Is lido a Dapp?

Could you clarify for me if Lido is indeed a Decentralized Application, or Dapp, as some suggest? I've been hearing a lot about it recently in the crypto circles, and I'm trying to wrap my head around its functionality and classification. Is it built on a blockchain, allowing users to interact directly with the smart contracts without any centralized intermediary? And does it offer some sort of service or utility that's decentralized in nature? Your expert insight would be greatly appreciated in helping me understand this emerging trend better.