Provide a narrative description of the purpose of the project.
Response
Managed through the Lido DAO governance process, the Lido protocol is an Ethereum liquid staking protocol whose primary mission is to make Ethereum staking simple, secure, and decentralized. Users deposit ETH and receive stETH, which represents their staked ETH plus any accrued staking rewards. Because the stETH token remains liquid and transferable, it can be utilized across DeFi and CeFi ecosystems for additional reward opportunities.
In addition to the original liquid staking solution (“Lido Core”), the protocol supports Staking Vaults (“stVaults”) — modular primitives that allow institutions and other operators to customize their staking setups while retaining access to stETH liquidity.
Beyond staking, the protocol is expanding into new frontiers via Lido Earn to improve reward generation for DeFi users.
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:
For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Response
Full Name | Official Title | Prior Experience |
|---|---|---|
Primary Developer Company does not exist. | ||
Lido DAO exists as a decentralized on-chain governance system governed by LDO token holders. No single person or entity can exercise control over the DAO or the underlying Lido protocol. |
Full Name | Official Title | Prior Experience |
|---|---|---|
Vasiliy Shapovalov | Co-founder of Lido, Executive Director at the Lido Labs Foundation | Former CTO, Research Lead |
Isidoros Passadis | Chief of Staking at Lido Ecosystem Foundation | Former Master of Validators at the Lido DAO from 2021. Before Lido DAO, spent over 10 years in auditing, consulting and risk management. |
Kate Zueva | COO at Lido Labs Foundation |
Full Name | Official Title | Prior Experience |
|---|---|---|
LDO token holders | Govern the Lido DAO; no single person or entity can exercise control over the DAO or the underlying Lido protocol |
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.
Response
Lido DAO operates as an on-chain governance system on Ethereum. Governance is exercised through (i) Aragon on-chain voting on the DAO contracts and (ii) Snapshot off-chain signaling. The DAO also operates via Easy Track, an optimistic on-chain governance mechanism under which pre-approved committees execute bounded motions that take effect after an objection window unless LDO holders object above a set threshold.
In addition, executable on-chain proposals route through the Dual Governance contract layer that gives stETH holders a rage-quit option, delaying the DAO decisions affecting them.
Lido DAO controls the canonical Lido protocol smart contracts.The smart contract codebases comprising the protocol are open-source.
https://docs.lido.fi/deployed-contracts/
https://github.com/lidofinance
All in-scope upgrade and core parameter changes parameter-setting authorities for the core protocol are held by the Aragon Voting and Aragon Agent contracts and are exercised only by successful Aragon votes and optional subsequent flow through the Dual Governance timelock.
A bounded set of routine parameter and operational actions has also been delegated via DAO voting to purpose-specific committee multisigs, acting through Easy Track (optimistic motions that execute after an objection window unless vetoed). These delegations are limited in scope and remain revocable by Lido DAO; the operational multisigs and Easy Track factories are catalogued at https://docs.lido.fi/multisigs/committees
Pause authorities are limited and held by purpose-specific committee multisigs:
No native LDO locking mechanism currently grants additional governance rights.
The Lido protocol operates through governance processes involving LDO token holders, and its governance and operational support structures may continue to evolve over time as ecosystem needs, technical architecture, and governance frameworks develop. For example, following the Lido DAO’s approval of GOOSE-3 — which defines the 2026 strategic goals and a three-year vision — the Lido Labs, Lido Ecosystem, and Lido Alliance Foundations collaborate to support the protocol under defined purposes that outline their respective roles and responsibilities.
The Lido protocol operates through a LDO token holders’ governed process. Votes are subject to minimum quorum requirements. No single participant or entity may unilaterally “dissolve” the protocol, which operates via immutable smart contracts on the Ethereum blockchain. Changes to governance processes, protocol operations, supporting infrastructure, or ecosystem arrangements may be proposed and implemented through applicable governance procedures, including onchain and offchain voting mechanisms where relevant. Certain legal entities receive grants that are meant to further the DAO’s goals. Such entities can be dissolved in accordance with their respective governing documents and applicable law.
For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary Foundation can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original Foundation has been dissolved and in its place a "new Foundation" was created, then detail the "new Foundation".
Response
Primary Foundation at TGE does not exist. The Lido DAO Governance token LDO was launched on 2021-01-05 by Lido DAO via Aragon (https://blog.lido.fi/introducing-ldo/). No registered Foundation entity issued LDO at TGE.
Three Lido-DAO-adjacent Foundations have been established by Snapshot vote and incorporated as exempted limited-guarantee foundation companies in the Cayman Islands. None of the three Foundations are directly or indirectly involved in the LDO issuance. Information per the establishment proposals follows.
Lido Labs Foundation (approved 2025-01-30): Lido Labs Foundation - an exempted limited guarantee foundation company in the Cayman Islands without members or beneficiaries. Memorandum of Association at https://snapshot.org/#/s:lido-snapshot.eth/proposal/0xdf648307e68415e7b5cf96c6afbabd696c1731839f4b4a7cf5cb7efbc44ee9d6.
Lido Ecosystem Foundation (approved 2025-01-30): Lido Ecosystem Foundation – an exempted limited guarantee foundation company in the Cayman Islands without members or beneficiaries. Memorandum of Association at https://snapshot.org/#/s:lido-snapshot.eth/proposal/0x7f72f12d72643c20cd0455c603d344050248e75ed1074c8391fae4c30f09ca15
Lido Alliance Foundation (approved 2024-09-05): Lido Alliance Foundation – an exempted limited guarantee foundation company in the Cayman Islands without members or beneficiaries.
Lido Labs Foundation (approved 2025-01-30): Per the establishment proposal, the Lido Labs Foundation supports the Lido DAO’s goals by fostering research, development, and deployment, and by facilitating the maintenance of the Lido protocol, smart contracts, applications, and infrastructure. Explicit IP holdings are not described in the proposal text reviewed.
Lido Ecosystem Foundation (approved 2025-01-30): Per the establishment proposal, the Lido Ecosystem Foundation supports the Lido DAO’s goals by accelerating ecosystem growth and institutional adoption. Its core mandate is to develop and manage relationships with institutions, DAOs, and projects, while also promoting the expansion of (w)stETH across other blockchains. Explicit IP holdings are not described in the proposal text reviewed.
Lido Alliance Foundation (approved 2024-09-05): Lido Alliance Foundation’s permitted purposes originally focused on furthering the Alliance Program, but have since been expanded to encompass the new initiatives, products, and activities undertaken pursuant to GOOSE-3. Explicit IP holdings are not described in the proposal text reviewed.
Lido Labs Foundation (approved 2025-01-30): None. The Lido Labs Foundation has no control over the DAO’s treasury and cannot change protocol parameters, mint LDO, or alter token administration.
Lido Ecosystem Foundation (approved 2025-01-30): None. Following the DAO's approval of the LDO Accumulation Program, the Growth Committee — which operates under the umbrella of the Lido Ecosystem Foundation — is authorized to execute the accumulation of LDO using up to 10,000 stETH from the DAO Treasury. The committee multisig address temporarily holds treasury assets during trade execution on behalf of the DAO. More details are provided here.
Lido Alliance Foundation (approved 2024-09-05): None. The Foundation receives DAO grants but cannot direct DAO treasury actions, change protocol parameters, mint LDO, or alter token administration. The Foundation would hold all tokens contributed by Lido Allies in the Alliance Multisigs. Lido DAO’s co-approval is required for all usages of the Lido Ally-contributed tokens as a security measure — this requirement is initially imposed by virtue of the bylaws.
Lido Labs Foundation (approved 2025-01-30): Not applicable
Lido Ecosystem Foundation (approved 2025-01-30): Not applicable
Lido Alliance Foundation (approved 2024-09-05): No separate DevCo entity exists.
Lido Labs Foundation (approved 2025-01-30): The Lido Labs Foundation holds no authority over the core Lido protocol contracts. Rather, it encompasses certain committee multi-sigs (i.e., CircuitBreaker Committee and Emergency Brakes (per L2)) that possess strictly limited pause authority over specific on-chain functionalities in the event of an emergency. Further details are available in Section 3b.
Lido Ecosystem Foundation (approved 2025-01-30): None over core Lido protocol contracts.
Lido Alliance Foundation (approved 2024-09-05): None over the core Lido protocol contracts. Multisig signers and quorum at https://docs.lido.fi/multisigs/alliance (operating under 3/5 quorum at the Foundation operational multisig).
Lido Labs Foundation (approved 2025-01-30): Under the Ecosystem Grant gRequest (“EGG”), Lido Labs Foundation has received from Lido DAO an annual grant for 2026 to execute on the plan set out therein.
Lido Ecosystem Foundation (approved 2025-01-30): Under the Ecosystem Grant gRequest (“EGG”), Lido Ecosystem Foundation has received from Lido DAO an annual grant for 2026 to execute on the plan set out therein.
Lido Alliance Foundation (approved 2024-09-05): Under the Ecosystem Grant gRequest (“EGG”), Lido Alliance Foundation has received from Lido DAO an annual grant for 2026 to execute on the plan set out therein.
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary DevCo can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original DevCo has been dissolved and in its place a "new DevCo" was created, then detail the "new DevCo".
Response
Primary Developer Company does not exist.
Primary Developer Company does not exist.
Primary Developer Company does not exist.
Primary Developer Company does not exist.
Primary Developer Company does not exist.
Primary Developer Company does not exist.
Definition (for this section): An Affiliated Protocol Contributor (APC) is a non-issuer company - not the protocol's primary Foundation or DevCo - that materially contributes to the protocol's code, operations, governance, or funding. For example, Blockworks Advisory would be considered an APC of Ethena because it materially contributes to its operations through Ethena's risk council. Provide a structured description per APC. If no APCs exist, state that explicitly across each sub-question. Items below apply per APC.
Response
The Lido protocol relies on a number of independent companies in the senses defined by this question. Those most clearly characterized as “Affiliated Protocol Contributors” by published documentation are listed below.
With the DAO's approval, many companies and individuals contribute to Lido protocol operations through multisig-based committees (e.g., emergency brakes and LEGO funding). All multisigs and their respective purposes are publicly listed. Importantly, these groups have no direct authority over protocol parameters or core protocol contracts.
Identities and Roles: bloXroute (bloXroute Labs, Inc., a US corporation), Caliber, ChainLayer (Cloud Catalyst B.V., a Dutch private limited company), Chorus One (Chorus One AG, a Swiss company now acquired by Bitwise and doing business as Bitwise Onchain Solutions), Instadapp, Matrixed.Link, P2P.org (P2P Staking, a Cayman Islands company), stakefish (stakefish Inc., a British Virgin Islands company) and Staking Facilities (Staking Facilities Services GmbH & Co. KG, a German limited partnership), each operating through its own legal entity. They are independent companies and the authoritative source for their own entity details, which may change over time. The primary role of Lido oracle members is to run a network of computer nodes that collectively provide the necessary information from the Beacon Chain to the Oracle smart contracts to calculate the Lido core’s new state.
The Lido Oracle committee utilizes a 5-of-9 quorum to reach consensus for protocol state updates. The information they provide is essential for the Lido smart contracts to execute state transitions and carry out several crucial processes, including:
The information provided might trigger 'bunker mode', which pauses the fulfillment of withdrawal requests until underlying issues are resolved or the maximum delay duration is reached. This mechanism prevents sophisticated users from exiting early in anticipation of a dramatic network- or protocol-wide event. For more details, see: https://docs.lido.fi/guides/oracle-spec/accounting-oracle#bunker-mode
Each oracle member receives a fixed payment, introduced in 2023, to cover the cost of running an archive node for oracle reporting. It is not a share of protocol revenue. The funds originate from the Lido DAO treasury, distributed via Easy Track motions to the Lido Labs Foundation’s operational multisig, which pays each member monthly in USDC to a compensation address the member published on the Research forum. There is no fixed end date. Payments cover current members of the oracle set, which changes by DAO vote.
Node operators across Lido Core’s three staking modules serve a distinct operational role. They run validators on behalf of stETH holders and receive stETH from the 10% staking fee, but they possess no administrative power over the core contracts. Consequently, they are not enumerated individually as APCs here.
Response
Ticker | Date | Allocation Category Name | Recipient Type | Allocation % | Allocation Tokens | TGE Unlock % | TGE Unlock Tokens | Cliff Months | Cliff Unlock % | Linear Vesting Months | Cadence Months | Circulating Treatment | Notes on what each category is used for | If applicable: Contract / Wallet address |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
LDO | 1/5/2021 | DAO Treasury | Treasury | 0.3592 | 359200000 | 1 | 359200000 | 0 | 0 | 0 | 1 | Conditional | DAO treasury allocation of 36.32% at launch, shown net of the 0.4% early staker airdrop distributed from it (36.32% less 0.4% equals 35.92%). Unlocked at launch. Anyone can propose how treasury tokens are used, and spending requires a Lido DAO governance vote, so treatment is Conditional. Held in the Lido DAO Aragon Agent. Sources https://blog.lido.fi/introducing-ldo/ and https://docs.lido.fi/deployed-contracts/ | 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c |
LDO | 1/5/2021 | Early Staker Airdrop | Community | 0.004 | 4000000 | 1 | 4000000 | 0 | 0 | 0 | 1 | No | Airdrop of 4,000,000 LDO (0.4% of supply) from the DAO treasury allocation, distributed to early stakers at launch and unlocked. Source https://blog.lido.fi/introducing-ldo/ | |
LDO | 1/5/2021 | Early Backers | Private / VC | 0.2218 | 221800000 | 0 | 0 | 11 | 0 | 12 | 1 | No | Founding member allocation. Tokens could be used for governance immediately but could not move for one year from Dec 2020, then vested linearly per block over the following year. Modeled as an 11-month cliff from the Jan 5, 2021 TGE date with no cliff unlock, followed by 12 monthly linear unlocks, approximating the Dec 2021 to Dec 2022 vest. Source https://blog.lido.fi/introducing-ldo/ | |
LDO | 1/5/2021 | Validators and Signature Holders | Insiders | 0.065 | 65000000 | 0 | 0 | 11 | 0 | 12 | 1 | No | Founding member allocation. Tokens could be used for governance immediately but could not move for one year from Dec 2020, then vested linearly per block over the following year. Modeled as an 11-month cliff from the Jan 5, 2021 TGE date with no cliff unlock, followed by 12 monthly linear unlocks, approximating the Dec 2021 to Dec 2022 vest. Source https://blog.lido.fi/introducing-ldo/ | |
LDO | 1/5/2021 | Initial Lido Developers | Insiders | 0.2 | 200000000 | 0 | 0 | 11 | 0 | 12 | 1 | No | Founding member allocation. Tokens could be used for governance immediately but could not move for one year from Dec 2020, then vested linearly per block over the following year. Modeled as an 11-month cliff from the Jan 5, 2021 TGE date with no cliff unlock, followed by 12 monthly linear unlocks, approximating the Dec 2021 to Dec 2022 vest. Source https://blog.lido.fi/introducing-ldo/ | |
LDO | 1/5/2021 | Founders and Future Contributors | Insiders | 0.15 | 150000000 | 0 | 0 | 11 | 0 | 12 | 1 | Conditional | Founding member allocation covering founders and future contributors. Conditional because the future contributor portion requires a separate grant to recipients before it can circulate. Tokens could be used for governance immediately but could not move for one year from Dec 2020, then vested linearly per block over the following year. Modeled as an 11-month cliff from the Jan 5, 2021 TGE date with no cliff unlock, followed by 12 monthly linear unlocks, approximating the Dec 2021 to Dec 2022 vest. Same lock and vest terms as the other founding member categories. Source https://blog.lido.fi/introducing-ldo/ |
If there are no post-TGE token compensation plans, state explicitly they do not exist across each sub-question. If there are, explain each of (a)–(b) below.
Response
A post-TGE token compensation plan exists for certain Lido ecosystem contributors: the Token Reward Plan (TRP), which began 2022-11-01 with a total allocation of 22,000,000 LDO (2.2% of total supply). Stewardship was transferred from the TRP Committee under the grants association to Lido Labs Foundation effective 2025-11-08, and the program terms were amended at the same time.
As of 2025-11-07 disclosures in the amendment proposal:
As of 2026-10-01, approximately 0.3% of total supply remained unvested under TRP grants made after the amendment, held in onchain vesting escrows funded by the TRP multisig.
Under the amended TRP (effective 2025-11-08), grants vest over a total of two years. Grants to existing Lido contributors as of 2025-11-08 have no cliff; grants to new contributors have a one-year cliff. Vesting is continuous: each grant is held in its own onchain vesting escrow and vests linearly from its start date, with nothing claimable before the cliff ends, if applicable.
Disclose current token-based compensation for external advisors and service providers (e.g., legal, marketing, technical, growth) funded from the on-chain treasury. Do not disclose individual payments to advisors receiving fiat-only compensation. If there are no advisors contracted in tokens then state across each sub-question that no token-based advisory compensation exists.
Response
A post-TGE token compensation plan exists for certain Lido ecosystem contributors. Further details were provided in Section 8. No external advisors or service providers currently receive compensation in LDO funded from the DAO treasury.
Under the Delegate Incentivization Program, public delegates received LDO from the program's start on 2024-09-01 until the Q4 2025 (distributed in March 2026). Since the DAO approved Delegate Incentivization Program 2.0 on 2026-03-09, delegate rewards are paid in USD-denominated stablecoins instead of LDO.
No external advisors or service providers currently receive compensation in LDO funded from the DAO treasury.
No external advisors or service providers currently receive compensation in LDO funded from the DAO treasury.
No external advisors or service providers currently receive compensation in LDO funded from the DAO treasury.
Disclose ongoing KOL/influencer relationships that partially or fully received tokens for payment. You do not need to disclose KOL/influencers that do not receive tokens for payment. If no KOL engagements exist, state for each sub-question that no KOL engagements exist.
Response
No KOL or influencer arrangement that pays in LDO is documented.
Not applicable
Not applicable
For each wallet that holds Unissued Tokens or is essential to operations (e.g., foundation, operations, treasury, investor reserve), disclose:
Definition: Unissued Supply = tokens authorized by the contract but not yet issued to any party; where they sit (treasury or mint authority) does not change that they are unissued. For instance: if a token has a total supply cap of 1B, and 400M tokens have been issued to investors, the team, and users (whether vested or unlocked), then those 400M count as issued supply. The remaining 600M are authorized but unissued supply, even if they are already minted into a DAO treasury wallet.
Response
Title | Primary Function | Chain | Address | Control Mechanism | Explorer Link |
|---|---|---|---|---|---|
Lido DAO Treasury via Aragon Agent | Lido DAO Treasury | Ethereum | 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c | Lido DAO onchain vote | |
Lido Labs Foundation | The Lido Labs BORG Foundation utilizes this multisig to hold and manage the Lido Labs BORG’s operational budget. | Ethereum | 0x95B521B4F55a447DB89f6a27f951713fC2035f3F | Multisig, 5/9 quorum | |
Lido Ecosystem Foundation | The Lido Ecosystem BORG Foundation utilizes this multisig to hold and manage the Lido Ecosystem BORG’s operational budget. | Ethereum | 0x55897893c19e4B0c52731a3b7C689eC417005Ad6 | Multisig, 4/7 quorum | |
Lido Alliance BORG Operational | The Lido Alliance BORG Foundation utilizes this multisig to hold and manage the Lido Alliance BORG’s operational budget. | Ethereum | 0x606f77BF3dd6Ed9790D9771C7003f269a385D942 | Multisig, 3/5 quorum | |
Rewards Share Committee (prev. Referral Program Committee) | Multisig is used for signing off on the Rewards Share Program, allowing functions such as adding and removing participants to whitelist, and distributing funds (stETH) allocated for Rewards Share Program according to budget proposal and calculated based on Rewards Share Program Policy through the Easy Track. | Ethereum | 0xe2A682A9722354D825d1BbDF372cC86B2ea82c8C | Multisig, 3/6 quorum | |
Token Reward Program (TRP) Association Multisig | TRP Multisig performs operations around TRP: receives LDOs for TRP allocations, creates new TRP distribution vaults, revokes the allowances from the no longer required existing TRP vault, grants direct TRP payments if operationally necessary & gets funded from the DAO Treasury through ET motions. | Ethereum | 0x834560F580764Bc2e0B16925F8bF229bb00cB759 | Multisig, 4/7 quorum | |
Liquidity Observation Lab Committee | The multisig used by the Liquidity Observation Lab (LOL) Committee for signing off, and perform LOL operations of allocating grants across DeFI & is funded through Easy Track motions. | Ethereum | 0x87D93d9B2C672bf9c9642d853a8682546a5012B5 | Multisig, 5/9 quorum | |
Upon the launch of Lido DAO, a total of 1 billion LDO tokens were minted. As of June 2026, ~108,2M LDO remain in the Lido DAO treasury. A full list of Lido DAO operational multisigs can be found in the Multisigs section of Lido Docs. Committees that hold protocol permissions rather than tokens are described in Section 3(b). The DAO treasury address: 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c. |
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly. For each market maker, include in a table:
If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).
Response
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Response
Exchange Name | Token Allocation Committed | Term Duration | Native Token Listing Fees |
|---|---|---|---|
LDO is widely listed across centralized and decentralized exchanges. |
If a category does not exist or is not applicable, make that clear in plain language.
Response
A one-time LDO Accumulation Program was authorized by a Lido DAO Snapshot vote that passed on 2026-04-13.
A separate rule-based automated buyback mechanism (NEST) was approved on 2026-08-14
The Treasury Diversification sales were authorized by LDO tokenholders through the governance process, to diversify Treasury assets and to bring strategic partners into the DAO as independently incentivized participants in governance.
Sources:
https://blog.lido.fi/introducing-ldo/ https://research.lido.fi/t/proposal-ldo-treasury-diversification/458
https://research.lido.fi/t/treasury-diversification-2-part-2/2657
Not applicable
Not applicable
Not applicable
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Response
Series Name | Investment Instrument | Date Of Sale | Number of tokens sold | Vesting Schedule |
|---|---|---|---|---|
Treasury Diversification | January 2021 | 221,800,000 (22.18%) | A 1-year lock-up and 1 year linear vesting | |
Treasury Diversification | April–September 2021 | 100,000,000 (10%) | A 1 year lock-up and 1 year linear vesting | |
Treasury Diversification | July 2022 | 10,000,000 (1%) | 1 year lock up vesting period |
Provide a narrative description of the Project's material funding sources, economic flows, and operational provisioning, broken out by entity: Foundation, Lab/DevCo, and DAO. If an entity does not exist, state that explicitly.
Response
The three Lido Foundations receive grant funding from the DAO to serve different purposes based on the DAO’s annual strategic plan (e.g., the 2026 EGG):
The LDO governance token confers governance rights only — it does not confer a right to a share of fees, treasury distributions, or rewards. Active mechanisms that direct protocol-controlled resources:
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
Response
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
No security incident has resulted in loss of user funds, as of 30 June 2026. Security disclosures can be found: https://docs.lido.fi/security/disclosures/
Provide a single income statement, expense summary, or comparable operating statement for the primary Foundation or Developer Company. A consolidated or entity-level presentation is acceptable. Balance Sheet and Statement of Cash Flows may be included but are not required. This item is intended to provide transparency into offchain operating resources and expenditures only.
Response
Line Item | Amount |
|---|---|
mUSD Gross Staking Rewards Q1 Total | 149.84 |
mUSD (stETH Holder Rewards) Q1 Total | (134.85) |
mUSD Staking Gross Revenue* Q1 Total | 14.99 |
mUSD (Staking Revenue Deductions) Q1 Total | (6.36) |
mUSD Net Staking Revenue Q1 Total | 8.63 |
mUSD Lido Earn Gross Revenue Q1 Total | 0.23 |
mUSD Lido Earn Revenue Deductions Q1 Total | (0.03) |
mUSD Net Lido Earn Revenue Q1 Total | 0.20 |
mUSD New Bets Gross Revenue Q1 Total | 0 |
mUSD (New Bets Revenue Deductions) Q1 Total | 0 |
mUSD Net New Bets Revenue Q1 Total | 0 |
mUSD Total Net DAO Revenue Q1 Total | 8.83 |
mUSD Staking Core Costs Q1 Total | (2.90) |
mUSD Staking Growth Costs Q1 Total | (1.48) |
mUSD Staking Total Costs Q1 Total | (4.38) |
mUSD Earn Core Costs Q1 Total | (0.60) |
mUSD Earn Growth Costs Q1 Total | (0.05) |
mUSD Earn Total Costs Q1 Total | (0.65) |
mUSD New Bets Core Costs Q1 Total | (0.32) |
mUSD New Bets Growth Costs Q1 Total | 0.00 |
mUSD New Bets Total Costs Q1 Total | (0.32) |
mUSD Shared Services Q1 Total | (1.57) |
mUSD (Foundation Expenses) Q1 Total | (6.92) |
mUSD Operating Result before non-recurring items (DAO + Foundations) Q1 Total | 1.91 |
mUSD Non-recurring Staking Q1 Total | 0.00 |
mUSD Non-recurring Earn Q1 Total | 0.00 |
mUSD Non-recurring New Bets Q1 Total | 0.00 |
mUSD Non-recurring Other Q1 Total | 0.00 |
mUSD (DAO Expenses - non-recurring) Q1 Total | 0.00 |
mUSD Total Results (DAO + Foundations) Q1 Total | 1.91 |
mUSD Staking Product Result Q1 Total | 4.25 |
mUSD Earn Product Result Q1 Total | (0.45) |
mUSD New Bets Product Result Q1 Total | (0.32) |
mUSD Product Results (DAO + Foundations) Q1 Total | 3.48 |
mUSD Gross Staking Rewards Q2 Total | 125.17 |
mUSD (stETH Holder Rewards) Q2 Total | (112.65) |
mUSD Staking Gross Revenue* Q2 Total | 12.52 |
mUSD (Staking Revenue Deductions) Q2 Total | (5.44) |
mUSD Net Staking Revenue Q2 Total | 7.08 |
mUSD Lido Earn Gross Revenue Q2 Total | 0.04 |
mUSD Lido Earn Revenue Deductions Q2 Total | (0.01) |
mUSD Net Lido Earn Revenue Q2 Total | 0.03 |
mUSD New Bets Gross Revenue Q2 Total | 0 |
mUSD (New Bets Revenue Deductions) Q2 Total | 0 |
mUSD Net New Bets Revenue Q2 Total | 0 |
mUSD Total Net DAO Revenue Q2 Total | 7.11 |
mUSD Staking Core Costs Q2 Total | (2.97) |
mUSD Staking Growth Costs Q2 Total | (1.63) |
mUSD Staking Total Costs Q2 Total | (4.60) |
mUSD Earn Core Costs Q2 Total | (0.63) |
mUSD Earn Growth Costs Q2 Total | (0.01) |
mUSD Earn Total Costs Q2 Total | (0.64) |
mUSD New Bets Core Costs Q2 Total | (0.52) |
mUSD New Bets Growth Costs Q2 Total | (0.07) |
mUSD New Bets Total Costs Q2 Total | (0.59) |
mUSD Shared Services Q2 Total | (1.58) |
mUSD (Foundation Expenses) Q2 Total | (7.41) |
mUSD Operating Result before non-recurring items (DAO + Foundations) Q2 Total | (0.30) |
mUSD Non-recurring Staking Q2 Total | 0.00 |
mUSD Non-recurring Earn Q2 Total | (6.06) |
mUSD Non-recurring New Bets Q2 Total | 0.00 |
mUSD Non-recurring Other Q2 Total | 0.00 |
mUSD (DAO Expenses - non-recurring) Q2 Total | (6.06) |
mUSD Total Results (DAO + Foundations) Q2 Total | (6.36) |
mUSD Staking Product Result Q2 Total | 2.48 |
mUSD Earn Product Result Q2 Total | (6.67) |
mUSD New Bets Product Result Q2 Total | (0.59) |
mUSD Product Results (DAO + Foundations) Q2 Total | (4.78) |
mUSD Gross Staking Rewards H1'2026 Total | 275.01 |
mUSD (stETH Holder Rewards) H1'2026 Total | (247.50) |
mUSD Staking Gross Revenue* H1'2026 Total | 27.51 |
mUSD (Staking Revenue Deductions) H1'2026 Total | (11.80) |
mUSD Net Staking Revenue H1'2026 Total | 15.71 |
mUSD Lido Earn Gross Revenue H1'2026 Total | 0.27 |
mUSD Lido Earn Revenue Deductions H1'2026 Total | (0.04) |
mUSD Net Lido Earn Revenue H1'2026 Total | 0.23 |
mUSD New Bets Gross Revenue H1'2026 Total | 0 |
mUSD (New Bets Revenue Deductions) H1'2026 Total | 0 |
mUSD Net New Bets Revenue H1'2026 Total | 0 |
mUSD Total Net DAO Revenue H1'2026 Total | 15.94 |
mUSD Staking Core Costs H1'2026 Total | (5.87) |
mUSD Staking Growth Costs H1'2026 Total | (3.11) |
mUSD Staking Total Costs H1'2026 Total | (8.98) |
mUSD Earn Core Costs H1'2026 Total | (1.23) |
mUSD Earn Growth Costs H1'2026 Total | (0.06) |
mUSD Earn Total Costs H1'2026 Total | (1.29) |
mUSD New Bets Core Costs H1'2026 Total | (0.84) |
mUSD New Bets Growth Costs H1'2026 Total | (0.07) |
mUSD New Bets Total Costs H1'2026 Total | (0.91) |
mUSD Shared Services H1'2026 Total | (3.15) |
mUSD (Foundation Expenses) H1'2026 Total | (14.33) |
mUSD Operating Result before non-recurring items (DAO + Foundations) H1'2026 Total | 1.61 |
mUSD Non-recurring Staking H1'2026 Total | 0.00 |
mUSD Non-recurring Earn H1'2026 Total | (6.06) |
mUSD Non-recurring New Bets H1'2026 Total | 0.00 |
mUSD Non-recurring Other H1'2026 Total | 0.00 |
mUSD (DAO Expenses - non-recurring) H1'2026 Total | (6.06) |
mUSD Total Results (DAO + Foundations) H1'2026 Total | (4.45) |
mUSD Staking Product Result H1'2026 Total | 6.73 |
mUSD Earn Product Result H1'2026 Total | (7.12) |
mUSD New Bets Product Result H1'2026 Total | (0.91) |
mUSD Product Results (DAO + Foundations) H1'2026 Total | (1.30) |
The Lido Foundations are committed to publishing comprehensive quarterly and annual reports to the Lido DAO (see H1, 2026 and Lido DAO reports page). Furthermore, it should be noted that all the Lido Foundations as non-profit organisations route any and all revenue from its operation to Lido DAO, with their sole source of funding being the DAO grant funding. |
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Lido is solely responsible for the content, accuracy, and legality of its disclosures.
