Lido DAO’s governance token, LDO, jumped 27% after cryptocurrency exchange Binance announced the token’s listing on the exchange.
The cryptocurrency, which will reportedly list first against Bitcoin, Binance USD, and Tether from 11:00 UTC, jumped from $2.65 to $3.37.
LDO is a governance-based on Lido DAO that enables users to participate in the community voting and decisions seeking to advance the platform.
Lido Finance is a staking solution offering Ethereum 2.0, Terra, Solana, and Kusama services. The protocol allows users to take LDO tokens to retain control over their staked assets.
Lido is ranked as the second-biggest decentralized Finance protocol, with more than $15 billion in the total value locked. $10 billion of the TVL is based on Ethereum, while $5 billion is in Terra.