Lido: New year rhymes with new update!

Lido Finance is an Ethereum liquid staking platform. Its primary purpose: to fight centralized staking platforms and simplify the process of running individual staking nodes. In order to achieve these goals, Lido will soon be upgrading its platform. The details of this Lido update were made public on February 7.

Lido Update: Focus on Unlocking Ethereum Withdrawals

One of the key elements of this new Lido update is the unlocking of Ethereum withdrawals. This is also the main point of interest for users of the platform. With this update of Lido, the decentralization of its network will improve considerably. Same with pre-Shanghai withdrawal processes.

The new feature will also allow users to:

• withdraw their stETH;
• receive ETH in a ratio of 1:1 for Ether;
• receive the benefits of switching from Ethereum to a PoS consensus algorithm without having to hold 32 Ethereum to become a staking validator on the network.

As explained on the blog from Lido, withdrawals on the Lido platform will be made in two modes: Turbo and Bunker. Turbo mode guarantees fast operation. Bunker mode, on the other hand, requires a certain waiting time.

The staking router, another essential point

The introduction of the staking router is also among the essential elements of the new update from Lido. Its main objective is to diversify the set of validators.

As a reminder, Lido uses a singular NodeOperatorsRegistry. Concretely, a DAO sorts the node operators and integrates them into a smart contract (also called a “smart contract”). The staking router will therefore become the collaboration center for stakingrs, developers and node operators.

Users will have to wait before enjoying new Lido updates. Indeed, they will have to obtain the approval of the decentralized autonomous organization (DAO) of Lido Finance. Debates are already well under way on the impact of this upgrade. To be continued…

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