It is halal.
What is Lido DAO?
Lido DAO is a decentralized autonomous organization (DAO) that governs the Lido protocol, a leading solution for liquid staking on various blockchains. Lido allows users to stake their assets and receive liquid tokens representing their staked position along with staking rewards.
Key Features of Lido DAO
- Liquid Staking: Lido enables users to stake assets without locking them up, allowing them to participate in DeFi activities with their staked tokens (represented by stTokens).
- Multiple Blockchains: Lido currently supports staking for Ethereum (stETH), Solana (stSOL), and other blockchains are planned for integration.
- Decentralized Governance: LDO token holders govern the Lido protocol through voting on proposals related to fees, supported assets, and other crucial aspects.
Uses of LDO Token
- Governance: LDO holders can participate in voting on proposals to shape the future of the Lido DAO and protocol.
- Staking Rewards: Some exchanges allow staking LDO to earn rewards.