ETH Staked - Lido Finance
We want to show how much ETH has been shared through LIDO in recent months and who has invested in LIDO , We look at the shareholder (stETH) in Lido Finance .
Lido is a community staking service for Ethereum. Users can deposit (stake) their ether and receive an equivalent amount (pegged 1:1) of the stETH, the tokenized version of staked ether. stETH balance's will be updated daily to reflect the value of stETH accrued.
stETH cannot be converted back to ETH but can be swapped or exchanged for other tokens on decentralized exchanges like Curve / Uniswap.
What is liquid staking?
Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure. Users can deposit tokens and receive tradable liquid tokens in return. The DAO-controlled smart contract stakes these tokens using elected staking providers. As users funds are controlled by the DAO, staking providers never have direct access to the users' assets.
What is stETH?
stETH is a token that represents staked ether in Lido, combining the value of initial deposit + staking rewards. stETH tokens are minted upon deposit and burned when redeemed. stETH token balances are pegged 1:1 to the ethers that are staked by Lido. stETH token’s balances are updated when the oracle reports change in total stake every day.
stETH tokens can be used as one would use ether, allowing you to earn ETH 2.0 staking rewards whilst benefiting from e.g. yields across decentralised finance products.