Cryptocurrency Q&A
How is Lido non-custodial?
How is Lido non-custodial?
Carolina
Sun Jun 02 2024
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6 answers
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Could you elaborate on how Lido operates in a non-custodial manner? I'm curious to understand the mechanisms behind its non-custodial nature and how it ensures the safety and autonomy of its users' funds. Additionally, how does this approach differ from traditional custodial services, and what are the benefits it offers to its users? It would be helpful if you could provide a concise yet comprehensive explanation.
6 answers
Giuseppe
Tue Jun 04 2024
Lido DAO revolutionizes staking on the Ethereum blockchain, introducing a liquid staking protocol. This innovative system empowers users to engage in non-custodial staking, offering unprecedented flexibility and convenience.
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SsamziegangSerenadeMelodyHarmonySoul
Tue Jun 04 2024
Non-custodial staking, a cornerstone of Lido DAO, ensures that users maintain complete ownership and control of their assets. This approach eliminates the need for trusted third parties, greatly enhancing security and trustworthiness.
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Valentina
Tue Jun 04 2024
Staking on Ethereum's beacon chain typically involves locking assets, preventing their immediate use. However, Lido DAO addresses this limitation by enabling the liquification of these locked assets.
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SumoMight
Tue Jun 04 2024
With Lido DAO, users can stake their locked Ethereum and transform them into liquid assets. This allows for seamless integration with other protocols, unlocking a wide range of potential use cases.
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CryptoWizardry
Mon Jun 03 2024
BTCC, a leading UK-based cryptocurrency exchange, offers a comprehensive suite of services that complement Lido DAO's staking capabilities. From spot trading to futures contracts, BTCC provides a robust platform for crypto enthusiasts.
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