Full release of Lido V2
Lido Finance (LDO), the largest liquid staking protocol, today announced plans for its next upgrade, Lido V2.
Implementation of withdrawal function of crypto asset (virtual currency) Ethereum (ETH) and important function update for network decentralization are planned.
Ethereum plans to implement a large-scale upgrade “Shanghai” from March to April 2023. At the time of writing, 16.35 million ETH (equivalent to approximately 3.6 trillion yen) locked up in the staking contract and staking rewards will be available for withdrawal for the first time.
Lido is the leading provider of “liquid staking” that manages alternative assets (stETH) while receiving Ethereum staking rewards. It accounts for (29%: 4.83 million ETH) of the total number of Ethereum stakes.
Withdrawals:
Enabling stakers to unstake their stETH and receive ETH at a 1:1 ratio.
Withdrawals for staked ETH will provide a smoother staking experience for users and boost the usability of stETH across the DeFi space.
For more info: https://t.co/XN4AZwtBIh pic.twitter.com/V9zltf2ER5
—Lido (@LidoFinance) February 7, 2023
The ETH withdrawal method proposed by Lido is the default setting “turbo” mode, which allows for the fastest withdrawal, and the “bunker” mode, which is activated in an emergency when a large number of slashes (ETH2.0 penalty) occur. There is
In the future, once the LidoDAO (Decentralized Autonomous Organization) passes this proposal, users will be able to unstake their stETH and receive ETH at a 1:1 ratio. The schedule for community voting and implementation of the withdrawal function will be optimized based on the progress of Ethereum’s Shanghai upgrade.
connection: Lido ETH withdrawal method to be voted for Shanghai
Implementing a staking router
Another highlight of Lido V2 is the implementation of a “staking router”.
Lido was originally launched in collaboration with the industry’s leading staking providers, and the protocol has 27 node operators (for ETH Lido) as of the end of Q3 2022. Additionally, the addition and removal of node operators has been managed through submissions to the LidoDAO and community voting.
The Staking Router is such a big deal, it’s hard to overstate.
It means anyone will be able to make a new module for receiving user stake and putting it to work.
Solo staking and DVT are coming to Lido! pic.twitter.com/KeOASQEEdW
— Hasu
License.
