What is use cases of LDO token? Only voting?

Question

Lido

Peace Sky

What is use cases of LDO token? Only voting?

#cryptocurrency #english #lido

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20.03.2024

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Sven

John Legend
The LDO token, associated with the Lido protocol, ...

This looks really well written, but most of it is not true. There's no staking of LDO, and you can't pay protocol fees in LDO. It's mainly a governance token, and an incentive for contributors. You can read more from when the token was introduced here: https://blog.lido.fi/introducing-ldo/

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7 месяцев назад

John Legend · Accepted Answer

The LDO token, associated with the Lido protocol, has several use cases beyond voting. Some of the key use cases of the LDO token include: Governance: LDO holders can participate in governance proposals to vote on changes, upgrades, and decisions related to the Lido protocol. Staking Rewards: LDO holders can stake their tokens to secure the network and earn staking rewards in return. Protocol Fees: LDO tokens may be used to pay for fees within the Lido protocol, such as withdrawal fees or other transaction costs. Incentives: Some protocols may offer incentives in the form of LDO tokens to encourage specific behaviors or actions within the ecosystem. Community Participation: LDO tokens can be used to incentivize community participation, engagement, and contribution to the development and growth of the Lido ecosystem. While voting is an important aspect of the LDO token's utility, it is not the only use case, and the token serves multiple functions within the Lido protocol ecosystem.

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What is use cases of LDO token? Only voting?

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