Lido Staked ETH

Lido's website (interface) terms are governed by Cayman Islands law.

“You agree that the laws of the Cayman Islands, without regard to the principles of conflict of laws, govern these Terms.”

To get ETH back, a holder can use Lido's withdrawal queue or sell stETH on the secondary market.

“To withdraw the underlying ETH back, a user may use the WithdrawalQueueERC721 contract or swap the token on the secondary market (it may be a cheaper and faster alternative).”

Deposits are possible only while the protocol is not stopped and bunker mode is not active.

“Depositing is allowed when the protocol is not stopped and bunker mode is not active.”

Submitted ether sits in a buffer and is used for withdrawals or deposited as validator stake.

“Submitted ether is accumulated in the buffer and is later used to fulfill withdrawal requests via WithdrawalQueueERC721 or pulled by StakingRouter to be deposited as a validator stake.”

stETH is minted when ether is submitted and burned when it is redeemed.

“Tokens are minted upon ether submission and burned when redeemed.”

Lido's own address list marks the stETH contract as a proxy, so its code can be replaced.

“Lido and stETH token: 0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84 (proxy)”

Lido's website (interface) terms may be changed at any time without notice.

“From time to time and at any time, the Terms may be changed, amended, or revised without notice or consultation.”

Lido's CircuitBreaker allows an emergency pause without a full DAO vote.

“The CircuitBreaker allows emergency pausing without a full DAO vote.”