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Lido is the leading liquid staking solution - providing a simple way to get rewards on your digital tokens. By staking with Lido your tokens remain liquid and can be used across a range of DeFi applications, getting extra rewards. Lido allows users to earn staking rewards without locking assets or maintaining staking infrastructure.
Users can deposit their ether in Lido smart contracts and receive stETH -- a tokenized version of staked ether -- in return.
How Lido works
Step 1 - Stake any amount of your tokens to access daily staking rewards
Step 2- Receive liquid token strokes and start receiving rewards immediately.
Step 3 - Use your strokes across DeFi to get more reward opportunities for your daily staked rewards
Lido supports staking on Ethereum, Terra, Solana, Polygon, Kusama, and Polkadot networks.
Lido has two types of tokens
Liquid stETH tokens - The stETH is a tokenised version of staked ether. It is a liquid alternative to the staked ether.
Lido DAO - It governs a set of liquid staking protocols with Lido on Ethereum among them.
Lido consists of several parts
- StETH tokens
- Deposits and stETH mining
- Node operator registry
- Beacon chain oracles
LIDOUSD surged more than 52% in the past one week. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $3.40 and is currently trading around $3.332.
The bullish invalidation can happen if the pair closes below $1.95. On the lower side, the near-term support is $3. Any break below targets $2.65/$2.20. Any breach below $1.95 targets $1.70/$1.50
The pair's near-term resistance is around $3.70. Any breach above confirms minor bullishness. A jump to $4 is possible. A surge past $4 will take it to $5.
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It is good to buy on dips around $2.60 with SL around $1.80 for TP of $3.70/$4
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