Lido is a family of liquid staking protocols across multiple blockchains, with headquarters on Ethereum. Lido let stakers involved in lending activity to gain yield on top of yield. Its involvement in lending contradicts with the Shariah's rulings. We classified Lido DAO ecosystem as Non-Shariah compliant
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on the blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal" | Passed |
| Project | Lido is a family of liquid staking protocols across multiple blockchains, with headquarters on Ethereum. Lido let stakers involved in lending activity to gain yield on top of yield. Its involvement in lending contradicts with the Shariah's rulings. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The LDO token can be used as a governance token. LDO token holders are granted voting rights within the Lido DAO. The more LDO locked in a user's voting contract, the greater the decision-making power the voters get. | Passed |
| Staking Method | Lido uses staking protocols that allow users to earn staking rewards without locking assets or maintaining staking infrastructure. This protocol contradicts with Shariah's ruling where the staking methods are locking the assets for staking process. | Grey |
Read the source document and verify project fundamentals.