### What is Lido Staked Ether?

Lido Staked Ether (stETH) is a token that represents Ether that has been staked using the Lido protocol. It merges the initial deposit value with any accrued staking rewards, enabling liquidity and flexibility for staked ETH.

### How does Lido Staked Ether work?

Lido Staked Ether functions by allowing users to stake any amount of ETH into the Lido protocol, which then distributes it among validators. In return, users receive stETH tokens, which represent their staked ETH and accrue rewards. The stETH can be used in various DeFi applications, thereby maintaining liquidity. The balance of stETH is updated daily to reflect staking rewards and any potential penalties. The governance and upkeep of the Lido protocol are managed by the Lido DAO, ensuring transparency and efficiency.

### What are the potential use cases for Lido Staked Ether?

Lido Staked Ether can be utilised in multiple DeFi applications, such as:

1. **Lending:** stETH can be used as collateral in DeFi lending platforms.
2. **Liquidity Pools:** Platforms like Curve allow users to pool stETH with ETH, providing liquidity and enabling swaps between these tokens.
3. **Yield Farming:** stETH holders can engage in yield farming, earning additional returns on their staked tokens.
4. **Rehypothecation:** stETH positions can be used as collateral in further DeFi activities, adding layers of financial leverage.

stETH is also relevant in institutional staking, offering solutions tailored for regulatory compliance and security needs.

### What is the history of Lido Staked Ether?

Lido was founded in December 2020 by Vasilii Shapovalov and Konstantin Lomashuk. Initially focusing on Ethereum, Lido pioneered liquid staking, making staked funds more accessible and usable. Over time, Lido expanded to support other blockchains like Solana and Polygon. Significant growth saw Lido capturing a substantial market share in Ethereum staking, bolstered by integrations with DeFi protocols and institutional partnerships. Lido’s technological evolution includes middleware operations and DAO governance, ensuring decentralisation and resilience. Notably, Lido introduced enhancements post-Ethereum's merge, maintaining its adaptive edge in the market.

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