Last Updated on May 21, 2023 by Bitfinsider
Members of the community are trying to introduce a staking feature to LDO, as hinted to in a new proposal.
Remember that users require 32 ETH, or approximately $60,000 at today’s pricing, to stake straight to the mainnet. Due to the high barrier to entry, liquid staking services like as Lido have developed, allowing users to deposit any amount of ETH and start earning right away.
Many people in the space will be watching this proposition grow with bated breath. After all, Lido is the largest DeFi project, with a TVL of approximately $12 billion.
The plan is currently very early in its development:
Holders of LDO tokens would be able to stake them and begin reaping rewards from the protocol’s earnings. Lido presently makes money by charging users a 10% fee on incentives. Half of that goes to the project’s DAO, while the other half goes to the different node operators that carry out the actual mainnet staking.
Stakeholders would gain between 20% and 50% of the Lido DAO’s revenue if this new plan is approved. In other words, up to half of the 5% service cost. And this would be accomplished through buybacks, in which earned revenue would be utilized to purchase (and distribute) additional LDO tokens.
On ProEX, you can trade LDO as a spot pair (LDO/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade LDO/USDT at ProEX Spot
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