Lido was founded in the early 2020s and currently has 300,000+ members. Lido is focused on liquid staking which we explain to you further at the bottom of this article. Below you can find the coins you can stake at Lido. In the beginning these were more coins than now. Solana was still listed until recently, but Lido is currently discontinuing Solana so we no longer list it in this overview.
How staking work on Lido.
As you could already read, Lido works with liquid staking. This means that when you strike coins at Lido you receive st-tokens in return. The value of these tokens is 1 to 1 with the value of the discontinued token. If you strike 2 ETH at Lido, you will receive interest on this + get 2stETH back instead. These st-tokens you get back you can then use in the DeFi ecosystem and stake back. So you have double profit. Because of this, Lido is hugely popular with its followers. Reportedly, Lido has ⅓ of all staked ETH with them.