Lido Vote For Proposal To Deploy V2 On Ethereum Network

Key Points:

• The Lido community is participating in voting on a new proposal to implement version 2 on Ethereum.
• V2 is the “most significant upgrade to date” since its launch in December 2020, with 2 focuses on enabling ETH staking withdrawals and introducing the Staking Router.
• Voting closes on May 15 with the expectation of passing.

According to the official announcement, the Aragon Vote to implement the Lido V2 upgrade on Ethereum is currently taking place.

The DAO Aragon vote for the V2 upgrade of the Lido protocol is scheduled to be released on May 12 at 14:00 UTC. If you have the technical ability, please check for yourself whether the proposed initial parameters are suitable for you and in accordance with the mentioned contracts.

As mentioned earlier, Lido calls v2 “the most important upgrade to date” since its launch in December 2020, as Ethereum is Lido’s first and largest marketplace for liquidity staking tokens.

With two main focuses, ETH staking withdrawals and the introduction of a “Staking Router” that is supposed to boost participation from a more diverse pool of node operators, v2 on Ethereum comes when Lido leads the way as the most liquid staking platform in the DeFi space, with a total value of $11.77 billion locked on the Ethereum ecosystem, according to DefiLlama.

According to the protocol’s share, the withdrawal implementation along with the Staking Router proposal will contribute to the strengthening of network decentralization. The Lido protocol is healthier and allows staking and staking (withdrawal) to solidify stETH as the most useful and composable asset on Ethereum.

Staking routers will open the door for external developers to contribute to the protocol. Developers can recommend + no-composed implementation with their preferred characteristics and parameters (fee, security, or collateral options).

Voting ends on May 15. If the governance vote passes, the latest version of this protocol will come to the Ethereum blockchain.

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.

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