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## Notes on Lido Finance
<br>
* Lido finance is a liquid staking protocol that offers its services to Ethereum, Terra, Solana, Kusama, and Polygon.
* It's governed by the Lido DAO through the LDO governance token.
* Lido's first product was liquid staking for ETH 2.0 deposits on the beacon chain. It allowed users access to ETH 2.0 staking without the 32 ETH deposit requirement and gave them a composable tokenized representation of their staking deposit, stETH.
* Lido uses a single token model, stETH that represents users' staking deposits. stETH is minted at 1:1 ratio of ether deposited into the Lido platform.
* Staking rewards accrue to the stETH token through a daily rebasing mechanism.
* 10% fee on accrued staking rewards that is evenly split between the Lido DAO and node operators.
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<img width="507" alt="Screen Shot 2022-04-20 at 4 18 11 PM" src="https://user-images.githubusercontent.com/1130416/164340131-8415e886-5a7d-4705-ab4d-210677cba6db.png">
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