January 15th decentralized platform Lido Launched staking ethereum for philanthropists called Lido Impact Staking (LIS).
LIS users can lock ETH, as well as stETH and wstETH digital assets issued instead of staking coins. As with regular staking platforms, LIS clients earn passive income, but unlike standard platforms, they have the opportunity to transfer part of the reward to the crypto wallets of public institutions, decentralized organizations, and activists implementing initiatives that are beneficial to society.
Cryptocurrency can be donated, for example, to fight hunger, poverty and environmental pollution.
We need new financial instruments to solve large-scale problems. The concept of Impact Staking changes the very essence of philanthropy, because instead of giving away their money, philanthropists can donate a portion of the staking income to charity.
This is a new source of funding that has real-world impact and that people can use, said LIS founder Jaideep Kord.
Since the launch of the service, LIS has locked Ethereum worth only $84,828. The new platform's low popularity is likely due to its not-so-high staking yield, which is 2,9%. On competitors' platforms, such as InceptionLTR and Meta Pool, stakers earn up to 3,97% per annum.
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Currently, LIS only features two charity initiatives, GiveDirectly and Treedom, which aim to help the poor and restore forests, respectively. However, in the future, the platform will feature other projects, as LIS management plans to start collaborating with various foundations and non-profit organizations.
