LDO coin originated in the UK and is the governance token used by the LidoFinance platform to manage liquidity staking. Holders can participate in governance, earn additional staking rewards, and enjoy transaction fee discounts through LDO coins.
LDO coin country of origin
LDO coin originated from UK.
Background
Lido Finance was founded in 2020 and is headquartered in Zug, Switzerland. The project started as a liquidity staking solution for Ethereum 2.0 (now renamed Ethereum). LDO coin is the governance token of the Lido Finance platform.
How Lido Finance works
Lido Finance allows users to stake ETH tokens into its liquidity staking pool to earn staking rewards. Unlike traditional staking, liquidity staking allows users to stake their ETH while continuing to use their derivative token (stETH).
The role of LDO currency
LDO currency plays the following roles in the Lido Finance platform:
- Governance: LDO holders can vote on changes and proposals to the platform.
- Staking Rewards: LDO holders can stake their tokens to earn additional staking rewards.
- Handling fee discount: LDO holders enjoy handling fee discounts when trading on the platform.
Conclusion
LDO coin is a governance token originated in the UK and is used to manage Lido Finance’s liquidity staking platform. Holders can participate in governance through LDO coins, earn additional staking rewards, and enjoy handling fee discounts.
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