$LDO
The LDO token is the native governance token of Lido, a decentralized liquid staking protocol. Here's a breakdown:
What is Lido?
Lido is a platform that allows users to stake cryptocurrencies (like Ethereum) and receive liquid staking tokens in return (e.g., stETH for ETH). These tokens represent staked assets and can be used in DeFi while still earning staking rewards.
What is LDO?
Token Name: LDO
Purpose: Governance token
Function: LDO holders can vote on key decisions in the Lido DAO (Decentralized Autonomous Organization), such as protocol upgrades, fee structures, and validator sets.
Key Features:
Governance rights: Propose and vote on changes to the Lido protocol.
ERC-20 token: Built on the Ethereum blockchain.
Not used for staking: It's mainly for decision-making, not earning yield directly.
