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DeFi

Lido V2 Almost Completed Important Audit Process

May 11, 2023 - Around 2 mins mins to read

Key Points:

  • Lido DAO has invested a lot of energy in security issues and conducted 9 independent V2 audits.
  • Up to now, 8 of the 9 V2 audits have been completed.
  • The remaining Oxorio audit is expected to be completed by the end of May.
Lido DAO has invested a lot of energy in security issues and conducted 9 independent V2 audits, according to the liquid staking Lido agreement announced on social media.
Lido V2 Almost Completed Important Audit Process
Lido V2 Almost Completed Important Audit Process 2

Thus far, eight of the nine V2 audits have been completed. The audit findings have been published, and all problems have been verified or resolved (e.g. blockchain finalization and claim process, oracle reporting and security checks, overall code consistency, NFT withdrawal logic issues, Vyper compiler bugs, etc.,).

The audits found and allowed the remediation of withdrawal finalization and claim process problems, Oracle reports and safety checks, overall code consistency, and withdrawal NFT logic concerns.

ChainSecurity (Pre-V2 + StakingRouter), SigmaPrime, MixBytes Camp, Hexens, StateMind (GateSeal), StateMind, Certora, and others are among those taking part in the audit. The remaining Oxorio audit should be finished by the end of May.

The Lido DAO governance is also debating a proposal to restore cash that ended up in its execution layer rewards vault after a SushiSwap assault that resulted in a $3.3 million loss last month. The bulk of the cash was lost due to Michael Patryn, also known as Omar Dhanani, an accused serial fraudster and co-founder of QuadrigaCX, which is now insolvent.

As Coincu reported, if the on-chain voting goes smoothly, Lido Finance’s v2 update will be available on May 15. When the withdrawal queue is empty, the ETH in the withdrawal vault is used to fulfill withdrawal requests and staking again.

Following the update, there will be around 270,000 ETH in stock in no time. After the verifier departs the transaction, the original withdrawal request is fulfilled. This implies that withdrawal requests will be handled more quickly in the first three days.

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

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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Lido

Lido DAO

Lido V2

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

Lido V2 Almost Completed Important Audit Process

Key Points:

  • Lido DAO has invested a lot of energy in security issues and conducted 9 independent V2 audits.
  • Up to now, 8 of the 9 V2 audits have been completed.
  • The remaining Oxorio audit is expected to be completed by the end of May.
Lido DAO has invested a lot of energy in security issues and conducted 9 independent V2 audits, according to the liquid staking Lido agreement announced on social media.
Lido V2 Almost Completed Important Audit Process
Lido V2 Almost Completed Important Audit Process 4

Thus far, eight of the nine V2 audits have been completed. The audit findings have been published, and all problems have been verified or resolved (e.g. blockchain finalization and claim process, oracle reporting and security checks, overall code consistency, NFT withdrawal logic issues, Vyper compiler bugs, etc.,).

The audits found and allowed the remediation of withdrawal finalization and claim process problems, Oracle reports and safety checks, overall code consistency, and withdrawal NFT logic concerns.

ChainSecurity (Pre-V2 + StakingRouter), SigmaPrime, MixBytes Camp, Hexens, StateMind (GateSeal), StateMind, Certora, and others are among those taking part in the audit. The remaining Oxorio audit should be finished by the end of May.

The Lido DAO governance is also debating a proposal to restore cash that ended up in its execution layer rewards vault after a SushiSwap assault that resulted in a $3.3 million loss last month. The bulk of the cash was lost due to Michael Patryn, also known as Omar Dhanani, an accused serial fraudster and co-founder of QuadrigaCX, which is now insolvent.

As Coincu reported, if the on-chain voting goes smoothly, Lido Finance’s v2 update will be available on May 15. When the withdrawal queue is empty, the ETH in the withdrawal vault is used to fulfill withdrawal requests and staking again.

Following the update, there will be around 270,000 ETH in stock in no time. After the verifier departs the transaction, the original withdrawal request is fulfilled. This implies that withdrawal requests will be handled more quickly in the first three days.

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

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News