What is the lido dao token currency
Lido DAO is an innovative new digital asset that seeks to revolutionize the way people invest in cryptocurrency. It is a decentralized autonomous organization (DAO) built on top of the Ethereum blockchain, and its native token currency LIDO serves as a governance token for participating in decision-making within the platform. The goal of Lido DAO is to create an open, transparent, and secure investment environment where users can access high yield returns through staking rewards from various DeFi projects.
The main feature that distinguishes Lido from other tokens or coins is its ability to provide holders with voting rights over decisions regarding investments made by their chosen fund managers. This allows investors to have more control over how their money will be used and gives them greater influence when it comes time for profits sharing among members of the community. Additionally, because all transactions are stored securely on Ethereum’s distributed ledger technology (DLT), users can rest assured knowing that their funds are safe from potential hacks or malicious activities carried out by third parties without authorization or consent from them first hand..
In addition to providing holders with voting rights over investments decisions made by fund managers, another key benefit associated with holding LIDOs includes earning staking rewards which come directly form DeFi projects such as Uniswap v2 LP tokens or Compound lending protocols etc., These reward payouts serve as passive income streams for those who choose not actively participate in making any investment decisions but still want exposure towards lucrative opportunities presented within this space..
Overall ,Lidos' mission statement remains clear: To become one of leading players driving innovation forward within Decentralized Finance (DeFi). With its unique approach towards decentralizing power dynamics between investors & project teams alike while also offering attractive profit incentives along side it - this ambitious project certainly looks set make waves throughout crypto industry during 2021 & beyond!