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Lido

    Lido

    Lido is a multi-chain liquid staking solution for Ethereum, Solana, Polkadot, Polygon & Kusama

    founded

    2020

    treasury

    $359.8M

    market

    $7.28b

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    mission & goals

    • To allow users to earn staking rewards without fully locking their capital;
    • To offer flexibility to users to earn rewards on deposits smaller than 32 ether, and without restriction on deposits different than a multiple of 32 ether;
    • To reduce the risks of losing a staked deposit due to software failures or malicious third-parties;
    • To provide the stETH token as a building block for other applications and protocols (e.g., as collateral in lending or other trading DeFi solutions);
    • To provide an alternative to exchange staking, self-staking, and other semi-custodial and decentralized protocols.

    Lido is designed as a simple-to-use protocol with community governance. The protocol has to follow the changes in the underlying blockchain mechanisms.

    Lido solves the possible Ethereum Merge issues. The service provides delegation of ETH to reliable validators

    current challenges

    • stay leading liquid staking solution and become even stronger
    • provide a simple and secure way to earn interest on a range of digital assets
    • develop the Lido DAO, optimize DAO governance system, engage and build up the community
    • evolve the Lido ecosystem

    history

    The project was founded by Konstantin Lomashuk and Vasily Shapovalov. Initially, Lido's functionality was tested in the Goerli test network. The staking service went live on December 19, 2020. At launch, the project issued LDO control tokens, which are used for voting.

    In December 2020, the project raised $2 million from Semantic Ventures, ParaFi Capital, Stakefish, Staking Facilities, as well as MakerDAO creator Rune Christensen, Aave founder Stani Kulechov, and Synthetix founder Kane Warwick.

    Afterwards, the Paradigm fund invested 15,120 ETH in Lido, receiving 70 million LDOs. The investment was approved by a vote of the DAO. In March 2022, the service raised $70 million from Andreessen Horowitz.

    The first crypto-asset available for liquid staking through Lido was ETH.

    core team

    Konstantin Lomashuk - co-founder

    Vasiliy Shapovalov - co-founder

    Lido DAO members include Semantic VC, ParaFi Capital, Libertus Capital, Terra, Bitscale Capital, StakeFish, StakingFacilities, Chorus, P2P Capital and KR1. Lido is also joined by a number of key angel investors, including Stani Kulechov of Aave, Banteg of Yearn, Will Harborne of Deversifi, Julien Bouteloup of Stake Capital and Kain Warwick of Synthetix.

    benefits

    • An international team of skilled experts
    • Flexible working
    • Competitive salary & bonus paid and excellent international career opportunities
    • Well-being & Mental Health support program
    • Full tech/equipment set-up, which is relevant to executing tasks
    • A high degree of autonomy, no micromanagement
    • Ownership culture
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