Lido

Lido, a liquid staking solution for Ethereum, has announced several updates to its validator set for the month of April. The updates include the activation of Simple DVT, a request for proposal regarding the integration of CSM and SDVTM, the launch of the Community Lifeguard Initiative, the release of the VaNOM Report for Q1/2024, the renewal of GateSeal, and the introduction of the Community Staking Module.

Lido has announced that the first batch of Simple Distributed Validator Technology (DVT) validators on the platform, provided by SSV Network, are now active on the Ethereum mainnet. This follows the successful completion of the Lido x SSV testnet, where the aggregate validator performance exceeded all benchmarks set. In the coming weeks, selected participants from the testnet will be onboarded to the mainnet Lido Simple DVT Module, leveraging SSV's technology. The Simple DVT Module aims to onboard up to 250 new Node Operators to the Lido protocol, enhancing decentralization and resilience. The testnet featured 163 participants from 32 countries, including solo stakers, community stakers, and professional node operators. The aggregate results surpassed the required benchmarks for uptime, block proposal success rate, and attestation effectiveness. Lido and SSV Network will present a proposal to the Lido DAO, suggesting which clusters and participants should proceed to the mainnet.

The use of the Geth client among Lido validators has decreased from 93% to 46% since 2022, with significant progress made in the last three quarters. Community concerns about the supermajority risk in Q4 2023 accelerated the migration and public commitments from multiple node operators. Notable contributors to this effort include Yorick Downe, Kukis Global, Chorus One, and several other node operators. Attestant.io provided valuable insights into diversification options. Further details will be shared in the Q1 2024 VaNOM report.

According to reports, the Ethereum network has reached a significant milestone with 1 million validators actively participating in the staking process. This achievement highlights the growing adoption and decentralization of the network, as more individuals and entities contribute to securing and maintaining the blockchain. The increasing number of validators strengthens the network's resilience and reinforces its position as a leading blockchain platform.

Obol Network has introduced the Techne Credential Program, designed to assess and confirm the knowledge of individuals interested in running Distributed Validator Technology (DVT) nodes on the network. Successful completion of the program is expected to increase the chances of being proposed for onboarding to the mainnet Lido Simple DVT, with many credential holders already proposed and more expected after the next testnet.

The StarkNet Foundation has now granted access for pooled stakers, including those staking via Lido, to claim pending STRK tokens. All eligible recipients, based on staking Ethereum (ETH) up until the Merge on September 15th, 2022, can claim their STRK tokens through the provided link. Lido contributors provided the StarkNet Foundation with a list of active stakers, but had no involvement in determining the eligibility criteria set by the Foundation.

Lido DAO has initiated Vote 174 concerning the extension of the GateSeal expiration date for the WithdrawalQueue and ValidatorExitBusOracle contracts until April 1, 2025. The GateSeal enables a temporary pause of these contracts for 6 days to address potential vulnerabilities. The main voting phase is from April 23-25, followed by an objection phase on April 26. The new GateSeal contract has been deployed and audited, with details provided in the report.

On April 23, 2024, the Arbitrum council unanimously approved the application for Lido's Liquid Toll Incentive Program (LTIPP) on the Arbitrum network. The program aims to simplify the staking process for users on Arbitrum. Further details about the implementation and timeline are expected to be announced soon.

Lido, a liquid staking solution, has updated its withdrawal widget to provide precise estimates for withdrawal completion times. This feature aims to help users evaluate whether to withdraw their staked assets via Lido or instantly swap them using supported decentralized exchange (DEX) aggregators. For more information, users can refer to Lido's Withdrawal FAQ.

The Lido DAO has voted to approve the deployment of the Simple Distributed Validator Technology (DVT) module. This module aims to onboard community and solo stakers to diversify and strengthen the base of Node Operators running validators using Lido on Ethereum. The Simple DVT module allows for participation from solo and community stakers, with expectations for 250 net-new Node Operators to use the Lido protocol to run validators. It supports the battle-testing of DVT technology ahead of more scalable, permissionless modules, enhancing validator resilience, infrastructure, and participant decentralization. The onboarding of Obol Network clusters follows an intensive testnet, and a performance report will be presented to the DAO after 30 days. Additionally, the SSV Network testnet is nearing completion, and a proposal for SSV mainnet participants to be onboarded to the Simple DVT Module will follow.