Lido DVT Testnets with ObolNetwork and SSV Network

**Lido has achieved a perfect 12/12 score** on Aragon's Token Ownership Index, demonstrating strong tokenholder governance. **Key developments:** - Tokenholders maintain exclusive control over treasury allocations - LDO Accumulation Program underway with 471 stETH deployed in Batch #1 - Current batch closes May 29 - Automated buyback proposal passed via Snapshot vote - Onchain implementation scheduled for July The Token Ownership Index measures how much control tokenholders actually have over protocol decisions and assets. Lido's perfect score indicates tokenholders retain full authority over treasury management. [View announcement](https://x.com/LidoFinance/status/2057119256928542748)

**Financial Performance** Every quarter through Q1 2026 closed with a surplus, marking consistent profitability. **Key Metrics** - DAO Take Rate reached an all-time high of **6.10% in May** - Up from 4.96% in December, representing a **23% increase** - April results remained flat due to a one-time **$5.7M contribution to DeFi United** The steady quarterly surpluses demonstrate sustainable operations, while the rising take rate indicates improved revenue capture from protocol activity.

**KelpDAO Exploit Resolution Complete** A LayerZero bridge exploit left rsETH underbacked by over 100,000 ETH, directly impacting Lido's EarnETH vault with approximately $20M in rsETH exposure. **Community Response** - The 'DeFi United' initiative successfully raised 132,000 ETH to address the rsETH shortfall - Lido DAO contributed 2,500 stETH to the recovery effort - EarnETH's first-loss protection mechanism burned 144 ETH to fully cover user funds **Current Status** After 27 days of being frozen, the EarnETH vault is now operating normally. All affected users have been made whole through the combined efforts of the DeFi United initiative and Lido's protection mechanisms. The incident demonstrated the effectiveness of Lido's first-loss protection framework and the broader DeFi community's ability to coordinate recovery efforts during protocol exploits. [Full details](https://x.com/LidoFinance/status/2057452890281640296)

**Market Status** ETH has remained flat at $2,120 for several months with no significant price movement. **Staking Dynamics** - Total ETH staked increased faster than anticipated - Growth primarily driven by institutional players Grayscale and BitMine - Entry queue extended to over 50 days since late January **Behavioral Shifts** The 'APR Maxi' segment (yield-focused stakers) decreased from 16% to 10% of the market following the KelpDAO incident. This suggests a more cautious approach among aggressive yield seekers. **Network Activity** Last month saw 84,300 ETH issued versus only 4,100 burned, indicating the network remains inflationary despite renewed staking interest. L2 dominance continues to suppress mainnet activity and fee burn.

Lido Foundation held its May 2026 tokenholder update, covering several key operational areas: **Financial Performance** - Q1 2026 financial results and profitability metrics shared - Token buyback program progress detailed **Security & Operations** - Impact assessment of the KelpDAO exploit on Lido's ecosystem - Current security posture and protective measures outlined **Market & Strategy** - Analysis of current market conditions - Tokenholder alignment initiatives and next steps The update follows a similar briefing format from March 2026, maintaining regular communication with the Lido community on protocol performance and strategic direction.