Liquid staking protocol Lido announced the launch of Lido Institutional, a liquid staking solution designed for institutional use. This new offering integrates the reliability and security essential for enterprise-grade staking with the liquidity and versatility needed for various institutional strategies. The introduction highlights Lido’s commitment to delivering a high-quality staking solution that meets the rigorous standards of custodians, asset managers, exchanges, and other institutions.
According to the announcement on the social media platform X, the Lido protocol is at present trusted by a number of prominent institutional partners and is recognized as a leading option for institutions interested in Ethereum staking.
Its current total value locked (TVL) exceeds $30 billion, and it offers an annual percentage rate (APR) of 2.9%. The middleware solution supports over 100 decentralized finance (DeFi) integrations and has over 300,000 active wallet addresses. It currently holds $150 million in liquidity within a 2% depth, and more than $10 billion is used as collateral, as per its webpage.
Furthermore, the Lido middleware represents an open-source software and is not required to perform Know Your Customer (KYC) or anti-money laundering (AML) assessments. The technical design of this liquid staking solution is fully non-custodial at the node operator level and is self-managed by users.
Introducing Lido Institutional.https://t.co/Ucs9oIL0i0 pic.twitter.com/TlCA9hRJQS
— Lido (@LidoFinance) August 2, 2024
Lido: Liquid Staking Platform For Ethereum And Polygon
Lido functions as a liquid staking platform for Ethereum and Polygon. It provides derivative token contracts for liquid staking and additional smart contract infrastructure to support native token staking services. Through its smart contracts, users can stake ETH on Ethereum and ERC-20 MATIC tokens on Polygon, receiving liquid staking derivative tokens in return.
These staked tokens are then used by the protocol to operate validators on the respective networks, thereby supporting the Proof-of-Stake (PoS) consensus mechanism. Its stETH represents a prominent Ethereum liquid staking token (LST) known for its strong security, deep liquidity, and attractive rewards.
Since its launch in 2020, the project has operated without major security incidents and currently facilitates approximately 30% of all ETH staking.
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