Lido

139 net-new node operators have been chosen to join the Lido protocol through the @ObolNetwork onboarding, marking a significant increase. Out of 195 testnet participants evaluated, 161 have been selected across various categories. These candidates demonstrated strong performance and reliability. The selected operators will run nodes in 36 countries using diverse infrastructure. Over 250 new Node Operators are expected to run DVT based validators in the first few months, representing a 700% increase. More stakers are anticipated to be proposed after the @SSV_Network testnet concludes. Interested parties can apply for the next testnets scheduled for March.

Lido has introduced the 'Community Staking Fleet Pilot,' a program aimed at supporting communities interested in expanding their Ethereum staking knowledge. Through collaborations with Lido Community Lifeguards, interested communities will receive assistance with workshops, setting up validators, hosting events, and creating content. The program, linked to @LidoGrants, offers grants to fund community initiatives like workshops, events, and infrastructure improvements. Those interested in participating can reach out to learn more.

As of February 28, 2024, 26% of the ETH supply has been staked.

Lido's TVL increased by 8.74% to $30.7b. Over 21,984 ETH deposited through Lido. stETH 7d APR at 3.37%. Notable (w)stETH trading volume at $1.16b. wstETH to L2 up by 1.02% to 142,501 wstETH.

Parallel Network and Lido Finance have partnered to introduce stETH deposits and native staking to Parallel Network's omni-chain L2.

stETH deposits are now live on the ZircuitL2 mainnet platform.

The latest update in the Lido Community Staking series discusses the reward distribution for operators using Lido protocol, focusing on validator and bond rewards smoothing between modules to reduce disparity. Performance Threshold is introduced for rewarding validators based on their performance, discouraging free-riding. Additionally, strategies to address potential MEV stealing involve temporary bond locking with penalties enforced through on-chain governance. Stay tuned for upcoming content on Stake Allocation & Validator Exits/Ejections.

1inch has been introduced as the latest Lido withdrawal aggregator, offering instant swaps between stETH/wstETH and ETH. It is a DeFi aggregator optimized for various chains and guarantees the best rates by aggregating prices across numerous DEXs.

The Q4 report reveals that 6 additional Node Operators completed their onboarding. Most Node Operators are now below the soft cap of 1%. The usage of the Geth client fell from 76% to 67% in Q4. More Node Operators are committing to reducing reliance on the supermajority client. All new onboarders from Wave 5 have completed their infra setup. A new section on network credible neutrality and censorship has been added to the report.

The Lido testnet on Goerli will no longer be supported after February 29th, 2024. Withdraw (w)stETH before this date. Testnet activities will move to Holesky where a new Lido testnet is operational.