Overview
Lido on Polygon is a DAO governed liquid staking protocol for Polygon PoS chain. It allows users to stake their ERC20 MATIC tokens on Ethereum mainnet and immediately get the representation of their share in the form of stMATIC token without maintaining staking infrastructure. Users will get staking rewards and still be able to control their stMATIC tokens MATIC tokens will be delegated across validators that are registered and accepted by the DAO insideLido on Polygon protocol.
- Node operators don't have direct access over the delegated assets.
- They are just providing infrastructure and getting rewards in return.
- Assets are controlled by Lido on Polygon contracts exclusively.
The goal is to help with Polygon decentralization and integrate stMATIC with the variety of protocols and DeFi applications on Ethereum mainnet and Polygon PoS chain.
The Lido DAO
The Lido DAO is an Aragon organization. Since Aragon provides a full end-to-end framework to build DAOs, we use its standard tools. The protocol smart contracts extend AragonApp base contract and can be managed by the DAO.
LDO Token
LDO is a MiniMeToken granting governance rights in the Lido DAO. By holding the LDO token, one is granted voting rights within the Lido DAO. The more LDO locked in a user’s voting contract, the greater the decision-making power the voter gets.