What are Liquid Staking Derivatives (LSDs)?
These aren't the mind-altering kind! LSDs in crypto stand for Liquid Staking Derivatives. Think of them as certificates that represent your ownership of something bigger. In this case, the certificate (LSD) shows that you have crypto staked in a DeFi protocol (a special kind of online financial service). The LSD itself can sometimes be traded or used in other DeFi applications.
