June 15, 2021

Staking Ethereum (ETH) is now reside on Lido

2 min read

Lido, a liquid staking option for ETH 2.0 backed by a number of leading blockchain staking suppliers is now live. Anyone can straight stake their ETH with Lido to add to the security of the ETH network whilst making everyday rewards for doing so. Users have the ability to stake Ethereum with Lido to make as much as an optimum of 18.10% a year in staking rewards.

When staking with Lido, users get stETH tokens on a 1:1 basis representing their staked ETH. These stETH balances can be utilized like routine ETH to earn yields and lending benefits, and are updated every day to show staking benefits.

Summary

  • Users can stake whatever quantity they desire; there are no minimum Ethereum staking deposits with Lido.
  • Receive stETH when staking; a tokenized version of staked ETH, which worth updates everyday to reflect your made staking benefits.
  • Stake directly from Metamask, Ledger, or another wallet of choice (there is no need to trust a central entity with staking).
  • When users stake with Lido they stake across a set of proven validators with a track record of success in the field of staking to minimize slashing and captive risks.

Ethereum Staking Rewards

The Ethereum staking reward rate varies and modifications based on the overall quantity of ETH staked. If the overall quantity of ETH staked is low then the benefit rate will be higher, with a maximum annual benefit rate of 18.10%.

Lido applies a 10 % cost on staking rewards, split between node operators, the DAO, and an insurance fund. This charge can be changed by the DAO pending an effective vote.

Using stETH Token

When staking ETH with Lido, users receive stETH to show their staked Ethereum. This stETH token represents staked ETH, with its value altering everyday to show earned staking rewards. When deals are enabled on Eth2, users can redeem their staked ETH using stETH.

stETH is a liquid token that can be traded, sent, provided, and more, permitting users to participate in DeFi activities even after staking.

“Over the coming weeks, we will be seeing the growth of the Lido and stETH ecosystem, with stETH developing as a foundation for other applications and procedures. As a growing number of applications start to enable interaction with stETH, the advantages of liquid Ethereum staking will become more and more obvious. In addition to this, we aim to see the growth in Lido DAO conversations, with incoming proposals on validator admissions, fee distributions, and more.”
– – The Lido Team

CryptoNinjas” Staking Ethereum (ETH) is now survive on Lido