The previous chapter set theoretical foundations of mechanism design in the context of blockchain-based token ecosystems. How their practical application is evident in the workings of already operational token protocols will be now demonstrated through a case study. Its focus will be ‘Lido’ [1], which is currently one of the top DeFi projects (by token market capitalization) in the ‘Liquid Staking’ category [2]. As in the previous case study, we begin with the closest analogues to Lido’s business case from traditional finance in order to help the reader interpret its main transactional pathways, as only then can mechanisms be properly identified and examined for consistency. Project documentation will be used to identify them and to interpret them as design choices.