The Lido Finance liquid staking platform team announced the launch of the second version of the protocol on May 15 after a three-day vote on the proposal. Lido v2 will open the possibility of redeeming stETH for Ethereum.
A Lido V2 update:
The final on-chain vote for the V2 upgrade is scheduled for this Friday, May 12th.
If no last-minute findings are surfaced and the vote is successful, Lido V2 will be live after the vote enactment on May 15th 🏝️
— Lido (@LidoFinance) May 8, 2023
Initially, approximately 270,000 ETH will be available in the platform’s storage, which will allow withdrawal requests to be processed without the lengthy process of validators going off the network.
According to the developers, the upcoming upgrade will be the largest in the history of the protocol, representing an important step towards decentralization.
The project team will also launch a staking router (Staking Router), a new modular architecture that allows market participants, including solo stakers, to become node operators.
Earlier, Glassnode analysts recalled the promise of the Lido Finance team to stake the received rewards again.
In April, the volume of locked assets in the protocol exceeded $12.7 billion after the Shapella hard fork.
Source: Cryptocurrency
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