Kasper Rasmussen

Lido Development Update / Two Months of Lido

<p>It’s now been two months since we launched liquid staking with Lido. </p><p>When you stake your Ethereum with Lido you receive an equivalent amount of stETH which acts as your staked ETH balance. Your stETH balance changes daily - at 12pm UTC - to reflect your staking rewards and earnings. Using stETH, Lido allows you to unstake your Ethereum at any time, as well as use your staked ETH across other DeFi protocols - Yearn, Curve, 1inch, to name a few - for additional yields. </p><p> </p> <h2 id="staking">Staking</h2><p>Over the last 30 days: </p><ul><li>The total staked with Lido is now 180,998<strong>.</strong>68 ETH, with a total USD value of $302,917,583.71. This is up <strong>136.29%</strong> from month 1 (76,600.35 ETH) and further cements Lido’s position as the leading liquid Ethereum staking solution. </li></ul><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/0gwwqGwr07jqMp8P8zJpRU7d5AhbUS_aE1E2QKFRsgp83mF5Lqh1xCSmaTCYverQkoVODfQVQgcGr-6PZt6XFRXpE-Rz8xqbMDD-acwFUXz-zKALiZKBA2sbjPN-VxfD6lIyXiMJ" class="kg-image" alt></figure><ul><li>3,361 stakers are now using Lido to stake their Ethereum, up 85.07% from month 1. The average amount of ETH staked per user is 52.02 ETH.</li><li>This month Lido has paid out 327 stETH in staking rewards, bringing the total rewards up to 353.6 stETH.</li><li>At the time of writing, approximately <a href="https://duneanalytics.com/vsh/lido-finance-extended">5.65%</a> of all staked Ethereum is staked using Lido. Looking at the last 30 days however, more than 20% of all staked ETH was staked with Lido.</li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">In the last month around 25% of all staked Ethereum was staked using Lido. <a href="https://t.co/zEKfhRBPTz">pic.twitter.com/zEKfhRBPTz</a></p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1361253424558448641?ref_src=twsrc%5Etfw">February 15, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><ul><li>Two Dune Analytics dashboards were created to cover Lido - <a href="https://duneanalytics.com/k06a/lido-finance">Lido Finance</a> created by @k06a and <a href="https://duneanalytics.com/vsh/lido-finance-extended">Lido Finance Extended</a> created by <a href="https://twitter.com/_vshapovalov">@_vshapovalov</a>. Both of these complement the existing <a href="https://pro.nansen.ai/lido">Lido Nansen dashboard</a> which has expanded to include coverage of DAO votes.</li><li>This month, 17,000 ETH (~30 million USD) was staked with Lido in one transaction, representing the largest single transaction using Lido.</li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">17,000 ETH (≈30 million USD) has just been staked with Lido in one transaction.<br><br>That brings the total to 163,625 ETH 🏝️<a href="https://t.co/ts9JlSHO9h">https://t.co/ts9JlSHO9h</a></p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1361016113669304322?ref_src=twsrc%5Etfw">February 14, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><ul><li>We added a disclaimer on the <a href="https://stake.lido.fi/">stake.lido.fi </a>website where users could be easily directed to exchanges where a premium may be gained when staking with Lido.</li><li>A <a href="https://hackmd.io/2kKpoqE6SfaS9m5GunW90g?both">hackmd.io</a> page was created by <a href="https://twitter.com/_vshapovalov">@_vshapovalov</a> detailing the possible specifications for Lido withdrawals.</li></ul><p> </p> <h2 id="integrations">Integrations</h2><p>A fundamental mission at Lido is to remove the need to choose between Ethereum staking and DeFi. Through integrations with key protocols and applications throughout the DeFi space, we’re allowing stakers to put their staked Ethereum to use to further support the Ethereum community and help grow its use-cases.</p><p>We are incredibly proud of the wide range of integrations which already exist - just two months in - and we look forward to building on this initial success. </p><ul><li>On February 2nd we helped launch a ‘Quadro Farming’ initiative for stETH/LDO liquidity providers together with the 1inch team. This initiative allows LPs to earn rewards in up to four different ways: in 1inch, trading fees, stETH and LDO, to further facilitate the liquidity of stETH and LDO tokens. In case you missed it, check out our <a href="https://blog.lido.fi/guide-to-1inch-quadro-farming/">Guide to 1inch ‘Quadro Farming’</a>. In line with this initiative, the Lido DAO approved a vote to allocate 250,000 LDO to 1inch Farm LPs.</li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">No time to explain – on February, 2, midnight (00:01 UTC), we're launching an unprecedented 'quadro farming' program for <a href="https://twitter.com/search?q=%24stETH&src=ctag&ref_src=twsrc%5Etfw">$stETH</a>-$LDO pool! 😈💰<a href="https://t.co/KUfp4CPhaF">https://t.co/KUfp4CPhaF</a> <a href="https://twitter.com/LidoFinance?ref_src=twsrc%5Etfw">@LidoFinance</a> <a href="https://twitter.com/hashtag/DeFi?src=hash&ref_src=twsrc%5Etfw">#DeFi</a> <a href="https://t.co/jMN5LHUc4I">pic.twitter.com/jMN5LHUc4I</a></p>— 1inch.exchange (@1inchExchange) <a href="https://twitter.com/1inchExchange/status/1356325378671992832?ref_src=twsrc%5Etfw">February 1, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><ul><li>Two weeks ago LDO was added to the SushiSwap Onsen menu allowing users to earn up to 25% APY for providing LDO/ETH liquidity. <a href="https://sushiswap.fi/farms/special">Onsen</a> is a secondary product launched by SushiSwap in order to initiate liquidity mining incentives on their platform to further improve market efficiency and stability. Check out our ‘<a href="https://blog.lido.fi/liquidity-mining-with-sushiswap-onsen/">Guide to SushiSwap Onsen</a>’ to get started.</li><li>stETH was added to Harvest Finance allowing LPs to earn up to 35% APY in return for providing CRV/stETH liquidity. Harvest Finance is a DeFi platform providing users with the highest yields available across the most innovative DeFi protocols, optimising yields through use of the latest DeFi farming techniques. To get set up on Harvest Finance, visit <a href="https://harvest.finance">harvest.finance</a>.</li><li>Lido has partnered with Unslashed Finance, a novel blockchain-based insurance protocol, to insure more than $250 million worth of staked ether. This protects Lido stakers against up to 5% slashing, significantly mitigating one of the primary risks associated with Ethereum staking. </li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr"><a href="https://twitter.com/LidoFinance?ref_src=twsrc%5Etfw">@LidoFinance</a> has just purchased enough slashing cover for 196,749.858268 stETH from <a href="https://twitter.com/UnslashedF?ref_src=twsrc%5Etfw">@UnslashedF</a>, DAO-a-DAO. <a href="https://t.co/XtHGDmFgWf">https://t.co/XtHGDmFgWf</a></p>— Vasiliy Shapovalov (@_vshapovalov) <a href="https://twitter.com/_vshapovalov/status/1361002502561366019?ref_src=twsrc%5Etfw">February 14, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><ul><li>A vote was passed to continue Curve ETH/stETH LP rewards for another 30 days, until March 12th. In line with this, 500,000 LDO were allocated to Curve LPs as incentive. </li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">The new round of LDO rewards for <a href="https://twitter.com/CurveFinance?ref_src=twsrc%5Etfw">@CurveFinance</a> stETH/ETH LP's has started. <br><br>500,000 LDO will be distributed to stETH/ETH LPs over the next 30 day period, ending on March 12th.</p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1360308763010322437?ref_src=twsrc%5Etfw">February 12, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><p> </p> <h2 id="dao">DAO</h2><ul><li>This month we launched a <a href="https://snapshot.vote/#/lido-snapshot.eth">Lido Snapshot</a> forum intended to function as a signalling platform to determine proposal sentiment prior to launching on-chain votes. So far Snapshot has been used to vote across a number of topics including:</li></ul><ol><li>The use of <a href="https://snapshot.vote/#/lido-snapshot.eth/proposal/QmbdFJqSW7STonq5YDpgCVNZ19ji2RYtM9C95MrVohh4R4">stETH as collateral on ARCx</a>.</li><li>The <a href="https://snapshot.vote/#/lido-snapshot.eth/proposal/Qmd1tFviq2hhWrXcvJQUx18YBaVFfT46uVSW1qn2dgsMsk">continuation of Curve LP rewards</a>.</li><li>Providing stakers with <a href="https://snapshot.vote/#/lido-snapshot.eth/proposal/QmRoepWm1zF6oVCKWgrwpRJv9xrUMW2hoCT6ukR2doRrTR">slashing insurance through Unslashed</a>.</li><li>The <a href="https://snapshot.vote/#/lido-snapshot.eth/proposal/QmPdKHatBiaZEAkJ384Gybq2xCzVSsa2CpFPmGRzudCdnG">allocation of LDO rewards to 1inch stETH/LDO LPs</a>. <br></li></ol><ul><li>In February we also introduced the Lido DAO Treasury Fund - a fund intended to develop and upgrade the Lido protocol to solidify our position as the leading liquid Ethereum staking solution. Use-cases for the treasury fund include insurance fund, development grants / gitcoin grants, salaries and compensation, legal requests, research inquiries with other protocols and much more. For a breakdown, check out: <a href="https://twitter.com/LidoFinance/status/1357415738143817728">Lido DAO treasury fund</a>. <br></li><li>Lido participated in a MakerDAO Collateral Onboarding call to make the case for the use of stETH as collateral across Maker. As an extension of this, stETH was greenlit as collateral and the onboarding process has begun. Track the vote status <a href="https://vote.makerdao.com/polling/QmWfPcBx?network=mainnet#poll-detail">here</a>. <br></li><li>We launched the “<a href="https://research.lido.fi/t/node-operator-sub-governance-new-node-operator-application-process/344">Lido Node Operators Sub Governance Group</a>”, a group of existing founding node operators operating as consultants tasked with aiding in determining the addition of new node operators with Lido.<br></li><li>A number of new proposals were voted upon over the course of the last month:</li></ul><ol><li><strong>Proposal #40</strong>: Set the maximum number of validators to stake for the node operator #1 to 1000</li><li><strong>Proposal #41</strong>: Node Operators Registry: Add node operator named Everstake.one with reward address 0x3D5A…B97F and staking limit 0.</li><li><strong>Proposal #42</strong>: Allocate 250,000 LDO to liquidity providers on LDO/stETH pair on 1inch exchange:</li><li><strong>Proposal #43</strong>: Create a new payment of 5000000 LDO to 0x753D…1709 for 'Incentives for stETH/ETH Curve LPs'.</li><li><strong>Proposal #44</strong>: Create a new payment of 50000 LDO to 0x2Ca7…5CF4 for 'Purchase for slashing insurance'.</li><li><strong>Proposal #45</strong>: Set the maximum number of validators to stake for the node operator #2 to 2000<br></li></ol><p>All active and past votes can be tracked via <a href="https://mainnet.lido.fi/#/lido-dao/0x2e59a20f205bb85a89c53f1936454680651e618e/">mainnet.lido.fi</a>. </p><p> </p> <h2 id="community">Community</h2><ul><li>We launched the <a href="https://lido.fi/lido-ecosystem">Lido Ecosystem</a> page to track all DeFi, Wallet and Exchange integrations for both Lido and stETH. Think of any that are missing from the page? Tweet us and let us know.</li><li>We had the honor of stopping by Zapper TV to discuss all things Lido - specifically breaking down various liquidity initiatives and doing a walkthrough of how to add stETH liquidity to Curve. Watch the full show here: </li></ul><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">Want to stake ETH but can't commit to a validator? We discussed options today with <a href="https://twitter.com/LidoFinance?ref_src=twsrc%5Etfw">@LidoFinance</a> CoFounder <a href="https://twitter.com/_vshapovalov?ref_src=twsrc%5Etfw">@_vshapovalov</a>.<br><br>💧Stake <a href="https://twitter.com/hashtag/ETH?src=hash&ref_src=twsrc%5Etfw">#ETH</a> at <a href="https://t.co/s2LZtt5WbP">https://t.co/s2LZtt5WbP</a><br>⚖️Swap ETH<>stETH<br>🌀<a href="https://twitter.com/CurveFinance?ref_src=twsrc%5Etfw">@CurveFinance</a> stETH LP (earn 4 yields)<br>🔒Farm <a href="https://twitter.com/iearnfinance?ref_src=twsrc%5Etfw">@iearnfinance</a> stETH yVault<a href="https://t.co/3JyjAzQIpW">https://t.co/3JyjAzQIpW</a></p>— DeFi Dad ⟠ defidad.eth (@DeFi_Dad) <a href="https://twitter.com/DeFi_Dad/status/1357169893146296327?ref_src=twsrc%5Etfw">February 4, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><p> </p> <h2 id="the-month-ahead">The Month Ahead</h2><ul><li>Completion/adoption of stETH as collateral in Aave and Maker.</li><li>Further integrations: Proposal of stETH as collateral in Cream and Compound.</li></ul><p>Many integrations and developments have been achieved this month with Lido, and many more are to come in the following months. We are expanding our reach to more teams and to more protocols which will help push the respective protocol and Lido forward, creating new innovative ways stETH may be used in the DeFi ecosystem.</p><p>If you would like to share any of your ideas, questions, or concerns please visit <a href="https://research.lido.fi/">research.lido.fi</a>.</p><p> </p> <h2 id="resources"><strong>Resources</strong></h2><ul><li><strong><strong><a href="https://stake.lido.fi/"></a></strong></strong><a href="https://stake.lido.fi/">Stake with Lido</a></li><li><a href="https://twitter.com/lidofinance">Twitter</a></li><li><a href="https://reddit.com/r/lidofinance">Reddit</a></li><li><a href="https://t.me/lidofinance">Telegram</a></li><li><a href="https://discord.com/invite/vgdPfhZ">Discord</a></li><li><a href="https://blog.lido.fi/">Blog</a></li><li><a href="https://research.lido.fi/">DAO forum</a></li><li><a href="https://github.com/lidofinance">Documentation</a></li></ul>

Kasper Rasmussen

Lido, General, stETH

A guide to 1inch’s ‘Quadro Farming’ program

<p><em>In this guide, we walk you through how to navigate 1inch’s ‘Quadro Farming’ program, letting stETH-LDO LPs earn rewards in 4 unique ways. </em></p><p>On February 2nd, 1inch announced a new <a href="https://1inch.exchange/#/dao/pools?token0=0x5a98fcbea516cf06857215779fd812ca3bef1b32&token1=0xae7ab96520de3a18e5e111b5eaab095312d7fe84">LDO-stETH liquidity pool</a> allowing liquidity providers on the site to earn rewards in four different ways:</p><ol><li>LPs contributing liquidity to the pool will earn 1INCH tokens.</li><li>LPs will earn a proportion of pool swap fees.</li><li>Users will earn stETH as an <a href="https://www.lido.fi">Ethereum staking</a> reward (in line with Lido’s Eth2 staking APR).</li><li>To encourage liquidity, Lido is voting on the <a href="https://research.lido.fi/t/proposal-ldo-incentives-to-liquidity-providers-on-ldo-steth-pair-on-1inch-exchange/274">allocation of LDO tokens</a> to supplement the reward rate. </li></ol><p>The 1inch stETH-LDO program started on February 2nd - 00.01 UTC - and will run for a period of 4 weeks. Throughout this 4 week period, 0.02% of the 1INCH token supply will be distributed to pool LPs (300,000 1INCH tokens). In line with this, Lido will allocate an additional 0.025% of the LDO token supply (250,000 LDO tokens) to the liquidity initiative. </p><p>1inch Liquidity Protocol is an initiative intended to develop the liquidity surrounding new tokens. By taking part in this program, the Lido community will benefit from improved token stability and liquidity, much to the benefit of both Lido DAO members and Ethereum stakers. </p><p> </p> <h2 id="summary">Summary</h2><ul><li>Provide liquidity in the stETH-LDO liquidity pool to earn 1INCH tokens and pool swap trading fees.</li><li>Benefit from Eth2 staking rewards through exposure to stETH.</li><li>Earn additional rewards through an LDO token allocation.</li><li>Retain your exposure to LDO and stETH.</li><li>Receive rewards in real-time.</li><li>Unstake your pooled tokens at the click of a button.</li></ul><p> </p> <h2 id="what-is-1inch">What is 1inch?</h2><p><a href="https://1inch.exchange/">1inch</a> is a liquidity and decentralised exchange aggregator which sources liquidity from a number of DEX platforms including Uniswap, Curve, 0x, and many more. 1inch splits single trades across multiple DEXs for users to get the best market rates. </p><p>Users wishing to participate in the pool should provide stETH and LDO in a 50/50 split. </p><p> </p> <h2 id="how-to-provide-liquidity-to-1inch">How to provide liquidity to 1inch</h2><p>Users can easily provide pool liquidity on 1inch to improve liquidity and price stability of both LDO and stETH, earning 4 separate rewards in the process. </p><ol><li>Visit <a href="https://1inch.exchange/#/dao/pools">1inch.exchange/#/dao/pools</a>.</li><li>Search for LDO using the filter.</li><li>Select the LDO / stETH ‘Farming’ pool.</li><li>Click ‘Provide Liquidity’.</li><li>Choose the proportion of LDO and stETH you wish to provide. Please note this will automatically be done in a 50/50 split.</li><li>Choose the quantity of LP tokens to mint. This will be based on the quantity of LDO and stETH you provide. Read more about 1inch LP tokens below.</li><li>Once you are satisfied with the numbers, press Unlock and unlock both your LDO and stETH tokens. You will need to confirm both of these events using your Ethereum wallet.</li><li>Once tokens are unlocked, press Provide Liquidity and confirm the transaction using your Ethereum wallet.</li></ol><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh5.googleusercontent.com/BYIOUwsWpefRn3VG6WOp0WT_-0CMCbHnPF1GHJLZPAZ54x1bjRtWRPIJQlLKBVliXmFS7s4DFUDJO4UzCF9X1_WkEo91d8XDhgDiAACiLo4dUYmkLA-LypYNOU2svKZILZ9RGty1" class="kg-image" alt><figcaption><a href="https://blog.lido.fi/guide-to-1inch-quadro-farming/1inch.exchange/#/dao/pools">1inch LDO-stETH pool</a></figcaption></figure><p> </p> <h2 id="how-to-contribute-to-1inch-liquidity-farms">How to contribute to 1inch Liquidity Farms</h2><p>Once the transaction has been completed you will be providing liquidity to the stETH-LDO pool on 1inch. </p><p>By doing so you will have earned 1LP-stETH-LDO Tokens, which represent your stake in the liquidity pool. Your 1inch LP tokens can be staked across 1inch Farms for the additional rewards outlined above. </p><p>To stake 1inch LP tokens, follow these steps:</p><ol><li>Visit <a href="https://1inch.exchange/#/dao/farming">1inch.exchange/#/dao/farming</a>.</li><li>Navigate to the stETH-LDO farm.</li><li>Once found, click Deposit.</li><li>A pop-up window will show up with your 1LP-stETH-LDO balance and an overview of your staked amount and daily/monthly/yearly earnings.</li><li>Choose the amount of 1LP-stETH-LDO you wish to stake out of your existing balance and press Unlock Token. Confirm the transaction in your Ethereum wallet.</li><li>Once unlocked, you can now deposit your 1inch LP tokens. Do so by clicking Deposit and confirming the transaction using your Ethereum wallet. </li></ol><p> </p> <h2 id="how-to-acquire-steth-ldo">How to acquire stETH / LDO</h2><p>Users interested in contributing to the 1inch ‘Quadro Farming’ program can purchase stETH and LDO beforehand using the 1inch aggregator markets. </p><p>To do so, visit <a href="https://1inch.exchange/#/">1inch.exchange/#/</a><strong> </strong>and swap your ETH to LDO, stETH or both. </p><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh4.googleusercontent.com/z0d2DBvFMbMrzfJDa9di9HUFVfycq0VSv7XnFU0ue0Vyy0LYsTV6uQsus01-HuFOTuUeCdQYvOm-YmzuQNaUjl_QMgiEQlbxRA2qox2Grd8XJiSaQSWyuQyRkNBjY-tAWHMKpL09" class="kg-image" alt><figcaption><a href="https://1inch.exchange/">The 1inch exchange interface</a></figcaption></figure><p> </p> <h2 id="learn-more">Learn more</h2><ul><li><a href="https://blog.lido.fi/introducing-lido/">What is Lido?</a></li><li><a href="https://blog.lido.fi/how-lido-works/">How Lido works.</a></li><li><a href="https://stake.lido.fi/">Stake with Lido.</a></li><li><a href="https://help.lido.fi/hc/en-us/articles/360018916980-1Inch-FAQ">1inch FAQ</a>.</li><li><a href="https://help.lido.fi/hc/en-us/articles/360018914220-Staking-with-Lido-using-1inch">Staking with Lido using 1inch</a>.</li></ul>

Kasper Rasmussen

Lido

Lido Development Update / One Month of Lido

<p>Today marks the one month anniversary since the <a href="https://twitter.com/LidoFinance/status/1340105993020198920">launch of Lido</a>. 🏝️ </p><p>It has been an amazing month and we have been overwhelmed by the continuous support we have received from the Ethereum community. </p><p>Below we have collected a few of the most exciting developments which have taken place over the past month. </p><p> </p> <h2 id="staking">Staking</h2><p>It has been exactly one month since we launched liquid Ethereum staking using <a href="http://stake.lido.fi">stake.lido.fi</a>. </p><p>The process is simple - instead of running complex validation infrastructure, stakers can send their ETH to the Lido smart contracts to manage staking for them. In exchange, users receive stETH - a token representing their staked ether - which they can send and trade as they would any other token. stETH undergoes a balance rebase daily (at 12pm UTC) where a user's balance is updated with their Ethereum staking rewards.</p><p>Over the last 30 days, we have seen: </p><ul><li>76,600.35 ETH staked with Lido, with a total USD value of $93,454,474.41, positioning Lido as the leading liquid Ethereum staking solution.</li></ul><figure class="kg-card kg-image-card"><img src="https://blog.lido.fi/content/images/2021/01/Screenshot-2021-01-20-at-18.22.46.png" class="kg-image" alt srcset="https://blog.lido.fi/content/images/size/w600/2021/01/Screenshot-2021-01-20-at-18.22.46.png 600w, https://blog.lido.fi/content/images/size/w1000/2021/01/Screenshot-2021-01-20-at-18.22.46.png 1000w, https://blog.lido.fi/content/images/size/w1600/2021/01/Screenshot-2021-01-20-at-18.22.46.png 1600w, https://blog.lido.fi/content/images/size/w2400/2021/01/Screenshot-2021-01-20-at-18.22.46.png 2400w" sizes="(min-width: 720px) 720px"></figure><ul><li>1,816 users staking their Ethereum with Lido, with approximately 21.64 stETH in rewards paid out to stakers. </li><li>The exchange rate between ETH and stETH has remained strong. Following a few days of minor fluctuations, the peg is now steadily returning back to 1:1 across key markets.</li></ul><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/5voNp9WQ9Ak8szBVhqBv1UFmcimab8ZnNQKtJIBF3_U3snsnLtbtenwPyFaKkp9lgGdyWBBn1g7NUM10VeyCeNR-0ucmY-U4Igw43V7u8JwANLJS89HgoA8GMVV4GnQuKK7IDbYt" class="kg-image" alt></figure><ul><li>Lido’s validators activated, allowing stETH holders to earn daily Ethereum staking rewards.</li><li>A <a href="https://pro.nansen.ai/lido">public Lido dashboard</a> added to Nansen.ai, allowing users to track Lido staking metrics in real-time. </li></ul><p>The feedback since launch has been fantastic and we are eager to build upon this initial success. </p><p> </p> <h2 id="integrations">Integrations</h2><p>A core aspect of Lido and stETH is the multitude of integrations which offer stakers additional yields on their staked ether. With these integrations, users can participate in the DeFi ecosystem whilst still accruing Eth2 rewards earned from staking during Phase 0.</p><p>In the past month we have seen successful integrations across Curve, 1inch, Argent and a number of other platforms, and we’re looking forward to further integrations across e.g. Aave, Maker and similar platforms in the near future. </p><ul><li>Lido’s staked ETH (stETH) has been successfully integrated across <a href="https://www.curve.fi/">Curve Finance</a>, <a href="https://1inch.exchange/#/ETH/stETH">1inch</a> and <a href="https://uniswap.org/">Uniswap</a>.</li><li>stETH was added to <a href="https://twitter.com/imTokenOfficial/status/1340906804847337473">imToken</a>, <a href="https://twitter.com/TrustWalletApp/status/1349326865413124096">Trust Wallet</a>, <a href="https://www.argent.xyz/blog/liquid-eth-staking-in-argent/">Argent Wallet</a> and <a href="https://twitter.com/zerion_io/status/1349698429191131143">Zerion</a> allowing users to stake with Lido directly from their Ethereum wallet.</li><li>Proposals have been created to list stETH across <a href="https://governance.aave.com/t/proposal-add-support-for-steth-lido/2123">Aave</a> and <a href="https://forum.makerdao.com/t/steth-mip6-collateral-onboarding/5762">Maker</a>, allowing for the use of stETH as collateral within the DeFi space.</li><li>A <a href="https://twitter.com/bantg/status/1342403059599740928">Yearn St. Ether</a> vault was developed by Banteg, undoing the rebasing aspect of stETH to improve integrations across LP protocols.</li><li>Lido was added as a liquidity provider on the <a href="https://twitter.com/AndreCronjeTech/status/1351285564767563776">keep3r.network</a>.</li><li>An experimental <a href="https://twitter.com/arbingsam/status/1349824404075720704">Yearn st. Ether-ETH Pool</a> strategy was developed by Sam Priestley. This strategy deposits stETH/ETH into Curve LP, farms and sells rewards for ETH/stETH, then restakes those earnings back into Curve - allowing liquidity providers in the stETH/ETH Curve pool to automatically compound their rewards.</li></ul><p> </p> <h2 id="dao">DAO</h2><p>The Lido DAO launched last month and has been actively voting across a number of topics. Stop by <a href="http://research.lido.fi">research.lido.fi</a> to share your thoughts on our governance discussions and don’t hesitate to chime in if there’s a topic you find relevant. </p><ul><li>Lido went through a <a href="https://blog.lido.fi/lido-withdrawal-key-ceremony/">withdrawal key ceremony</a> where various participants of the DeFi space engaged in improving the security infrastructure of Lido.</li><li>Lido’s governance token - <a href="https://twitter.com/LidoFinance/status/1346521421841887232">LDO</a> - was distributed to DAO members, developers, backers, key holders and early stETH adopters.</li><li>The Lido DAO successfully completed voting across <a href="https://mainnet.lido.fi/#/lido-dao/0x2e59a20f205bb85a89c53f1936454680651e618e/">39 unique proposals</a> related to node operator additions, validator numbers, user airdrops and token initiatives.</li><li>An LDO airdrop was voted through by the Lido DAO distributing 0.4% of total LDO supply to early Lido stakers.</li><li>A vote was passed to <a href="https://twitter.com/LidoFinance/status/1347937197727559689">distribute 0.5% of total LDO</a> supply to reward stETH liquidity providers on Curve across a 30-day period (ending February 13th).</li><li>There’s an ongoing discussion of a <a href="https://research.lido.fi/t/transparent-predictable-emission-schedule/187/9">transparent, predictable emission schedule</a> for LDO to improve clarity surrounding LDO issuance.</li><li>Lido is discussing <a href="https://research.lido.fi/t/counteract-currently-low-reward-rate-with-ldo-emissions/194/3">topping up Ethereum stakers with LDO</a> tokens to counteract an initially low staking rate.</li><li>The Lido Node Operator Admission ceremony is under development with the <a href="https://research.lido.fi/t/discussion-on-node-operator-admission-criteria-and-process/203/3">key admission criteria</a> being finalised.</li><li>A number of validators submitted proposals to participate as node operators for Lido: <a href="https://research.lido.fi/t/node-operator-admission-p2p-validator/46/2">P2P Validator</a>, <a href="https://research.lido.fi/t/node-operator-admission-chorus-one/44/2">Chorus One</a>, <a href="https://research.lido.fi/t/node-operator-admission-alpha-virtual/54">AlphaVirtual</a>, <a href="https://research.lido.fi/t/node-operator-admission-everstake/178">Everstake</a>, <a href="https://research.lido.fi/t/node-operator-admission-blockscape/136">blockscape</a>, <a href="https://research.lido.fi/t/node-operator-admission-infstones/197">InfStones</a>, <a href="https://research.lido.fi/t/node-operator-admission-freshlido/129">FreshLido</a>. </li></ul><p> </p> <h2 id="community">Community </h2><p>We’ve seen a number of fantastic community initiatives implemented this month, ranging from innovative UIs and comprehensive liquidity guides. We’ve summarised the best below: </p><ul><li>A fantastic UI was created for the Yearn Lido St. Ether Vault - <a href="https://lido.ape.tax/">lido.ape.tax</a> - developed by <a href="https://twitter.com/pshenichnyy">@pshenichnyy</a><a href="https://twitter.com/victor_suzdalev"> and @victor_suzdalev</a> of Lido.</li><li>A comprehensive video tutorial for staking stETH using Curve was created by <a href="https://twitter.com/gabrielhaines">@gabrielhaines</a>. In case you missed it, check it out <a href="https://www.youtube.com/watch?v=yYPDSfUCl-o&feature=youtu.be">here</a>.</li><li>Lido’s following on <a href="https://twitter.com/LidoFinance">Twitter</a> has surged to 10.3k followers since our launch.</li><li>A <a href="https://www.youtube.com/watch?v=tn95x1RHH1w">short video guide</a> explaining easy methods on how to stake ETH in Ethereum 2.0 was created by The Defiant. Lido - alongside our integrated wallet partner, Argent - was briefly mentioned.</li></ul><p> </p> <h2 id="media">Media</h2><ul><li>The Block covered our funding round and launch of our DAO with a piece titled “<a href="https://www.theblockcrypto.com/linked/87761/eth2-staking-protocol-lido-raises-2-million-funding">Eth2 staking protocol Lido raises $2 million in new funding</a>”.</li><li>Lido’s journey, together with our Yearn integration, was covered by Coindesk in a recent article titled “<a href="https://www.coindesk.com/lido-protocol-does-eth-2-0-staking-but-with-a-defi-twist">Lido Protocol Does Eth 2.0 Staking but With a DeFi Twist</a>”.</li></ul><h2 id="the-month-ahead">The Month Ahead</h2><p>It’s been a thrilling month and there are no signs of Lido slowing down. There are a lot of exciting things to come in the month ahead with a focus on integrations and growing the liquidity infrastructure surrounding stETH. </p><p>In the meantime, head to <a href="https://www.curve.fi/steth">Curve</a> to purchase stETH at a slight discount and contribute liquidity to the Lido ecosystem. In case you missed it, check out our guide to using Curve: <a href="https://blog.lido.fi/providing-steth-liquidity-via-curve-to-receive-rewards/">How To: Providing stETH liquidity via Curve</a>.</p><p> </p> <h2 id="resources">Resources</h2><ul><li><a href="https://stake.lido.fi">Stake with Lido</a></li><li><a href="https://twitter.com/lidofinance">Twitter</a></li><li><a href="https://reddit.com/r/lidofinance">Reddit</a></li><li><a href="https://t.me/lidofinance">Telegram</a></li><li><a href="https://discord.com/invite/vgdPfhZ">Discord</a></li><li><a href="https://blog.lido.fi/">Blog</a></li><li><a href="https://research.lido.fi">DAO forum</a></li><li><a href="https://github.com/lidofinance">Documentation</a></li></ul>

Kasper Rasmussen

Lido, ETH 2.0

How To: Providing stETH liquidity via Curve

<p>Users who provide liquidity in the Curve stETH pool and stake their LP tokens into the Curve gauge will receive 0.5% of the total LDO supply over the next 30 days proportionally to their provided liquidity. Rewards are paid out immediately. </p><p>500,000 LDO tokens were supplied to pool LPs between January and February, and the LDO reward initiative will now continue with another 0.5% of LDO supply distributed to liquidity providers on <a href="https://www.curve.fi/">Curve</a> between Feb 12 - March 12. </p><p>The reward contract has been deployed. There is an active vote to transfer LDO from the DAO treasury to the rewards contract which will be responsible for distributing the LDO to the Curve liquidity providers who stake in the Curve gauge. LDO rewards are accrued per block. </p><p> </p> <h2 id="summary">Summary</h2><ul><li>Provide liquidity in the Curve stETH pool and receive pool trading fees.</li><li>Receive LDO rewards proportional to your provided liquidity within 30 days.</li><li>Retain your exposure to stETH to earn staking rewards.</li><li>Unstake whenever you decide to.</li><li>Participate in the Lido DAO with newly acquired LDO.</li></ul><p> </p> <h2 id="how-does-it-work">How does it work?</h2><p>The stETH pool is a liquidity pool that contains stETH and ETH. Users can interact with these pools to purchase stETH or ETH with low slippage. Any transactions that take place within this pool are paid out to liquidity providers via trading fees. </p><p>Users who provide their liquidity to this pool will receive LP tokens in return. They can then stake their LP tokens into the Curve gauge to receive trading fees alongside the newly proposed incentivized rewards; LDO and CRV.</p><p> </p> <h2 id="why-is-this-important">Why is this important?</h2><p>Without a liquidity pool for stETH, users cannot swap their stETH for ETH. This swapping between stETH and ETH effectively unstakes their ETH from the Lido contract. Without any liquidity pools, users will not be able to unstake their staked ETH until Ethereum launches Phase 2.</p><p>To incentivize liquidity for stETH, liquidity providers will be rewarded for providing their tokens into the Curve liquidity pool. In this way, liquidity providers will be incentivized to keep Lido liquid, where users can decide to unstake their ETH at any time for whatever amount. This proposal will benefit the Lido ecosystem and reward the early adopters who have interacted directly with Lido.</p><p> </p> <h2 id="curve-walkthrough">Curve Walkthrough</h2><h3 id="how-do-i-provide-liquidity-into-curve">How do I provide liquidity into Curve?</h3><ul><li>Visit <a href="https://www.curve.fi/steth/deposit">www.curve.fi/steth/deposit</a> and connect your wallet.</li><li>Provide liquidity in the Curve stETH pool by clicking “Deposit & stake in gauge”.</li><li>Choose the proportion of ETH/stETH to stake.</li><li>Modify the gas price and confirm the transaction.</li><li>Receive LP tokens in return.</li><li>These LP tokens should be automatically deposited into the gauge.</li><li>Start receiving LDO and CRV rewards alongside trading fees.</li></ul><p>When you deposit stETH to Curve, your tokens are split between ETH and stETH, with the precise balances fluctuating constantly due to price trading. </p><p>This is done automatically and does not affect your share of the LDO distribution. </p><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh4.googleusercontent.com/FstZneySTCa1-SA07iKbs6tEq6gMCdsljb36AfA-P0kZlhHiJATOY08FVhiIL1SRQyDjjXDP-Z4dY1OfBxger76bfR7DDM25g2E3941rTHtm3YzonO-GQnIPwmvOyUlGCCYJN0cu" class="kg-image" alt><figcaption>Curve Deposit interface</figcaption></figure><h3 id="how-do-i-use-curve-gauges">How do I use Curve gauges? </h3><p>When using Curve, users can stake their LP tokens into the Curve gauge liquidity system to earn additional trading fees and incentivized rewards. </p><p>To stake your stETH tokens in gauge:</p><ul><li>Visit <a href="http://www.curve.fi/steth/deposit">www.curve.fi/steth/deposit</a>.</li><li>If you have not made your first deposit, press “Deposit and stake in gauge”. This will automatically stake your deposited stETH and you will start earning steCRV.</li><li>If your stETH is already deposited but not staked, press “Stake unstaked in gauge”.</li><li>Using the ‘stake %’ field, choose the amount you want to stake. This can be unstaked anytime. </li></ul><p>Please note that when you stake your LP tokens - steCRV - using gauge, they will no longer be visible in your Metamask wallet. They will be visible again upon unstaking. </p><p> </p> <h3 id="how-do-i-claim-my-rewards">How do I claim my rewards? </h3><p>Every time someone trades on this Curve pool you’ll get trading fees. They are accrued automatically every trading tx and you do not need to do anything here. </p><p>To claim your rewards:</p><ul><li>Visit the <a href="https://www.curve.fi/steth/withdraw">Withdraw</a> page.</li><li>Click on “Claim” to receive your rewards - sent to your wallet - and to keep staking.</li><li>To exit the pool entirely, click “Withdraw and claim”. Upon doing so you will receive your rewards and withdraw your tokens from Curve back to your wallet.</li></ul><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh6.googleusercontent.com/QdyoFEFT7D4z1CyJj5MzuBWMy4AVYeGxb-YCGUG5tCzAQrOXlNq4rQ3AWr3SvO8JTeZPTTV_tO6dH5P32ZU50XxD7TtDXSWt4ywnTtzYxWG_L5mTcov_-gF1cNIdl70niRkZqG7r" class="kg-image" alt><figcaption>Curve Withdrawal interface</figcaption></figure><h3 id="how-do-i-withdraw-steth-from-curve">How do I withdraw stETH from Curve</h3><p>Curve allows you to unstake and withdraw at any time, in the token of your choice. When unstaking from gauges you effectively unstake your stETH so you no longer earn steCRV tokens. </p><ul><li><strong>Unstake</strong>: To no longer stake your stETH in a Curve gauge to earn fees and additional steCRV LP tokens.</li><li><strong>Withdraw</strong>: To withdraw your tokens from Curve to your wallet. </li></ul><p>There are 3 options when withdrawing from Curve - <em>withdraw</em>, <em>withdraw & claim</em>, <em>unstake from gauge</em>. To withdraw your tokens from Curve you will first need to unstake if doing so. To unstake your stETH from Curve:</p><ul><li>Visit the <a href="https://www.curve.fi/steth/withdraw">Withdraw</a> page.</li><li>Access the ‘advanced unstaking options’ towards the bottom of the dashboard.</li><li>Here you will see an overview of your staked tokens. Choose the amount of tokens you want to unstake and press ‘Unstake staked’. </li></ul><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh4.googleusercontent.com/kXb4BSstHFWk7aRwWGrQQVsjHl3BuJxvyg95Wnnj-83czNE2DxHOgqj-C-0HTM-5VZLfEXlhIcyUFa7pEWiAGX0wV5cbOovzity2Y5qyIlkjQ7OnNjXgtlspE6YPy-4AcKCsjPBP" class="kg-image" alt><figcaption>Curve Staking/Unstaking interface</figcaption></figure><p> </p> <p>After unstaking your tokens you can now withdraw them from Curve.</p><ul><li>To exit the pool entirely, click “Withdraw and claim”. Upon doing so you will receive your rewards and withdraw your tokens from Curve back to your wallet.</li><li>Fill in the total amount of tokens you wish to withdraw (<em>share of liquidity</em>) or the precise token amounts (in ETH and stETH). You can also choose the combination of tokens to withdraw to your wallet - the split between ETH and stETH. </li></ul><p>Upon confirmation of withdrawal using your Ethereum wallet, your tokens will be withdrawn from Curve to your wallet.</p><p> </p> <h3 id="how-to-get-steth-token">How to get stETH token</h3><p>You can find a guide on how to stake ETH for stETH <a href="https://blog.lido.fi/staking-ethereum-with-lido/">here</a>.</p><p> </p> <h2 id="what-s-to-come">What’s to come?</h2><p>Another liquidity pool for stETH has been proposed. The stETH/DAI liquidity pool has been proposed by 0xMaki, a core team member and developer of SushiSwap, to be used in SushiSwap’s Onsen program.</p><p>There are many plans for stETH to be used in a variety of DeFi protocols in the future such as lending protocols, yield farming strategy protocols, aggregators, and many more to come. These are outlined in more detail here: <a href="https://research.lido.fi/t/possible-defi-protocol-integrations-with-lido-and-their-respective-incentives/50">Possible DeFi protocol integrations with Lido and their respective incentives</a>.</p><p>We highly encourage users to submit their proposals on the Lido forums to share their ideas to the community.</p><p> </p> <h2 id="resources">Resources</h2><ul><li><a href="https://blog.lido.fi/introducing-lido/">What is Lido?</a></li><li><a href="https://blog.lido.fi/how-lido-works/">How Lido Works</a></li><li><a href="https://resources.curve.fi/base-features/understanding-curve">Understanding Curve</a></li></ul>

Kasper Rasmussen

Lido

Introducing LDO

<p></p><p>The LDO token governs all Lido DAO governance and network decisions to ensure its prolonged stability and decentralized decision-making to facilitate the growth of fair, trustless and transparent liquid staking.</p><p></p><ul><li>LDO - the Lido DAO Governance token - is now live.</li><li>The LDO contract address is here: <a href="https://etherscan.io/token/0x5a98fcbea516cf06857215779fd812ca3bef1b32">etherscan.io/token/0x5a98fcbea516cf06857215779fd812ca3bef1b32</a></li><li>For now, founding members of the Lido DAO have LDO tokens. These are locked for 1 year, after which they will be vested over 1 year.</li><li>The only unlocked LDO in existence are the 36% of LDO in the DAO treasury. Anyone can make a proposal on how they can be used. If you have any initiatives you think will benefit the Lido protocol, share your thoughts in our governance platform: <a href="https://research.lido.fi">research.lido.fi</a>.<br></li></ul><p> </p> <p>The Lido DAO is pleased to announce the distribution of the LDO token - the Lido DAO governance token. </p><p>LDO has been distributed to early stakers across Lido. To check your balance, visit <a href="https://airdrop.lido.fi/">airdrop.lido.fi</a>.</p><h3 id="lido-ecosystem-dao-overview">Lido Ecosystem & DAO overview</h3><p>Lido is a DAO community which builds a liquid staking service for Ethereum. Inspired by the growth of the Ethereum ecosystem, Lido lets users stake their ETH tokens in a secure, non-custodial and transparent manner to contribute to the stability of the Ethereum ecosystem as a whole. </p><p>Lido’s Ethereum staking protocol has been built as a DAO to preserve Lido’s upgradability and stability whilst maintaining decentralised infrastructure. The Lido DAO governs a set of liquid staking protocols, deciding on Lido’s key parameters whilst spearheading Lido network upgrades. Members of the Lido DAO have the responsibility to govern Lido to maintain its ongoing efficiency and contribute to the overall growth of the Lido community.</p><p>There exist a number of reasons for why a DAO is the most optimal structure for Lido. Lido as a service is highly dependent on the development of the Ethereum beacon chain and its staking protocol. With a number of uncertainties surrounding the roll-out of Eth2.0, Lido is required to be upgradable. When faced with these uncertainties, the DAO-based governance approach will allow for Lido to remain flexible and adjust its staking service as necessary.</p><p>In addition to this, Lido’s design as a DAO will allow for the accumulation of service fees which can be managed and distributed transparently to cover development and insurance costs in a manner aligned with community interests.</p><p>With the mission to make staking simple, liquid, secure and decentralized for the end user, the Lido DAO has the following responsibilities: </p><ul><li>Launching Lido:</li><li>Deploy protocol smart contracts;</li><li>Set fees and other protocol parameters;</li><li>Select the threshold signature scheme participants among reputable individuals or organizations willing to provide the service;</li><li>Facilitate the multi-party computation ceremony to create the threshold signature account for staking rewards;</li><li>Assign initial DAO-vetted node operators.</li><li>Propose and update Lido’s parameters;</li><li>Approve incentives for parties that contribute towards DAO’s goals (e.g., stETH liquidity providers);</li><li>Propose and update Lido’s implementation for incoming Ethereum 2.0 features using DAO treasury funds;</li><li>Assign oracles to deliver reward/slashing rate feed to help establish stETH token balances;</li><li>Scout and qualify new node operators and penalize the existing ones slashed by Ethereum 2.0’s rules;</li><li>Manage the Lido DAO’s insurance and development funds;</li><li>Manage unbonding and withdrawals once available in Ethereum 2.0; </li></ul><p>It is our belief that a DAO is the optimal approach to launching Lido, balancing the benefits of full centralisation and decentralization to provide the most secure, adaptable experience for users of Lido. </p><p>The Lido DAO is actively voting on a number of parameters, including the addition of node operators and the number of validators for each node operator. The votes can be tracked in real-time on <a href="https://mainnet.lido.fi/#/lido-dao/0x2e59a20f205bb85a89c53f1936454680651e618e/">mainnet.lido.fi</a>. </p><h3 id="the-ldo-token">The LDO token</h3><p>Our mission with the Lido DAO is to distribute all decision-making to create a trustless staking service built around community-growth and self-sustainability. This is achieved through the LDO governance token. The launch of LDO is a significant step towards achieving this goal, driving decentralised ownership and facilitating development of a distributed, independent governance structure to lead the Lido DAO. </p><p>To have a vote in the Lido DAO, and to contribute to the determination of any of the topics outlined above, one must hold the LDO governance token. Holding LDO gives DAO members a vote in the future of Lido, allowing each DAO member to have a personal say in the community. </p><p>LDO voting weight is proportional to the amount of LDO a voter stakes in the voting contract. The more LDO in a user’s voting contract, the greater the decision-making power the voter gets. The exact mechanism of LDO voting can be upgraded just like the other DAO applications.</p><p>The LDO token will be used across all current and future DAO <a href="http://mainnet.lido.fi">votes</a>, giving every token holder a say in the direction and growth of the Lido DAO. <br></p><h3 id="lido-token-allocation">LIDO Token Allocation</h3><p>Upon the launch of the Lido DAO, 1 billion LDO tokens were minted. </p><p>At time of writing, founding members of the Lido DAO possess 64% of LDO tokens. These are locked for 1 year, after which they will be vested over 1 year. At the time of writing, the only unlocked LDO in existence are 0.4% airdrop distributed to early stakers and DAO treasury tokens. Anyone can make a proposal on how they can be used via <a href="http://research.lido.fi/" rel="noopener noreferrer">research.lido.fi</a>.</p><p>The allocation of these tokens is as follows:</p><ul><li>DAO treasury - 36.32%</li><li>Investors - 22.18%</li><li>Validators and signature holders - 6.5%</li><li>Initial Lido developers - 20%</li><li>Founders and future employees - 15%</li></ul><h3 id="what-s-next">What’s Next</h3><p>If you haven’t already, stake your Ethereum using Lido on <a href="https://stake.lido.fi">stake.lido.fi</a>. </p>

Kasper Rasmussen

Lido, General

Staking Ethereum With Lido

<p>Lido is live! You can now stake your ETH with Lido to contribute to the security of the ETH network whilst earning daily rewards for doing so. </p><p>Visit <a href="https://stake.lido.fi">stake.lido.fi</a> to get started. 🏝️</p><h2 id="summary">Summary</h2><ul><li>Stake Ethereum with Lido to earn up to a maximum of 18.10% a year in staking rewards.</li><li>Stake whatever amount you want - there are no minimum Ethereum staking deposits with Lido.</li><li>Receive stETH when staking - a tokenised version of your staked ETH - which value updates daily to reflect your earned staking rewards.</li><li>Stake directly from your Metamask, Ledger or other wallet of preference - no need to trust a centralised entity with your staking. </li><li>When you stake with Lido you stake across a set of proven validators with a track-record of excellence in the field of staking to minimise slashing and hostage risks. </li></ul><h2 id="what-is-lido">What is Lido</h2><p>Lido is a liquid staking solution for ETH 2.0 backed by a number of the industries leading blockchain staking providers. Lido allows users to stake any amount of ETH - without the need to maintain complex infrastructure - whilst preserving the liquidity of their ETH through the stETH token. This lets users stake their ETH whilst participating in on-chain activities of their choice, e.g. lending and yield farming.</p><p>When you stake with Lido you receive stETH tokens on a 1:1 basis representing your staked ETH. This stETH balances can be used like regular ETH to earn yields and lending rewards, and are updated on a daily basis to reflect your ETH staking rewards. <br><br>The goal with Lido is to solve a number of the problems associated with ETH 2.0 staking - illiquidity, immovability and accessibility - making staked ETH liquid and allowing for network participation with any amount of ETH.</p><h2 id="how-to-stake-ethereum-with-lido">How to stake Ethereum with Lido</h2><p><strong>1.</strong> Visit <a href="https://stake.lido.fi">stake.lido.fi</a> and press 'Connect Wallet'.</p><p><strong>2.</strong> When shown wallet options, choose preferred option. With your wallet connected you should be able to view your ETH balance within the Lido widget.</p><p><strong>3. </strong>Enter the amount of ETH you want to stake. When ready, press Stake. Note that you will be able to view your Transaction Fee, stETH Balance and Annual Percentage Rate prior to confirming.</p><p><strong>4. </strong>Confirm the transaction in your wallet.</p><p><strong>5. </strong>Your wallet now contains the amount of ETH you staked - in stETH - visible in your wallet. Your stETH balance is updated daily to reflect staking rewards.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://blog.lido.fi/content/images/2020/12/Staking-with-Lido.gif" class="kg-image" alt><figcaption>Staking your ETH using <a href="https://stake.lido.fi">Lido</a></figcaption></figure><h3 id="ethereum-staking-rewards">Ethereum staking rewards</h3><p>The Ethereum staking reward rate is variable and changes based on the total amount of ETH staked. If the total amount of ETH staked is low then the reward rate will be higher, with a maximum annual reward rate of 18.10%. </p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://blog.lido.fi/content/images/2020/12/Screenshot-2020-12-19-at-18.54.39.png" class="kg-image" alt srcset="https://blog.lido.fi/content/images/size/w600/2020/12/Screenshot-2020-12-19-at-18.54.39.png 600w, https://blog.lido.fi/content/images/size/w1000/2020/12/Screenshot-2020-12-19-at-18.54.39.png 1000w, https://blog.lido.fi/content/images/2020/12/Screenshot-2020-12-19-at-18.54.39.png 1288w" sizes="(min-width: 720px) 720px"><figcaption>Ethereum staking rewards</figcaption></figure><p>To track the current Ethereum staking rate, visit <a href="https://www.stakingrewards.com/earn/ethereum-2-0">stakingrewards.com/earn/ethereum-2-0</a>.</p><h3 id="lido-staking-fees">Lido staking fees </h3><p>Lido applies a <strong>10% fee</strong> on staking rewards, split between node operators, the DAO and an insurance fund. Thisa fee can be changed by the DAO pending a successful vote.</p><p>If you have a question, stop by the <a href="https://help.lido.fi/hc/en-us/sections/360004923620-FAQ">Lido Staking FAQ</a>. If you can't find what you're looking for then we encourage you to submit a question. If you're having trouble staking your Ethereum using Lido, please refer to the following guide:</p><ul><li><a href="https://help.lido.fi/hc/en-us/articles/360018508799-Staking-ETH-using-Metamask">Stake Ethereum using Metamask</a></li><li><a href="https://help.lido.fi/hc/en-us/articles/360018480060">Ethereum staking fees</a></li></ul><h2 id="using-your-steth-token">Using your stETH token</h2><p>When you stake ETH with Lido you receive stETH to reflect your staked Ethereum. This stETH token represents your staked ETH, with its value changing daily to reflect earned staking rewards. Once transactions are enabled on Eth2, you can redeem your staked ETH using your stETH. </p><ul><li><strong>Contract address</strong>: <a href="https://etherscan.io/address/0xae7ab96520de3a18e5e111b5eaab095312d7fe84">0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84</a></li><li><strong>Symbol</strong>: stETH</li><li><strong>Decimals</strong>: 18</li></ul><p><strong>If you are having trouble viewing your stETH balance after staking, follow these instructions: <a href="https://help.lido.fi/hc/en-us/articles/360018478320-Adding-stETH-To-Metamask">Adding stETH To Metamask</a>.</strong></p><p>stETH is a liquid token which can be traded, sent, lent and more, allowing you to participate in DeFi activities even after staking. </p><h2 id="what-s-next">What's next?</h2><p>Over the coming weeks we will be seeing the growth of the Lido and stETH ecosystem, with stETH evolving as a building block for other applications and protocols. As more and more applications begin to allow for interaction with stETH, the benefits of liquid Ethereum staking will become more and more obvious. </p><p>In addition to this we aim to see the growth in <a href="https://research.lido.fi/">Lido DAO discussions</a>, with incoming proposals on validator admissions, fee distributions and more. Have a suggestion you'd like discussed? Submit it!f</p><h2 id="the-lido-dao-community">The Lido DAO community</h2><p>Let's connect! If you have any questions, suggestions, concerns or feedback, we'd love to hear from you. </p><ul><li><a href="https://twitter.com/lidofinance">Twitter</a></li><li><a href="https://research.lido.fi/">Lido DAO Forum</a></li><li><a href="https://t.me/lidofinance">Telegram</a> | <a href="https://t.me/lidonews">Announcements</a></li><li><a href="https://discord.com/invite/vgdPfhZ">Discord</a></li><li><a href="https://www.reddit.com/r/LidoFinance/">Reddit</a></li><li><a href="https://github.com/lidofinance">Github</a></li><li><a href="https://lido.fi/static/Lido:Ethereum-Liquid-Staking.pdf">Lido Primer</a></li></ul>

Kasper Rasmussen

ETH 2.0, Architecture, General

The Lido Withdrawal Key Generation Ceremony

<p><br>The <a href="https://lido.fi/">Lido</a> DAOs first set of withdrawal keys were generated during a ceremony that took place between December 13th and 16th, 2020, performed by a group of the industry’s most trusted builders. </p><p> </p> <p>Chorus One, Staking Facilities, Certus One, Argent, Banteg (yearn.finance), Alex Svanevik (Nansen), Anton Bukov (1inch), Michael Egorov (Curve/Nucypher), Rune Christensen (MakerDAO), Will Harborne (DeversiFi) and Mustafa Al-Bassam (LazyLedger) came together over a four-day event to generate threshold signatures for Lido’s withdrawal keys in a secure environment on air-gapped machines.</p><p> </p> <p>Everything went smoothly and participants and the broader Ethereum community are thanked for their efforts and constant support.</p><p> </p> <figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">After a lot of QR code scanning and a couple of sleepless night, the distributed key generation ceremony for <a href="https://twitter.com/lidofinance?ref_src=twsrc%5Etfw">@lidofinance</a> is complete.<br><br>DKG identifier: ae7f71bb34b74eab0cea8c2931d4b0b2<br>PubKey: tnrKcfBLZzA3tUAJt2Dxlh84NuVxQUHIkq/bdewINNzmeE2ccu2K19syjP+P6fE+ <a href="https://t.co/6umMmEUJ9j">pic.twitter.com/6umMmEUJ9j</a></p>— banteg (@bantg) <a href="https://twitter.com/bantg/status/1338914169408655365?ref_src=twsrc%5Etfw">December 15, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><p> </p> <p><strong>DKG identifier</strong>: ae7f71bb34b74eab0cea8c2931d4b0b2</p><p><strong>PubKey</strong>: tnrKcfBLZzA3tUAJt2Dxlh84NuVxQUHIkq/bdewINNzmeE2ccu2K19syjP+P6fE+</p><p> </p> <h3 id="why-was-a-ceremony-necessary">Why was a ceremony necessary?</h3><p><a href="https://ethereum.org/en/eth2/">Ethereum 2.0</a> doesn’t have any contract execution functionality right now, which means you can’t deploy smart contracts or set up a multisig. When you stake your ETH you need to specify an ETH 2.0 key called withdrawal credentials. In order to make liquid staking work, a solution was necessary for who will hold this key and, more importantly, how to transition it to the Lido DAO. </p><p> </p> <p>That is why a distributed custody solution for the beacon chain was developed by Lido and audited by Sigma Prime: <a href="https://github.com/lidofinance/dc4bc">https://github.com/lidofinance/dc4bc</a>.</p><p> </p> <p>All deposits into Lido are delineated by 32 ETH and assigned to node operators who validate using these deposits. Funds are deposited to the Lido protocol smart contract and then are locked into the Ethereum proof-of-stake deposit contract. Initially, withdrawal credentials for deposited ether will be set to Lido’s threshold signature of distributed custody. This threshold signature account controlled by the Lido DAO is specified as a staking withdrawal address. </p><p> </p> <p>In practice, this means that users would need to trust this withdrawal address to return the ETH to which they have a claim. This is not the preferred solution but is a (temporary) reality for all the liquid staking protocols due to ETH 2.0’s staking design, and so it was designed and developed in the way that seemed like the best practical solution at the time.</p><p> </p> <p>The reason Lido’s participants went to the lengths of a several-day distributed custody key generation event was to decrease the amount of trust required. The withdrawal key was split into 11 different parts, each held by a different participant. Instead of one party now having access to these withdrawal keys, it would instead require collusion of many parties from those who participated in the ceremony. Many other liquid staking protocols are instead relying on a single party to hold these keys which is believed to be an inferior solution.</p><p> </p> <figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">Verifying: I have submitted my public keys for participation in the Distributed Key Generation ceremony for <a href="https://twitter.com/lidofinance?ref_src=twsrc%5Etfw">@lidofinance</a> withdrawal credentials: lI+5jYVEif+dmJpWAi0v2eZd0oAQ3yMHQ7/cF1cODbrkr/R0U0K6IgZX9INuhiNu <a href="https://t.co/5rj43I6Wjs">https://t.co/5rj43I6Wjs</a></p>— Mustafa Al-Bassam (@musalbas) <a href="https://twitter.com/musalbas/status/1338116087536291841?ref_src=twsrc%5Etfw">December 13, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><p> </p> <p>The preferred solution would require eth1 withdrawal addresses to be accepted by the Ethereum community. If/when this happens, the withdrawal credentials will instead be set to an upgradeable smart contract that will handle withdrawals when they are enabled -- an entirely non-custodial liquid staking solution. This should happen in the near future and the feasibility to migrate to this kind of solution as soon as it's practical will be evaluated from time to time.</p><p> </p> <h3 id="why-lido-s-distributed-custody-is-a-better-approach">Why Lido’s distributed custody is a better approach</h3><p> </p> <p>Distributing custody based on threshold signatures by some of the most respected and reputable people in DeFi seems like a much better solution for Lido to adopt at this time than having the withdrawal credentials owned by one single holder. </p><p> </p> <p>When it becomes technically feasible to transition to a fully non-custodial solution, the only purpose of this distributed custody will be to rotate withdrawal credentials to an autonomous withdrawal smart contract.</p><p> </p> <h3 id="here-s-what-is-targeted-in-the-future">Here's what is targeted in the future</h3><p> </p> <p>In the near future, when ETH 1 withdrawal credentials are available on ETH 2, Lido should move away from distributed custody to a fully non-custodial solution. Read more: <a href="https://ethresear.ch/t/simple-eth1-withdrawals-beacon-chain-centric/8256.">https://ethresear.ch/t/simple-eth1-withdrawals-beacon-chain-centric/8256.</a></p><p> </p> <p>The Ethereum community seems to recognise and agree that a fully centralised solution isn't the best choice to depend on for the security of the largest smart contract platform, and trusts Lido DAO and Lido to always provide the best feasible solution for the Ethereum liquid staking. Any feedback or questions on this is welcome.</p><p> </p> <h3 id="stake-with-lido">Stake with Lido</h3><p>Lido has launched. Stake with Lido now: <a href="https://stake.lido.fi/">stake.lido.fi</a>.</p>

Kasper Rasmussen

Lido

Stake With Lido Using Metamask [Testnet]

<p>Lido is a liquid Ethereum staking protocol letting you stake ETH without withdrawal lockups and minimum deposits, making it possible to earn rewards without the constraints of self-staking. </p><p> </p> <p>Lido stakes across a DAO-picked set of node operators with a proven track record of excellence to guarantee highest performance and minimise <a href="https://blog.lido.fi/how-lidos-validator-choices-help-you-avoid-hostage-eth/">slashing/hostage potential</a>.</p><p> </p> <p>When staking with Lido, users send ETH to the smart contract using the Lido widget and receive stETH in return. stETH represents a tokenised version of you staking deposit, and is updated daily to reflect earned staking rewards and potential slashing penalties. Lido makes the stETH token balance track a balance of corresponding balance of beacon chain ether. A user’s balance of stETH tokens corresponds 1:1 to the amount of ether a user could receive if withdrawals were enabled. </p><p> </p> <p>stETH can be held, traded, transferred and sold, or used to interact with other DeFi applications (e.g. as collateral for lending). Like this, Lido users can earn an additional yield on their staked ETH. </p><p> </p> <hr><p> </p> <p>The following is a guide to <a href="https://goerli.lido.fi/stake">testnet staking using Lido</a>. Please note that this is the testnet release only - all transactions are conducted on the Goerli Test Network and no real ETH should be sent to any Lido contracts yet. </p><p> </p> <p><strong>Lido testnet staking URL:</strong> <a href="https://goerli.lido.fi/stake">goerli.lido.fi/stake</a></p><p> </p> <figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://blog.lido.fi/content/images/2020/11/Screenshot-2020-11-27-at-16.44.28.png" class="kg-image" alt srcset="https://blog.lido.fi/content/images/size/w600/2020/11/Screenshot-2020-11-27-at-16.44.28.png 600w, https://blog.lido.fi/content/images/size/w1000/2020/11/Screenshot-2020-11-27-at-16.44.28.png 1000w, https://blog.lido.fi/content/images/size/w1600/2020/11/Screenshot-2020-11-27-at-16.44.28.png 1600w, https://blog.lido.fi/content/images/size/w2400/2020/11/Screenshot-2020-11-27-at-16.44.28.png 2400w" sizes="(min-width: 720px) 720px"><figcaption>The Lido <a href="https://goerli.lido.fi/stake">testnet staking widget</a></figcaption></figure><p> </p> <h3 id="widget-walkthrough-metamask">Widget Walkthrough - Metamask</h3><p>Before starting, make sure that your Metamask is running on the Goerli Test Network. This is done by accessing your Metamask wallet and changing the network from Ethereum Mainnet to Goerli Test Network.</p><p> </p> <figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/sXL_qareNnx6NiewG_hxXJjxN8ColoekPNeDLLJYnDUAEK84ne-dwW4ASdfpUHI3_pVekYFDdS3bsTVeX6rcFDw_PcykFSyuaqF0n96UDTiodX9eOY6bWKTR_v-K8VlGgZgHAyaG" class="kg-image" alt></figure><p> </p> <p><strong>1.</strong> When ready, visit <a href="https://goerli.lido.fi/stake">goerli.lido.fi/stake</a> and press Connect Wallet. When shown wallet options, choose Metamask and, if prompted, input your Metamask password.</p><p> </p> <p><strong>2.</strong> To start staking, you will need Goerli ETH. To request Goerli tokens, visit <a href="https://goerli-faucet.slock.it/">goerli-faucet.slock.it</a>, input your Metamask address and press Request 0.05 GÖETH. They should be visible in your Metamask wallet shortly after. </p><p> </p> <p><strong>3. </strong>Now you are ready to start staking. With your Metamask wallet connected, you should be able to view your Goerli ETH balance within the Lido widget. </p><p> </p> <figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/wviTqjp3o9LGFsRU9P-kjfklVSYVI3Qa7QWW-KwMNYACec0dLdZQ9B3YZs4_URQBYo7U8ujhYTXa7MpuqLvtvdrteF4qoDYWRfJqwFwof0yz3mfmslz6G2ZbcLcMPJWu7nafiywJ" class="kg-image" alt></figure><p> </p> <p><strong>4. </strong>Input the amount you want to stake (0.05 ETH in this case). Note that you will be able to view your <em>Transaction Fee</em>, <em>stETH Balance </em>and <em>Annual Percentage Rate </em>prior to confirming. When ready, press <strong>Stake</strong>. <strong>Note</strong>: If you are a Goerli whale, you might want to stake more. Please don’t put more than a small amount of ETH into Lido on this testnet. We’re using Pyrmont beacon chain testnet for this run, which is supposed to have a small amount of deposits.</p><p> </p> <p><strong>5. Confirm</strong> the transaction in your Metamask wallet as pictured below. </p><p> </p> <figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/Qc5UBrkjOIHykWz519z3NojMZcdlce3MUkxIE9QiNRDfCo3ohx21C_7CSLb1NeGEsD3_EOrTeYkvkfOWYBQdGN4zYyDfL-trSC2ijepyrALwDyLnqLIbMhYqYww7wbkdHoLgWbih" class="kg-image" alt></figure><p> </p> <p><strong>6. </strong>The Lido interface should now reflect your updated <em>Wallet Balance</em> and <em>Staked Amount </em>(in terms of stETH). Your Metamask wallet should now contain 0.05 stETH - or the amount which you staked - visible in your wallet. </p><p> </p> <p><strong>7.</strong> If you are having trouble viewing your Metamask stETH balance, you may need to add the token to your Metamask. To do so, access Metamask and press<strong> Add Token</strong>. Switch to <strong>Custom Token</strong> and input the values below and press <strong>Add Token</strong> to confirm.</p><ul><li><strong>Contract address</strong>: 0xA0cA1c13721BAB3371E0609FFBdB6A6B8e155CC0</li><li><strong>Symbol</strong>: stETH</li><li><strong>Decimals</strong>: 18</li></ul><p> </p> <p><strong>8. </strong>You should now be able to view your stETH balance within your Metamask wallet. </p><p> </p> <p>That’s it. We hope you found the process intuitive and we would love to hear from you if not. Please get in touch with us on <a href="https://discord.com/invite/vgdPfhZ">Discord</a> if you have any questions, suggestions or concerns. </p><p> </p> <p>To learn more about our testnet progress, please refer to the following resources:</p><ul><li><a href="https://click.mlsend.com/link/c/YT0xNTYzMDI4MDM0MjI1NzA2NTUxJmM9bTV1OCZlPTI0OTkzNzUzJmI9NDYzODU5MzU0JmQ9ejBjN2E4eA==.CcKKD93LzzdMkvXwRbFoV7rtoGld0OnHqeDCSGjrJmM">Lido: Ethereum Liquid Staking - A Primer</a></li><li><a href="https://click.mlsend.com/link/c/YT0xNTYzMDI4MDM0MjI1NzA2NTUxJmM9bTV1OCZlPTI0OTkzNzUzJmI9NDYzODU5MzU3JmQ9dzZhMWI0eA==.cVqh4U7ZNShVfo2Xmrf3Gp9o5YKKAcDjFQ7gQhaeAnE">Lido Github Repo</a></li><li><a href="https://click.mlsend.com/link/c/YT0xNTYzMDI4MDM0MjI1NzA2NTUxJmM9bTV1OCZlPTI0OTkzNzUzJmI9NDYzODU5MzYwJmQ9dDRoNnQ4Zw==.uBG8aGGA1LlEWtf5H62pg77bXnvUK_eMSL8mVDLFJPE">Developer Chat Support</a></li><li><a href="https://click.mlsend.com/link/c/YT0xNTYzMDI4MDM0MjI1NzA2NTUxJmM9bTV1OCZlPTI0OTkzNzUzJmI9NDYzODU5MzY2JmQ9bTR1MG0zeQ==.-fv7SMV0ZhsVq-Fo7B8hhkxOUSQxeFiXc4BQWxtdQhA">Lido DAO Member Manual</a></li><li><a href="https://docs.google.com/forms/d/e/1FAIpQLSdylhISQU-vnrVJECEeSSb5PD39ciLKixxcj7HKivRyUPOmCQ/viewform">Testnet Feedback Form [Beginners]</a></li></ul><p> </p> <p>If you haven’t already, join the Lido community below as we approach our mainnet launch. 🏝️</p><ul><li><a href="https://twitter.com/lidofinance">Twitter</a></li><li><a href="https://discord.com/invite/vgdPfhZ">Discord</a></li><li><a href="https://t.me/lidofinance">Telegram</a></li></ul><p> </p>

Kasper Rasmussen

General

Lido Testnet Launch

<p>Lido is a liquid Ethereum staking solution letting you earn staking rewards with no lock-ups or minimum deposits whilst contributing to the security of the Ethereum 2.0 chain.</p><p>We're thrilled to announce the launch of the Lido protocol testnet, which allows users to stake and convert testnet ETH to staked ETH(stETH). With this also comes the test launch of the Lido DAO governance tools for the Ethereum staking service. </p><p> </p> <h2 id="testnet-objectives"><strong>Testnet Objectives</strong></h2><p>The testnet launch sees the deployment of contracts - on Goerli testnet - to test Lido in dynamic conditions and gain operational experience for participants. An added bonus is that the testnet will demonstrate the simplicity of staking Ethereum with Lido.</p><p>Objectives with respect to Lido over the coming weeks are to:</p><ul><li>Perform distributed key generation ceremony for withdrawal credentials, which will hold all Lido's staked ether;</li><li>Deploy the Lido DAO, distribute governance tokens, and set up all necessary parameters via DAO members voting procedures;</li><li>Assign and launch oracles, which are responsible for reporting cumulative Lido balances on the Ethereum 2.0 beacon chain to the smart contract;</li><li>Assign node operators to whom staking on the Ethereum 2.0 beacon chain will be delegated; and</li><li>Start accepting ether deposits in Goerli and check Lido’s operations.</li></ul><p>In addition to showcasing what has been developed, this testnet launch is an opportunity for Ethereum validators to demonstrate their expertise. Lido stakes through a set of proven validators and, in order to guarantee performance, the validators are best-in-industry.</p><p> </p> <h2 id="testnet-roadmap"><strong>Testnet Roadmap</strong></h2><p>The roadmap for the coming week is as follows:</p><h3 id="wednesday-nov-25"><strong>Wednesday | Nov 25</strong></h3><ul><li>The first Lido signature generation ceremony is conducted.</li><li>The final testnet version of the protocol is deployed.</li><li>The <a href="https://docs.google.com/document/d/1S0cLkS8r3YihZ3vTBsHYFqyIkOT-y-SKhxRIFAsb87E/edit?usp=sharing">DAO Token Holder Manual</a> is published.</li><li>DAO holders vote for initial protocol parameters and for the inclusion of Node Operators and Oracles.</li></ul><p> </p> <p>At this point, the protocol is ready to accept user funds. There will be a quick run for working validators to earn revenue as early as possible, given the clog in Pyrmont validator entry queue.</p><p> </p> <ul><li>A Node Operator with 10 signing keys will be added and accepted by the DAO with the testnets orchestrators (combined, testnet orchestrators votes will reach the quorum to ensure the test run will run to completion).</li><li>The testnet orchestrators will perform DAO voting for setting the withdrawal credentials chosen during the ceremony.</li><li>Testnet orchestrators will submit 320 ETH and use the protocol to deposit them using the keys submitted in the first step.</li><li>One node operator is needed to assist with running that first validator node — please let us know if you’re willing to help.</li></ul><h3 id="thursday-nov-26"><strong>Thursday | Nov 26</strong></h3><ul><li>The second, text-based, signature generation ceremony is started. This ceremony will last until Tuesday, Dec 1. It won’t be used in the testnet, just generated.</li><li>Node Operator and Oracle manuals are published.</li><li>Oracle Committee Members deploy oracle daemons (at least 5 Oracle Committee Members).</li><li>Node Operators generate and submit signing keys (100 keys each, at least 6 operators).</li><li>Node Operators deploy validator clients for the submitted keys.</li></ul><h3 id="friday-nov-27"><strong>Friday | Nov 27</strong></h3><ul><li>DAO token holders vote for accepting the signing keys submitted by Node Operators.</li><li>DAO token holders initiate depositing the received and buffered user funds to the Beacon chain.</li></ul><h3 id="saturday-nov-28"><strong>Saturday | Nov 28</strong></h3><ul><li>Monitoring the system working as intended and performing more deposits.</li></ul><h3 id="monday-nov-30"><strong>Monday | Nov 30</strong></h3><ul><li>Testing integration with Uniswap v1.</li></ul><p> </p> <h2 id="testnet-resources"><strong>Testnet Resources</strong></h2><p>If you are interested in Lido’s progress or to try out testnet staking with Lido, please refer to the following resources:</p><ul><li><a href="https://lido.fi/static/Lido:Ethereum-Liquid-Staking.pdf">Lido: Ethereum Liquid Staking - A Primer</a></li><li><a href="https://github.com/lidofinance">Lido Github Repo</a></li><li><a href="https://discord.com/channels/761182643269795850/774313727603638292">Developer Chat Support</a></li><li><a href="https://docs.google.com/document/d/1S0cLkS8r3YihZ3vTBsHYFqyIkOT-y-SKhxRIFAsb87E/edit?usp=sharing">Lido DAO Member Manual</a></li></ul><p> </p> <figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet" data-width="550"><p lang="en" dir="ltr">Established operators including <a href="https://twitter.com/CertusOne?ref_src=twsrc%5Etfw">@CertusOne</a>, <a href="https://twitter.com/ChorusOne?ref_src=twsrc%5Etfw">@ChorusOne</a>, <a href="https://twitter.com/P2Pvalidator?ref_src=twsrc%5Etfw">@P2PValidator</a>, <a href="https://twitter.com/stakefish?ref_src=twsrc%5Etfw">@stakefish</a> & <a href="https://twitter.com/StakingFac?ref_src=twsrc%5Etfw">@StakingFac</a> will join Lido as validators to launch liquid staking on Ethereum. <a href="https://t.co/JOpq7egKrT">https://t.co/JOpq7egKrT</a></p>— Lido (@lidofinance) <a href="https://twitter.com/lidofinance/status/1329151140718632961?ref_src=twsrc%5Etfw">November 18, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> </figure><p>If you are an experienced validator interested in contributing to Lido, please get in touch. To register your interest in staking with Lido,<a href="https://lido.fi/stake"> let us know</a>.</p>

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