News

Lido DAO Begins Voting On The Proportion Of Ethereum 2.0 Staking Pool

Members of the Lido DAO are voting on whether this liquidity staking protocol should reduce the weight of the Ethereum 2.0 staking pool.

Purpose of Lido DAO’s vote

The debate was triggered by concerns that Lido‘s dominance of the ETH2 staking pool would pose a security risk to Ethereum after The Merge. Critics, including Ethereum Foundation researcher Danny Ryan, have argued that Lido’s dominance combined with the platform’s governance structure is a potential risk worth noting.

To resolve this issue, a vote has been set up:

  1. If you feel Lido should self-limit & staking weight, please vote “yes, let’s self-limit”. If this option is widely agreed upon, we will go to a second vote on the details.
  2. If you feel Lido shouldn’t limit himself, please vote “no, don’t self-limit”.

Voting began at 9 AM (UTC) on June 24 and ended at 9 AM (UTC) on July 1, following a month-long debate among community members. According to Dune Analytics, Lido currently holds more than 31% of the total staking on Ethereum 2.0’s Beacon Chain.

Source: Dune Analytics

Lido Finance is a flexible staking protocol. Emerging because the project allows users to lock ETH to participate in the Ethereum 2.0 upgrade. In return, users will receive stETH and can ultimately bring this token to make transactions on other DeFi platforms such as MakerDAO, Aave…

With the current market situation being unpredictable, the specter of layoffs is looming over many of the top exchanges. On the side of Lido, the DeFi platform that once achieved the highest TVL in the cryptocurrency industry recently proposed to sell 10,000 ETH from the project’s general fund to cover operating costs in the next 2 years.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News

Victor

Recent Posts

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

26 mins ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

1 hour ago

BlockDAG X1 App Receives Huge Response From Community, Hiting Over 200K Users! Latest on Bitcoin & Chainlink Prices

Want to learn about Bitcoin and Chainlink's prices? See why BlockDAG with its X1 app…

1 hour ago

Bitcoin Mining Difficulty Tops 100T Hash for the First Time

New ATH for Bitcoin’s average hashrate, combined with Bitcoin mining difficulty surpassing 100 trillion hashes,…

2 hours ago

US Presidential Election Drives Bitcoin Price Back to $70,000

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

3 hours ago

Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

NY, United States of America, 5th November 2024, Chainwire

3 hours ago

This website uses cookies.