Lido is a staking solution that provides a tokenized version of your staked token while you are staking. This staking derivative token (e.g. stETH) is compatible with DeFi and allows you to simultaneously stake tokens while also participating in on-chain lending or trading.
Lido maintains a set of node operators who are responsible for running the validators that support tokens staked with Lido. The addition and removal of node operators will be voted on by Lido community governance.
In the case of Ethereum, when you stake with Lido your ETH is staked with an operator within this set. This is chosen through a round-robin allocation based on the remaining availability within each validator’s slot. However, given the nature of stETH, it ends up not mattering since rewards and slashings are socialized across all stETH holders.
Lido’s node operators are voted on by the DAO to ensure that the values of node operators are aligned with the values of the Lido DAO. The reputation and past performance history as the best-in-industry of those interested in being operators is important because they are responsible for validating the tokens staked via Lido.
To apply to be a Lido Node Operator, please follow the process outlined below:
- Visit the Node Operator Landing Page
- Submit an application via the Google Forms link for the protocol that you are interested in being a node operator for.
Following successful submission of the above information, the Lido Node Operator Sub-governance Group (LNOSG) will review and evaluate your application and submit a list of recommended applicants to the Lido DAO for approval.
Please note: The Lido DAO is ultimately responsible for all additions and modifications to the Lido Node Operator set; the LNOSG only serves to make proposals.