakers face. Since it allows people to stake ETH without holding large sums of money, it has become quite popular among crypto investors.
A Bit About Lido Dao
Some members of this decentralized autonomous organization are Semantic VC, Stake Fish, Terra, and P2P Capital. Several famous investors are also part of the project, and they include Julien Bouteloup of Stake Capital and Will Harborne of Deversifi. It is used on the Lido Dao ecosystem and works on the Ethereum blockchain.
Lido Dao offers a liquid staking service for Ethereum, Solana and Polkadot to name a few.CryptoLists.com
1 billion LDO coins were minted at genesis in December 2020. About 36% of the LDO supply is distributed to the DAO treasury, and 22% is given to investors. The rest of the Lido Dao tokens are distributed to founders and future employees, initial developers of the network, and validators and signature holders.
Utility of Lido Dao?
With LDO cryptocurrency, you can contribute to the future of the Lido Dao ecosystem as you will have governance rights on the network. That means you can vote on proposals and even come up with your own suggestions on how the ecosystem should work. Holding these coins can also give you the right to vote on the addition or removal of Lido node operators. LDO holders can also stake their coins and earn rewards on a daily basis. Lido Dao is one of few sites that offer Ethereum staking with decent yields, almost 4% even before the Proof of Stake version is live. But they also offer Solana staking with above 5.5% staking yield, Polygon at 8.7% yield while Polkadot stands out with 16.5% staking reward.
Lido Dao Price detailsERC20 Contract address: 0x5a98fcbea516cf06857215779fd812ca3bef1b32
›› Details & Tokenomics
›› LDO tokenomics and social media
Advantages of Lido Dao+ LDO will give you governance rights on the network.
+ The coin is compatible with many crypto wallets.
+ Lido Finance has an overall great reputation.
+ Lido Dao gives outstanding staking rewards for ETH, SOL and DOT.
+ You can earn the token by providing liquidity to Lido Dao.
Disadvantages- LDO has to deal with a lot of competition from other tokens.
- You won’t get it on many crypto exchanges.
- Investing in this LDO token can be risky as it is volatile.
- Since it is rather new, it can be hard to predict its future.
Costs▪ Rated at 10/10
Lido Dao is an ERC-20 token, and that means all transactions will be processed on the Ethereum blockchain. The transfer fees will vary depending on the congestion on the Ethereum network, but you can usually expect to pay around $20 for the network fees. You can lower the transaction fees by exploring Ethereum layer-2 solutions.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
Lido Dao has become popular among crypto investors since it has made it easier for people to stake ETH. The coin quickly grew in value rapidly and is now ranked among the top 70 cryptocurrencies by market cap. On Twitter, Lido Finance has more than 95,000 followers, and people are generally positive about the project.
Where can I buy Lido Dao tokens?
You can purchase this token on many different crypto exchanges, but you will mostly have to first purchase BTC, ETH, or stablecoins and exchange them for LDO. Some of the exchanges where you can get the token are Uniswap and 1Inch.
What is the Lido referral program?
This is a program that allows users of the network to earn 1% of the total ETH staked through the link in their LDO tokens.
Which crypto wallets can I use to store my Lido Dao tokens?
You can store your cryptocurrencies in any wallet that accepts ERC-20 tokens. The best ones are Ledger Nano S, Atomic, Trust, Trezor, and MyEtherWallet. You should pick a crypto wallet that offers high levels of security. The wallet should also be compatible with your device.
How many Lido Dao tokens are there in circulation?
The total supply of LDO is 1 billion, but the circulating supply of the token is only about 313 million. The tokens are allocated to the DAO treasury, founders and future employees, initial Lido developers, validators and signature holders, and investors.
What is the difference between stETH and LDO?
Both of these cryptocurrencies are used on the Lido Dao network. StETH is the tokenized version of staked Ethereum, meaning you will receive stETH when you send ether to the liquid staking smart contract of Lido. On the other hand, LDO is the governance token of the network.
Screenshots from Lido Dao
More sites where to buy/sell/trade Lido DaoBelow you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Lido Dao details and tokenomics
BEP20 Contract address: 0x986854779804799C1d68867F5E03e601E781e41b
SOL Contract address: HZRCwxP2Vq9PCpPXooayhJ2bxTpo5xfpQrwB1svh332p