Lido Community Starts Voting for Lido on Ethereum V2 Upgrade

The Lido community has started voting for the proposal regarding the Lido on Ethereum V2 upgrade.

The vote, which ends on March 7th at 18:00 UTC, aims to get signal approval of the design for the Lido V2 upgrade. The execution of the upgrade will require a subsequent on-chain vote, which will take place closer to the time of the Ethereum Shanghai upgrade. The on-chain vote will include all the parameters related to the V2 upgrade.

The Lido team released the V2 upgrade proposal last month. The two major focal points of this upgrade are the introduction of the Staking Router architecture and the unlocking of $stETH withdrawals.

The Staking Router introduces a modular architectural design, which allows the development of on-ramps for new node operators and allows Lido to become an extensible protocol.

The upgrade will also enable Lido users to unstake their $stETH and receive $ETH at a 1:1 ratio for their staked $ETH. Lido's withdrawal mechanism will have two modes, Turbo and Bunker.

Lido said that the Lido on Ethereum protocol team is doing all it can to make sure the protocol upgrade is secure and issue-free, including conducting thorough security audits, performing formal verification, and extensively testing on Goerli.