There has been continuing volatility and further significant movements of the stETH:ETH exchange rate again today.
While the discount on stETH on secondary markets is ~5% at the time of writing, Lido continues to operate normally.
These large swings are, in most cases, linked with the specific liquidity needs of certain market actors - they are not tied to the fundamentals of stETH or the value of the underlying assets.
All stETH issuances are verifiably backed 1:1 by ETH deposits on the Beacon Chain.
We continue to run risk management and collateral monitoring on the most popular DeFi integrations 24x7x365 and share that data openly in real time with the community.
The proposal outlines a dual (LDO + stETH) governance model, where stETH holders have a veto to prevent the execution of the outcome of any Lido DAO vote within a selected scope.
At the same time the proposal seeks to further minimise governance in the protocol.
You can find more information about the proposal and join the discussion on Lido's governance forum: