Lido DAO Price

What Is Lido DAO?

Lido DAO is a decentralized autonomous organization that offers users the ability to stake Ether (ETH) without locking it up. Stakers can continue engaging in on-chain activities, including lending.

Lido DAO (LDO) Price

LDO was launched in December 2020 when Ethereum introduced Phase 0 of Ethereum 2.0, which was basically its plan to transition to a proof of stake (PoS) mechanism from proof of work (PoW).

LDO price had a strong start, exceeding $1 by Jan 7, 2021. From there, it dropped to a low of $0.58 on Jan 22 before skyrocketing to $3.28 by Feb 2. Its price dropped back down to support at $0.51 by Mar 23, 2021. Its next rally took place over the following five months, reaching a high of $6.36 on Aug 22. The rally was said to be due to the launch of the Lido Ecosystem Grants Organization (LEGO) in April 2021. However, LDO’s price was still volatile over this uptrend with some dips that may have scared less-experienced investors into selling at the low.

LDO experienced two other notable peaks — $5.47 on Nov 14, 2021 and $4.93 on Apr 5, 2022. The former was due to the introduction of liquid staking on the Solana network, while the latter was attributed to Lido DAO’s introduction of support for liquid staking on the Polygon Network. Its price then retraced to $0.53 by June 2022 before rebounding. LDO reached an all-time low of $0.406 on June 16, 2022, during a period of general bearishness in the crypto market. Its first high after that was $2.93 on Aug 14, 2022, followed by a higher low of $0.90, which seemed to signal a reversal in the downtrend.

In February 2023, Lido voted on what to do with its $30 million in Ether. This major event caused bullish movement in LDO’s price as it jumped from $2.20 at the end of January past $3 in February. Another rally carried it to a high of $3.30 on Feb 19, 2023, after news that the SEC had asked the crypto exchange Kraken to shut down its crypto staking service in the U.S.

What Is LDO Used For?

LDO is used for making key decisions for Lido. Owners of the token have governance rights because Lido is a DAO. The more LDO that you hold, the more voting power that you have. Holders get their say in decisions concerning fees, protocol upgrades and what to do with Lido assets.

Lido DAO (LDO) Tokenomics

Approximately 36% of the LDO supply is in the Lido DAO treasury. Holders can submit proposals on what to do with the treasury’s assets. Another 22% of the supply goes to investors, and 20% is allocated for the initial developers. Validators and signature holders own 6.5% of LDO. The remaining 15% is allocated to founders and future employers. Founders had their LDO locked for one year before the tokens were vested for another year.

Lido DAO charges a 10% fee on staking rewards, which are shared between the DAO treasury and node operators.

Who Is the Founder of Lido DAO (LDO)?

Mary Tung, formerly an analyst at Blackstone Inc., is the founder of Lido DAO.

Read more: What Is Lido DAO Token (LDO)?

How to Store LDO

The safest place to store LDO is in a hardware wallet, such as Ledger.

Where to Buy LDO

You can buy LDO from any top crypto exchange, including Bybit. On Bybit, you can trade LDO as a USDT Spot pair (LDO/USDT) or as a USDT Perpetual (LDOUSDT).