On May 15, the Lido Finance liquid staking platform team rolled out the second version of the protocol following a successful community vote.
Following a successful on-chain vote, Lido V2 is officially here.https://t.co/36EmuagToD
— Lido (@LidoFinance) May 15, 2023
Update received 100% support.
The main points in the protocol update to Lido v2 were:
- the ability to withdraw Ethereum from staking by burning stETH in a ratio of 1:1;
- the launch of a staking router (Staking Router), which is designed to diversify the set of validators and promote further decentralization.
A number of other changes, including updates to the Oracle smart contract and back-end off-chain software, aim to support two new key options.
Lido v2 has passed several security audits by Sigma Prime, ChainSecurity, Oxorio, Statemind, HEXENS, MixBytes() and Certora.
“This Lido update made the protocol on Ethereum fully functional, allowing the withdrawal of funds from stETH to Ethereum, and opened up opportunities for experimentation and collaboration with the Staking Router architecture,” the developers said.
According to the dashboard on Dune Analytics, over 20 million ETH is locked in staking. The share of Lido is 31.3% with 6.3 million ETH.
Ethereum developers have opened the possibility of withdrawing assets from staking with the activation of the Shapella hard fork on April 13th.
Recall that on May 9, the Lido team announced the launch of the second version of the protocol based on the results of a three-day voting, which started on May 12.
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