How does Lido liquid staking work and what cryptocurrencies are supported?

3 answers

• Dec 15, 2021 · 3 years ago
  Lido liquid staking allows users to stake their cryptocurrencies and receive liquid tokens in return. These liquid tokens represent the staked assets and can be freely traded or used in other DeFi protocols. Lido uses a decentralized network of validators to secure the staked assets and generate rewards. As for the supported cryptocurrencies, Lido currently supports Ethereum (ETH) and Terra (LUNA) for liquid staking. Other cryptocurrencies may be added in the future based on community demand and technical feasibility.
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• Dec 15, 2021 · 3 years ago
  Liquid staking is a way to earn rewards from staking your cryptocurrencies without locking them up for a specific period. Lido liquid staking works by pooling the staked assets from multiple users and issuing liquid tokens in return. These liquid tokens can be easily traded or used in other DeFi applications. Lido supports Ethereum (ETH) and Terra (LUNA) for liquid staking, providing users with more flexibility and liquidity compared to traditional staking methods.
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• Dec 15, 2021 · 3 years ago
  Lido liquid staking is a popular choice among cryptocurrency investors who want to earn staking rewards while maintaining the flexibility to trade or use their assets. With Lido, you can stake your Ethereum (ETH) or Terra (LUNA) and receive liquid tokens in return. These liquid tokens can be easily transferred or traded on various exchanges. Lido's decentralized network of validators ensures the security and reliability of the staked assets. If you're interested in liquid staking, Lido is definitely a platform worth considering.
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