DeFi
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The Lido Finance team has announced the release of a new version of the platform for liquid staking.
Today Lido contributors are proud to present Lido V2 — Lido’s largest upgrade to date and an important step towards further decentralization. https://t.co/SDxlxCgMNq pic.twitter.com/KJewhEp8rV
— Lido (@LidoFinance) February 7, 2023
According to the developers, the upcoming upgrade will be the largest in the history of the protocol, representing an important step towards decentralization.
Lido V2 is centered around two major upgrades:
1) Staking Router: A new modular architecture that allows anyone (incl. solo stakers) to become a Node Operator.
2) Withdrawals: An upgrade allowing stETH holders to withdraw directly from the Beacon Chain.https://t.co/SDxlxCgMNq
— Lido (@LidoFinance) February 7, 2023
Key components of Lido v2:
- Staking Router – a new modular architecture that allows market participants, including solo stakers, to become node operators;
- Withdrawals – stETH holders will be able to release the underlying asset – ETH – from the Beacon Chain (this option will appear after the Shanghai hard fork scheduled for March).
Staking Router:
A major protocol upgrade that transforms the operator registry into a modular and more composable architecture.
With SR, Lido becomes a platform where stakers, developers and NOs can collaborate and drive the future of a decentralized Ethereum together. pic.twitter.com/ZvdCKLCZmZ
— Lido (@LidoFinance) February 7, 2023
“With the staking router, Lido becomes a platform where stakers, developers, and node operators can interact and co-manage the future of decentralized Ethereum.”
The project participants expressed the opinion that the ability to withdraw stETH from staking and receive ETH in return with accumulated rewards will have a beneficial effect on the user experience and the DeFi segment as a whole.
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
Security audits are already underway. The next steps before the deployment of the second version will be voting in the DAO for the proposed innovations, as well as launching the system on the Goerli test network in early March.
Lido leads the DeFi Llama rankings with an indicator TVL in $8.47 billion
Earlier, Ethereum developers launched a testnet to test the withdrawal of ETH from the Beacon Chain.
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