Lido dApp on Ethereum

All about Lido and how to connect to it with your Exodus Browser Extension.

In this article:

What is Lido?

Lido is a liquid staking solution for the Ethereum blockchain.

When Ethereum is staked, it cannot be transacted. This forces ETH holders to choose between staking their ETH or using it in the Ethereum DeFi ecosystem.

This is where Lido comes in. When you stake ETH with Lido, you are given stETH (staked ETH) equal to the amount of ETH you staked. You can then use stETH for DeFi protocols that offer services such as lending, collateral, trading, and more, all while continuing to earn rewards from the staked ETH.

The price of stETH tracks the price of ETH. Because Lido is non-custodial, your ETH remains under your control.

The Lido protocol is completely open source and its code has been audited and secured. In addition to that, the participating validators have been vetted and the dApp is governed by a DAO.

Before interacting with Lido, be sure to read more on dApp bugs in our Knowledge Base article: Safety and security for DeFi and dApps.

For more information on Lido and how to use it, you can also read through their documentation .

Are there fees for using Lido?

You can connect to and disconnect from Lido without any ETH. However, staking ETH through Lido will incur a network transaction fee, also known as gas fees. Ethereum gas fees can vary depending on network traffic.

You can use the Ethereum gas tracker on Etherscan to track Ethereum gas fees at any given time.

Additionally, Lido charges a 10% staking fee from earned rewards. This fee goes to the Lido DAO, the staking validators, and the Lido cover fund.

How do I connect my wallet to Lido?

To connect successfully, please ensure that you have enabled Prioritize Exodus and that Exodus Browser Extension is the only Ethereum browser extension installed. Questions? See all the details here.

Go to Lido and click Stake now.

Under Ethereum, click Stake now.

Click Connect wallet.

Check the box to agree to Lido's terms of service and privacy notice, then select MetaMask.

On the connection approval screen, click Connect.

How do I approve a transaction on Lido?

When staking on Lido, your browser extension wallet will pop up and prompt you to approve the transaction.
Click Approve.

How do I disconnect my wallet from Lido?

Open Browser Extension and click the Menu icon.

Click Connections.

Next to Lido, click the delete icon.

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