Lido DAO

LDO is the governance token of Lido, the largest liquid staking protocol for Ethereum.

Lido lets people stake ETH without running a validator or locking their coins. Users deposit ETH, professional and community node operators run validators with it, and users receive stETH, a token that grows with staking rewards and can be moved or used elsewhere. On 1 October 2026 Lido held about $26.65 billion in deposits.

LDO is the token that governs the Lido DAO. Holders vote on which node operators are used, on protocol settings and on the treasury. LDO itself pays no staking rewards. The supply is fixed at 1 billion LDO, of which about 829.6 million were circulating on 1 October 2026.

Lido charges 10% of the staking rewards it earns and splits this between node operators and the DAO treasury. In November 2025 a proposal was made to use part of the treasury's income to repurchase LDO when revenue and the ETH price are high enough.

On 1 October 2026 MetaMask began exiting about 17,000 validators it runs for Lido after a security incident in its own systems; Lido said stETH holders did not need to act.