Lido
Live preview — APY is indicative; check the live rate in the official Lido app.
Stake ETH for stETHWrap and withdrawals tabsDAO-governed protocol
What is Lido?
Lido is a liquid staking protocol for Ethereum that lets users stake ETH and receive stETH, a transferable token designed for DeFi use. Binance Academy's liquid staking explainer describes the broader model: staking assets while receiving liquid staking tokens that can be used elsewhere on-chain.
Lido at a glance
The overview below separates protocol facts from market data: CoinGecko's LDO market page tracks the governance token, while DefiLlama's Lido protocol dashboard follows protocol-level DeFi metrics.
CategoryLiquid staking
NetworkEthereum
TokenLDO
Receipt tokenstETH / wstETH
Launched2020
CustodyNon-custodial pooled staking
Lido APR & staking rewards
Lido APR is the estimated net annual rate for ETH staked through Lido after the protocol fee is applied. Ethereum.org's staking overview explains that validator rewards come from proof-of-stake participation and network activity, so the rate moves with Ethereum validator rewards, priority fees, MEV, validator performance, and total ETH staked on the network. Lido says its user APR equals protocol APR multiplied by one minus the protocol fee; the current protocol fee is 10% of staking rewards and is split between node operators and the DAO treasury. Rewards accrue through stETH rebases, normally reflected daily after oracle reporting. For most ETH staking pages, a realistic ballpark is about 3-4% APR, but users should read the live rate before staking.
Lido withdrawals and unstETH queue
Lido withdrawals redeem stETH or wstETH for ETH through a protocol withdrawal request rather than an instant validator exit. When a user requests withdrawal, the position is represented by an unstETH NFT until the request is finalized and claimable; Lido's WithdrawalQueueERC721 contract documentation covers that queue structure. Timing depends on Lido protocol liquidity, Ethereum validator exit conditions, and the size of the request queue. Small requests can be faster when buffer liquidity is available, while larger or congested periods can require validator exits. The important search distinction is that selling stETH on a DEX is market-based liquidity, while a Lido withdrawal is a protocol redemption flow that burns the staked token and returns ETH after finalization.
Lido fees and LDO token utility
Lido charges a fee on staking rewards, not on the original ETH principal. The current Lido on Ethereum fee is 10% of staking rewards, with the proceeds allocated between node operators and the DAO treasury. CoinMarketCap's Lido DAO token page is a separate market reference for LDO, the governance token used for Lido DAO voting and protocol decisions; it is not the staking receipt token. The staking receipt is stETH, or wstETH for wrapped integrations. This separation matters for searchers comparing Lido token exposure: LDO is governance and market exposure to the DAO, while stETH and wstETH are ETH staking derivative tokens tied to redeemable staked ETH.
Fees, custody, and security checks
FeesReview the live staking rate and fee treatment before depositing; Investopedia's Ethereum staking risk guide notes that staking involves variable rewards and penalties. On-chain actions are irreversible, and this is not financial advice.
CustodyLido is described as non-custodial pooled staking, but users still rely on smart contracts and protocol rules; the EIP-20 token standard is useful context for fungible receipt tokens. On-chain actions are irreversible, and this is not financial advice.
SecurityBridge and Layer 2 use can add separate trust assumptions; L2Beat's Arbitrum risk analysis shows how chain-specific risks are documented. On-chain actions are irreversible, and this is not financial advice.
How to stake Lido
- Open the appGo to the official stake.lido.fi interface and connect a supported Ethereum wallet.
- Enter ETHChoose the amount to stake and review the expected stETH, gas, and transaction details.
- Confirm stakingSign the Ethereum transaction to stake ETH and receive stETH in your wallet; the stETH token tracker is a public explorer reference for the receipt token.
- Manage positionUse the app tabs to wrap stETH, view rewards, or start a withdrawal when needed.
Ready to stake?
Open the official Lido app and verify the domain before you sign.
Lido vs other liquid staking
Comparisons should include liquidity, withdrawal path, validator assumptions, and secondary-market risk; the arXiv paper Leverage Staking with Liquid Staking Derivatives discusses how stETH liquidity and DeFi composability can also introduce market-risk feedback loops.
| Dimension | Lido | Alternative |
|---|---|---|
| Receipt token | stETH and wstETH | rETH, cbETH, sfrxETH, or exchange receipt |
| Reward accounting | stETH rebases; wstETH accrues in price | Varies by token design |
| Validator model | DAO-selected operator set and modules | Permissionless, centralized, or protocol-specific |
| DeFi liquidity | Deep Ethereum integrations | Depends on token and market |
| Governance token | LDO | Protocol-specific or none |
Lido FAQ
What token do you receive when staking ETH with Lido?
When staking ETH with Lido, users receive stETH, a liquid staking token that represents ETH deposited into the protocol plus accrued staking rewards and minus penalties if they occur. Binance Academy's liquid staking token overview describes how liquid staking tokens can represent staked assets for on-chain use. stETH is the main staking receipt, while LDO is the governance token.
Does Lido stETH automatically compound?
Lido stETH rewards are reflected through rebases, while Ethereum.org's staking overview explains that validator rewards vary with proof-of-stake network activity and validator performance. A holder does not need to manually claim staking rewards. The balance change depends on oracle reports, validator performance, and network rewards, so the visible effect is usually a daily balance update rather than a separate reward transfer.
Why do some DeFi apps use wstETH instead of stETH?
Many DeFi apps prefer wstETH because it has a static token balance. The arXiv paper Money in Motion discusses wstETH as the non-rebasing form of Lido's stETH used across DeFi composability contexts. wstETH keeps the holder's balance fixed while the token's conversion rate into stETH changes over time, and it can be unwrapped through the Lido wrapper.
Can Lido stETH be redeemed for ETH?
Yes. stETH can be redeemed through the Lido withdrawal process, where the user creates a withdrawal request and receives an unstETH NFT representing that request until it becomes claimable. Investopedia's Ethereum unstaking discussion notes that withdrawals depend on network limits, and Lido timing is not a fixed instant swap because it depends on protocol liquidity, validator exits, and request size.
Is LDO the same as stETH?
No. LDO and stETH serve different purposes. CoinMarketCap's LDO listing is a market page for the governance token, while stETH is the liquid staking receipt token issued to ETH stakers and represents a claim on staked ETH plus rewards, subject to protocol mechanics. Someone buying LDO is not staking ETH; someone holding stETH or wstETH has exposure to Lido-staked ETH.
What is the Lido staking fee?
For Lido on Ethereum, the protocol fee is currently 10% of staking rewards. Lido documentation says this fee is taken from rewards rather than the original ETH principal and is split between node operators and the DAO treasury. Because fee settings can change through DAO governance, users comparing staking providers should check the current documentation and app rate before depositing ETH.