Lido Review
Liquid Staking · Official site ↗
By DifiCalc Research Team · Published Sep 12, 2026 Data verified Sep 12, 2026 via DeFiLlama
The largest liquid staking protocol — stETH is DeFi's default staked ETH receipt
Best for: ETH holders who want the most liquid, most composable staking receipt to deploy across DeFi
Risk Assessment
Largest LST by TVL (~$33B), continuously live since 2020 through the 2022 depeg stress and the 2023 Shapella withdrawal enablement, with four public audits and a curated set of 35+ professional node operators.
Fees
| Staking Fee | 10% of staking rewards (split between node operators and Lido DAO) |
| Withdrawal | No fee for standard withdrawals |
Top Vaults
| Vault | Asset | Strategy | 30d APY |
|---|---|---|---|
| stETH | ETH | Native liquid staking via 35+ node operators | 2.9% |
| wstETH/ETH | Curve stableswap | LST Corated pool + CRV gauge | 3% |
| wstETH | Aave Ethereum | Supply as collateral (~0.2% APY) + staking yield | 3.1% |
| wstETH | EigenLayer | Restaking on top of Lido position | 3.4% |
Strengths
- ✓Deepest liquidity of any LST — stETH/wstETH are accepted as collateral across every major lending market
- ✓Battle-tested: survived the June 2022 depeg (recovered within weeks) and enabled full withdrawals at Shapella
- ✓Most composable ETH staking receipt for use across lending, Curve pools and restaking
Weaknesses & Risks
- !10% fee on staking rewards is the highest among major LSTs
- !Curated operator set (35+ professional operators) is less permissionless than Rocket Pool's model
- !stETH can trade below peg under acute stress — historically about -7% at the June 2022 trough
Compare Lido with alternatives
Lido FAQ
What is Lido?
Lido is a liquid staking protocol, founded in 2020, live on ethereum, arbitrum, optimism, base, polygon. The largest liquid staking protocol — stETH is DeFi's default staked ETH receipt
What APY can I earn on Lido?
Current yields typically range from 2.5% to 4% APY, with a typical rate around 2.9%. APY varies with market conditions, utilization and token emissions — always verify live rates before depositing.
Is Lido safe?
DifiCalc risk grade: A+. Largest LST by TVL (~$33B), continuously live since 2020 through the 2022 depeg stress and the 2023 Shapella withdrawal enablement, with four public audits and a curated set of 35+ professional node operators. Audits: Sigma Prime, Quantstamp, MixBytes, Certora. As with all DeFi, smart-contract and market risk remains — never deposit more than you can afford to lose.
What fees does Lido charge?
Staking Fee: 10% of staking rewards (split between node operators and Lido DAO). Withdrawal: No fee for standard withdrawals.
Run the numbers yourself
Model a real Lido position with our free yield calculator — no signup.
Information last reviewed in 2026. APY figures are indicative ranges from protocol data and may differ from live rates. This page is for informational purposes only and is not financial advice.