Projects – Lido Finance As we have learnt, Liquid Staking is | House Of Chimera

Projects – Lido Finance

As we have learnt, Liquid Staking is gaining popularity ; thus, let's understand the most well-known provider. Lido Finance entered DeFi intending to limit the burdens linked to $ETH staking because if you want to stake $ETH there are inconveniences to overcome:

Illiquidity - Locked $ETH unavailable for months/years
Users can only stake multiples of 32ETH

Therefore, Lido makes staked $ETH liquid and allows participation with any amount of $ETH. Overall, it enables users to stake, for instance, $ETH and receive stETH tokens in return in real-time, with stETH balances updated daily. Notice that Lido supports staking and using funds across other Proof-of-Stake chains like $SOL, $MATIC, $DOT, and $KSM. Once staked, "st+asset-ticker" derivatives can be used in 27+ DeFi applications and wallets.

Note that Lido charges a 10% fee for its services.