Recently, Lido cooperated with MixBytes to successfully launch Polkadot, providing DOT holders with a liquid staking solution. Users can enter Moonbeam Network, stake their DOT through Lido to obtain staking rewards, and gain many opportunities in Moonbeam or the broader Polkadot DeFi ecosystem. For details about Lido’s products in Polkadot, please visit: Stake with Lido | Lido .
Lido's liquid staking service allows Polkadot ecological users to stake DOT to obtain daily rewards, and can release or re-stake at any time. This allows users to maintain the liquidity of pledged assets while staking assets, and consolidates the security and stability of Polkadot. When users pledge DOT through Lido, they will obtain liquid DOT that can represent the pledged DOT, that is, stDOT. stDOT is a flexible supply Token like stETH. It will continue to accumulate rewards without waiting for binding delays, and can be sold at any time without waiting for unbinding time, and without the risk of slashing. The reward will be maximized through dynamic deployment to select the DOT validator node with the greatest benefit.
In addition, stDOT can take advantage of Moonbeam's DeFi ecology (such as staking DOT on Curve as collateral for a stable pool) to obtain additional income. When you transfer DOT on Moonbeam, the xcDOT (cross-chain DOT) and stDOT after you transfer to Moonbeam ecology belong to XC-20 Token , just like the ERC-20 standard Token with cross-chain function version. These Tokens can be used in applications on Moonbeam and all applications connected to Polkadot’s parachains. For example, xcDOT can be directly transferred or displayed through the address in the MetaMask Ethereum format.
Lido landed on Polkadot through Moonbeam, the smart contract platform on Polkadot . After its launch, Moonbeam quickly became the platform of choice for protocols that want to have multi-chain deployment, which allows applications to take full advantage of its cross-chain interoperability inside and outside Polkadot. All of this is due to the full compatibility of Ethereum provided by Moonbeam, which not only allows new users to use familiar wallets such as MetaMask and their existing Ethereum addresses to easily use multi-chain applications like Lido.
Staking DOT on Lido only takes a few simple steps. The following tutorials are for your reference:
Transfer your DOT to Moonbeam
Stake your xcDOT (convert xcDOT to stDOT)
Unstake your stDOT (convert stDOT to xcDOT)
Package or unstake your stDOT/wstDOT
For more details about Lido on Polkadot, please refer to the document on Lido on Polkadot .
About Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build native interoperable decentralized applications. The Ethereum compatibility feature allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Moonbeam will build on the success of its sister parachain Moonriver on Kusama, amassing developer and user activity from over 100 projects building DApps and protocols on the network. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and the interoperability advantages of linking other Polkadot chains.
For more information, please click: Moonbeam | Polkadot Smart Contract Platform
More Moonbeam information
Official website: Moonbeam | Polkadot Smart Contract Platform
Weibo: Sina Visitor System
twitter: https://twitter.com/MoonbeamNetwork
Telegram: https://t.me/moonbeam_CN
Discord: https://discord.gg/ skPfXvJWG7
Chinese telegram group assistant: @MoonbeamSister