decentralized autonomous organization (DAO)<\/strong><\/a> that provides a non-custodial liquid staking solution. Users stake their <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">ETH/strong>/a> tokens and receive stETH tokens that represent their staked Ether. <\/p>\r\n<p>While it was initially created for staking ETH, Lido DAO now also allows the staking of other cryptocurrencies such as Solana (stSOL), <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-kusama-ksm/">Kusama/strong>/a> (stKSM), MATIC (stMATIC), and DOT (stDOT). <\/p>\r\n<p>These derivative tokens are <strong>pegged to the chosen token on a 1:1 ratio<\/strong>. In turn, they can be used in the same way as the staked tokens. <\/p>\r\n<p>It’s important to note that the Lido DAO crypto platform charges a staking fee of 10%. It’s applied to your staking rewards.<\/p>\r\n<h2>Who Developed Lido DAO Token?<\/h2>\r\n<p>Lido DAO was launched in December of 2020. However, there is no confirmed information about the founders of this platform.<\/p>\r\n<p>The project is backed by various entities within the world of DeFi. Official Lido DAO members introduced on their website include Semantic VC, Libertus Capital, Terra, ParaFi Capital, StakingFacilities, P2P Capital, Bitscale Capital, Chorus, StakeFish, and KR1.<\/p>\r\n<p>In addition, angel investors have taken interest in Lido DAO. They include Stani Kulechov, Banteg, Will Harborne, Julien Bouteloup, and Kain Warwick.<\/p>\r\n<p>Lido DAO Token was launched at the same time as the Lido DAO platform.<\/p>\r\n<h2>What are the Main Features of Lido DAO Token?<\/h2>\r\n<p>The native <strong>LDO token serves as a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-governance-token/">governance token<\/a><\/strong>. Therefore, native token holders receive voting rights. This means they get to cast their vote on all decisions related to the platform, no matter how insignificant they might seem. Some of the decisions <strong>network participants vote on include protocol upgrades, distribution, and key parameters such as staking reward fees<\/strong>.<\/p>\r\n<p>A high amount of Lido DAO coins in one’s possession translates to a greater amount of power when making crucial decisions regarding the future of Lido.<\/p>\r\n<p>Moreover, LDO token holders can present their own suggestions for the platform by submitting proposals. Other network participants then vote on whether to accept or reject the said suggestion.<\/p>\r\n<p>There is a total supply of 1,000,000,000 LDO tokens.<\/p>\r\n<p>When it comes to tokenomics, LDO tokens were distributed like this:<\/p>\r\n<ul>\r\n<li>36.32% - DAO Treasury;<\/li>\r\n<li>22.18% - Investors;<\/li>\r\n<li>20% - Initial Lido developers;<\/li>\r\n<li>15% - Lido founders and employees;<\/li>\r\n<li>6.5% - Validators.<\/li>\r\n<\/ul>\r\n<h2>How is Lido DAO Token Secured?<\/h2>\r\n<p>Lido DAO Token crypto project maintains transparency through an active online presence on various social media platforms. It has official accounts on Twitter, Github, Reddit, Telegram, and Discord. This enables users to always remain in the loop regarding the latest news.<\/p>\r\n<p>Decentralized platform security experts Sigma Prime, Quantstamp, and MixBytes have completed a detailed Lido Finance audit. These security assessments are open to everyone on the platform’s GitHub page.<\/p>\r\n<p>Moreover, <strong>the staking process on Lido is processed by more than one validator<\/strong> unlike in other projects such as Ethereum. This means that users experience a decreased risk.<\/p>\r\n<p>Lido DAO has also announced a bug bounty. This means that independent individuals a.k.a. bounty hunters can participate in searching for weak points of Lido infrastructure that are prone to attacks. Successful completion results in a hefty reward.<\/p>\r\n<p><em>Don't forget to check the LDO price via the graph above before making any purchase decisions.<\/em><\/p>","url":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/lido-dao-ldo-price","crypto_currency_info":{"id":1170,"crypto_currency_id":1272,"description":"Lido DAO Token (LDO) is a cryptocurrency and operates on the Ethereum platform. Lido DAO Token has a current supply of 1,000,000,000 with 103,760,882.3 in circulation. 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