Lido Launches Swap Feature Across Ethereum, Arbitrum and Base

Lido launched a Swap feature on November 6, according to the announcement report. The feature works on three networks: Ethereum, the Arbitrum layer 2 network and the Base layer 2 network. The protocol's governance token is Lido DAO Token (LDO).

What Lido Announced

Lido named the feature Swap and said it supports Ethereum, Arbitrum and Base from the start. The feature is live now on the three networks. A swap feature lets users exchange tokens inside the product interface instead of sending funds to an outside exchange. The liquid staking protocol has not published a fee schedule, routing details or supported token pairs. Lido has not yet released full technical documentation for the feature in the sources reviewed by Coinranking News, so parts of the design remain unconfirmed.

Where It Works

Arbitrum and Base are layer 2 networks that settle their transactions to Ethereum. Launching on all three networks means the feature follows Lido users where the protocol's staking products already circulate. Lido issues stETH, a liquid staking token for staked ETH, along with a wrapped version of it. Those tokens are common across Ethereum and its layer 2 networks, which is where a built-in swap feature is most useful. Base is the Ethereum layer 2 network built by Coinbase, and Arbitrum is a long-running rollup on Ethereum. Swap works the same way on all three networks, according to the report.

Lido's Product Line

Lido started as a liquid staking protocol: users stake ETH and receive a liquid token in return. Its product line has since grown, and Swap is the newest entry. LDO traded near $0.33 on November 6, according to the Lido DAO Token price chart on Coinranking. As one of the long-running DeFi coins, LDO also works as one of the DAO tokens that steer governance votes, so holders can weigh in on how features like Swap evolve.