Lido vs Veda

Lido is the largest liquid‑staking protocol, minting stETH and other LSTs that track underlying validator balances 1:1 minus a 10 % reward fee. Its dual‑dao governance splits responsibility between the Lido DAO and the protocol’s Node Operator Registry, reducing centralisation risk. By May 2025 over 9 million ETH—roughly 30 % of staked supply—was custodied under Lido smart contracts.

Veda tokenises DeFi strategy vaults as ERC‑4626 ‘vTokens’ that stream strategy yield directly to holders. Vault managers can plug into Veda’s automation network to rebalance positions and roll over expiring perps without gas overhead. Early vaults include principal‑protected ETH‑BTC basis trades and leveraged stETH/ETH LP positions.