🌊
Liquid StakingEthereumDeFi
Lido V2: Native Unstaking for stETH
+110 XP · 9 min read · Updated March 2026
TVL
$28B
APY
~3.5%
Token
$stETH
Chains
Multi
Share
32% ETH staked
Rating
⭐ 4.8
What is Lido V2?
Lido V2 upgraded Ethereum's largest liquid staking protocol with a critical feature: native stETH-to-ETH withdrawals. V1 required selling stETH on DEXes to exit (with slippage). V2 introduced a withdrawal queue that processes redemptions directly from the Ethereum beacon chain, achieving true 1:1 parity between stETH and ETH.
How to Use Lido V2
1
Stake ETH → stETH
Deposit any amount of ETH and receive stETH. Unlike V1, V2 has a modular node operator registry (NOR) improving decentralization.
2
stETH Rebases Daily
Your stETH balance increases every 24 hours as Ethereum validator rewards are distributed. No claiming required.
3
Withdraw via Queue
Submit a withdrawal request to convert stETH → NFT withdrawal voucher. When processed (1-3 days), claim your ETH 1:1.
4
Use stETH in DeFi
Deploy stETH as collateral in Aave, curve stETH-ETH pool, or as wstETH in cross-chain DeFi for compounded yield.
Risks to Consider
- Centralization concerns — Lido controls 32%+ of staked ETH
- Smart contract risk in complex upgrade
- Withdrawal queue can be slow during high demand
- Regulatory risk from concentrated staking
- stETH/ETH depeg risk during market stress
Earn +110 XP for reading this guide
Take the quiz to test your knowledge and unlock your XP reward.