Lido Staking Review and Rewards

Click here to explore ETH Staking with Lido! (Official Lido Referral Link)

Lido Staking Review

Lido is a liquid staking solution for ETH 2.0 backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – whilst participating in on-chain activities, e.g. lending.

When staking with Lido, users receive staked ETH (stETH) in return. StETH represents the value of your initial staking deposit plus daily staking rewards, increasing in balance daily as rewards come in. These stETH balances can be used like regular ETH to earn yields and lending rewards.

There is no lockup period when staking with Lido, which is one of the main advantages. This is unlike many other staking services, be it on Coinbase, Kraken or staking 32 ETH as a validator. For those staking services, your ETH will be locked up until ETH 2.0 launches, which may be in a few years’ time.

We can see that the current APR is 5.4%. Lido’s stETH market cap is very high, at more than $2 billion.

Lido Staking Rewards

At the point of writing this (August 2021), the Lido Staking Reward is 5.4% APR. This is very competitive considering Coinbase’s APR is only 5%. Do note that as more people stake Ether, the APR may decrease (this is controlled on Ethereum’s side, it is not controlled by Lido).

Lido Staking rewards are paid in stETH, which represents the value of your initial staking deposit plus staking rewards. Do note that stETH can be further deposited into DeFi protocols like Curve Finance for further yield. Currently, the Curve Finance pool gives a whopping ~12% APY paid in a mixture of tokens like (ETH, stETH, CRV and LDO).

The stETH pool on Curve Finance gives up to ~12% additional rewards!

Lido Staking Reddit

You may want to check out the Lido Staking Reddit (https://www.reddit.com/r/LidoFinance/) to see what other users say about Lido Staking!

Lido Staking Ledger

Many Crypto Hodlers hold their ETH in a hardware wallet like Ledger. The way to stake ETH on Lido using Ledger, is to first connect Lido to a software wallet like MetaMask. Then, connect the MetaMask wallet to Lido in order to perform staking.

Ledger Nano X – The Best Crypto Hardware Wallet – Bluetooth – Secure and Manage Your Bitcoin, Ethereum, ERC20 and Many Other Coins

Is Lido Staking safe?

With Cryptocurrency, there is always some risk, but here are 2 reasons why Lido Staking is considered safe:

  1. Lido has undergone multiple audits. You can see the list of their audits on GitHub.
  2. Lido uses a unique “distributed custody” solution in which the withdrawal key for all of the network’s validators has been split into 11 different parts secured by 11 different participants.

    The 11 participants include very big names in the crypto scene: Chorus One, Staking Facilities, Certus One, Argent, Banteg (yearn.finance), Alex Svanevik (Nansen), Anton Bukov (1inch), Michael Egorov (Curve/Nucypher), Rune Christensen (MakerDAO), Will Harborne (DeversiFi) and Mustafa Al-Bassam (LazyLedger).

Ready to stake with Lido?

If you have decided to stake with Lido, do check out the Lido Staking page where you can begin your ETH staking journey!


Disclaimer: The opinions on Lido Staking expressed in this blog post is for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide information on Lido Staking. In particular, this blog post is not a substitute for obtaining advice from a qualified investment advisor.

Ethereum Real Life Applications

Recently, the blockchain Ethereum is starting to gain widespread acceptance, many major companies such as Microsoft, Google, Amazon are already using it.

In terms of publicity, Ethereum is still behind its more famous cousin “Bitcoin”, but that should change in the near future. In fact, many people have postulated that a “flippening” may happen where Ethereum takes over Bitcoin as the cryptocurrency with the largest market cap.

In this blogpost, we list the real life applications and uses of Ethereum, using official sources as far as possible. That is, if Google is using Ethereum, we will try to point to the official Google website instead of a third party news site. Otherwise, we will only use very reliable third party sources such as Forbes, etc.

Amazon Ethereum Blockchain

This is very recent news, on Dec 21 2020. Amazon Managed Blockchain now supports Ethereum. With Amazon Managed Blockchain, AWS (Amazon Web Service) customers get secure networking, fast and reliable syncs to the Ethereum blockchain, durable elastic storage for ledger data, encryption at rest and transport, and secure access to the network via standard open-source Ethereum APIs.

Official Amazon Ethereum Blockchain news: https://aws.amazon.com/about-aws/whats-new/2020/12/amazon-managed-blockchain-supports-ethereum/

Google Cloud & Ethereum

Ethereum can inter-operate with Google Cloud’s enterprise cloud data warehouse (BigQuery) via oracle middleware (Chainlink). At a high level, Ethereum Dapps (i.e. smart contract applications) request data from Chainlink, which in turn retrieves data from a web service built with Google App Engine and BigQuery.

Official Google Cloud & Ethereum news:
https://cloud.google.com/blog/products/data-analytics/building-hybrid-blockchain-cloud-applications-with-ethereum-and-google-cloud

Ethereum Blockchain as a Service on Microsoft Azure

Microsoft and ConsenSys (a blockchain software technology company) are partnering to offer Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure so Enterprise clients and developers can have a single click cloud based blockchain developer environment. The initial offering contains two tools that allow for rapid development of SmartContract based applications: Ether.Camp – An integrated developer environment, and BlockApps – a private, semi-private Ethereum blockchain environment, that can deploy into the public Ethereum environment.

Official Microsoft Ethereum news:
https://azure.microsoft.com/es-es/blog/ethereum-blockchain-as-a-service-now-on-azure/

Visa Ethereum

Visa announced it is connecting its global payments network of 60 million merchants to the U.S. Dollar Coin (USDC) developed by Circle Internet Financial on the Ethereum blockchain.

Forbes news: https://www.forbes.com/sites/michaeldelcastillo/2020/12/02/visa-partners-with-ethereum-digital-dollar-startup-that-raised-271-million/?sh=5dc04f484b1f

Visa didn’t quite announce it on its official Visa website, but we can see that Visa is actively recruiting engineers with Ethereum and Solidity (the programming language on Ethereum) experience.

Visa is actively recruiting engineers with Ethereum experience:

We’re seeking a strong developer experienced with Ethereum and blockchain architecture to be a part of
team tasked with building distributed application. Our ideal candidate has built and released distributed
applications, has worked with the Ripple, R3, Ethereum and/or Bitcoin blockchain, and has experience with Solidity

Multiple Positions are available in Austin, TX and Foster City, CA locations

Source from Official Visa website: https://usa.visa.com/careers/job-details.jobid.743999664785893.deptid.934140.html

Ethereum JP Morgan

The Blockchain Center of Excellence at J.P. Morgan leads efforts for Distributed Ledger Technology applications, actively researching blockchain use cases to develop in-house technology and pilot solutions across lines of business within J.P. Morgan.

The program also manages strategic relationships and investments with key vendors and consortia, including Enterprise Ethereum Alliance (EEA). The Enterprise Ethereum Alliance is a member-led industry organization whose objective is to drive the use of Ethereum blockchain technology as an open-standard to empower all enterprises.

Official JP Morgan Ethereum news:
https://www.jpmorgan.com/insights/technology/blockchain

Other Ethereum use cases

A full list of companies using (or interested in using) Ethereum can actually be seen on the Enterprise Ethereum Alliance website, under the members section. We can see that many big name companies are part of the Enterprise Ethereum Alliance, including:

  • Accenture
  • Baidu
  • Dell (Boomi)
  • Ernst & Young
  • Intel
  • PricewaterhouseCoopers LLP
  • Standard Chartered Bank
  • VMware, Inc.

It is interesting to note that 2 of the “Big Four” accounting firms, Ernst & Young and PricewaterhouseCoopers are interested in Ethereum and smart contracts, which could potentially change the accounting industry.

According to Business Times Singapore, 80% of current accounting tasks will soon be done by machines, displacing humans in most junior finance roles.