About the Project
Lido is a DAO that develops and maintains decentralized liquid staking protocols. Lido currently holds #8 of all DeFi by TVL ($5B) or 86% market domination on Ethereum which makes it a leader in liquid staking space.
About the Integration
Governed by the Lido DAO, Lido has emerged as the largest and most utilized liquid staking protocol in the world. With roots in Ethereum staking, Lido is expanding to provide liquid staking to other protocols such as Terra and Solana. For their expansion to Polkadot, Lido selected Moonbeam to provide the underlying parachain infrastructure and cross-chain integrations because of its Ethereum-compatible smart contract functionality that allows Lido to use familiar Ethereum tools and existing code to get to market quickly.
This integration introduces liquid staking to Moonriver and Moonbeam, and will provide DOT holders the ability to stake their assets while at the same time accessing the liquidity of that staked position. The deployment of Lido provides a critical building block for the growing DeFi ecosystem on Moonbeam, providing a way for token holders to make productive use of their Polkadot ecosystem assets.