How to use
- Set the Lido TVL, ETH staking APR, protocol fee, and ETH price.
- The three cards show effective staker APR, dollar yield per 1 ETH per year, and DAO treasury revenue.
- The bar chart visualizes the annual reward distribution between stakers, node operators, and the DAO.
- The table breaks down ETH/year, $/year, and share of rewards for each recipient.
- The result block summarizes the total annual reward pool flowing through the protocol.
- The default state reflects April 2026 mainnet conditions: ~8.72M ETH TVL, ~3.0% base APR, $2 300/ETH spot, 10% protocol fee.
Calculator
| Recipient | ETH / year | $ / year | Share of rewards |
|---|
Formulas
Gross reward stream — total ETH the network mints to all Lido stakers per year, before the protocol fee. Linear in staked volume and base consensus yield.
- TVL — total ETH staked through Lido
- APR — base annual ETH staking yield (% / year)
- Gross — gross reward stream (ETH/year, computed)
The Lido fee is taken from the reward stream, not from principal. Stakers keep the remainder. Default f = 10%, but the protocol can change it via DAO vote — the slider models a 0–25% range.
- Gross — gross reward stream (ETH/year)
- f — Lido fee (% of rewards)
- Fee — total protocol fee (ETH/year, computed)
- Staker — what stakers keep (ETH/year, computed)
Curated module fee split — even between node operators and the DAO treasury. After Staking Router went live the split varies by module (Permissionless 3.5/6.5, Super Clusters 5/4, ICS 6/4), but Curated remains the baseline case and dominates by deposit share.
- Fee — total protocol fee (ETH/year)
- NodeOp — half of fee to node operators (ETH/year, computed)
- DAO — half of fee to DAO treasury (ETH/year, computed)
Effective staker APR — base yield reduced linearly by the fee. At f = 10% the effective APR equals 0.9 × APR. This is the yield the stETH holder actually observes through daily rebasing.
- APR — base annual ETH staking yield (% / year)
- f — Lido fee (% of rewards)
- APR_eff — effective staker APR (% / year, computed)
Annual dollar yield per 1 ETH staked. Useful for comparing Lido against solo staking or alternative yield sources in the same unit. Headline figure for retail investors.
- APR — base annual yield (% / year)
- f — Lido fee (% of rewards)
- Price — market ETH price ($)
- Staker_$/ETH — annual yield per 1 ETH ($/year, computed)
Annual dollar revenue of the DAO treasury — linear in all four parameters. This is the budget funding development, grants, the insurance reserve, and audits. The key sustainability metric for the protocol under the Curated baseline.
- TVL — total ETH staked through Lido
- APR — base yield (% / year)
- f — Lido fee (% of rewards)
- Price — ETH price ($)
- DAO_$ — annual treasury revenue ($/year, computed)
DAO revenue sensitivity to fee
Holding TVL = 8.72M ETH, APR = 3.0%, and Price = $2,300 fixed, gross flow = $601.7M/year; half of the fee is the DAO revenue:
| Lido fee | Effective APR | DAO treasury revenue / year |
|---|---|---|
| 0% | 3.00% | $0 |
| 5% | 2.85% | $15.0M |
| 7% | 2.79% | $21.1M |
| 10% (baseline) | 2.70% | $30.1M |
| 12% | 2.64% | $36.1M |
| 15% | 2.55% | $45.1M |
| 20% | 2.40% | $60.2M |
Each percentage point of fee shifts annual DAO revenue by approximately $3.0M at current market parameters. Cutting from 10% to 5% halves treasury income; raising to 15% adds 50%. The symmetry makes any fee-switch debate inside the DAO directly measurable in dollars.
Model limitations
The calculator deliberately reduces Lido’s economy to the dominant cash flow and does not model MEV uplift (real validator APR with MEV-Boost rises to 3.5–4.0%), slashing losses (~single-digit bps of TVL per beaconcha.in), stETH/ETH peg discount on secondary markets, ETH price feedback from staking, or the real aggregate fee split across Curated, Permissionless, Super Clusters, and ICS — Lido publishes the breakdown quarterly and the default approximates Curated 5/5.
Default parameter sources: DefiLlama (TVL ~8.72M ETH), StakingRewards (APR ~3.0%), CoinGecko (Price). For protocol mechanics in depth, see the official Lido docs.