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It was introduced in 2020 on the Lido protocol, anticipating Ethereum's shift to proof-of-stake.

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It is a part of the Lido decentralized finance (DeFi) project, which enables users to earn rewards from staking without needing to run their own Ethereum 2.0 validator nodes.*The Lido Project*Lido is a decentralized Ethereum 2.0 staking solution.

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