Lido is the largest liquid staking protocol, letting users stake ETH and receive stETH, a liquid token usable in DeFi.
How Lido Works
Deposit ETH, receive stETH 1:1. stETH accrues staking rewards daily. Use stETH in DeFi while earning ~4% APY.
Key Benefits
- No minimum stake
- Liquid staking token
- DeFi composability
- Automated rewards