Lido is a liquid staking solution for Terra (Luna). Lido lets users stake their Luna without locking assets or maintaining infrastructure whilst participating in on-chain activities, e.g. lending. Lido's goal is to solve the problems associated with Luna staking - illiquidity, immovability, and accessibility - making staked Luna liquid and allowing to improve the security of the Terra network.

bLuna is a liquid and tradable token that represents staked Luna in Lido. When staking with Lido, users receive bLuna tokens on a 1:1 basis representing their staked Luna. bLuna balance can be used to earn yields and lending rewards.

There are two ways of converting bLuna back to Luna:

• Unbonding. The unbonding process is when Luna tokens are undelegated from a validator and user gets Luna tokens while his bLuna tokens are burnt. The process takes 21 days.
• Selling bLuna on Terraswap/Astroport.