Thread by @0xFinish

@LidoFinance V2 update is going to be huge!

Here is all u should know about the future of LSDs 💎

Exciting news for all LSD users, Lido is getting a huge V2 update.

This thread will cover all u need to know about upcoming opportunities, changes, and much more, let's dive in 🏄‍♂️

In this thread, we will cover:

1️⃣Lido Recap
2️⃣Key Lido metrics
3️⃣V2 Update
4️⃣Potential Impact
5️⃣How to participate

Before we get into Lido V2, let's do a quick recap of what @LidoFinance is. Lido is a decentralized liquid staking platform on Ethereum, allowing users to stake their $ETH and receive $stETH in return

This token represents staked ETH on a 1:1 basis and can be freely used in Defi

Lido is currently the biggest liquid staking platform with a whopping 31.6% of the market share.

That's why the V2 update is so important because it has a huge impact on the $ETH ecosystem

Lido has also the biggest monthly Validator growth among all platforms.

With the V2 update, those numbers will grow even higher 👀

Now that we're familiar with Lido, let's dive into Lido V2!

This upcoming upgrade aims to enhance the staking experience by introducing a Staking Router architecture and in-protocol $stETH: $ETH withdrawals.

Staking Router Architecture

This design facilitates the integration of new staking modules within the Lido protocol. This means an improved and more efficient infrastructure for processing staking operations.

Everyone benefits from it 🏄‍♂️

Stakers will have their assets distributed across different entities, which greatly improves decentralization and security.

Now additional types of Node Operators DAOs, solo stakers, and small groups could participate in Lido.

Even developers 🪄

Users will be able to propose and implement modules using different node operator compositions and with a variety of competitive characteristics (such as cover options and fee structures) and apply for inclusion into the Staking Router’s module set.

In-Protocol $stETH:$ETH Withdrawals

The Lido V2 upgrade brings a game-changing feature for our stakers - in-protocol $stETH:$ETH withdrawals. This simplifies the withdrawal process, making it more user-friendly and efficient.

Withdrawing with Lido will be much faster, under 1 day for those, who hold less than 1000 stETH, which would take normally take 2-6 days for a standard Ethereum withdrawal

Here is the table with 3 possible scenarios 👇

With so many funds being locked there, security is very important.

Lido had 7 different Audits and testnet with 27 different validators, so the funds must be safe 💎

Here is the most recent security update from @LidoFinance 👇

https://twitter.com/LidoFinance/status/1656364919246188565

The update is about to bring multiple benefits to the user.

With improved security and new staking router infrastructure, the LSD will become even safer and more decentralized.

Moreover with the fast withdrawals small wallets (<1000 $ETH) will get access to almost instant withdrawals 🪄

If u are a big wallet u need to wait a little bit longer but compared to direct staking is still much more agile 🏄‍♂️

The proposed Lido V2 upgrade will undergo a final on-chain vote on May 12th.

If the vote is successful, the upgrade will go live on May 15th, bringing all these exciting new features and improvements to the Lido community.

https://twitter.com/LidoFinance/status/1655656843501355009

Special mentions:

@Louround_
@CryptoKoryo
@IamZeroIka
@arndxt_xo
@rektdiomedes
@thehiddenmaze
@defi_mochi
@0xCrypto_doctor
@crypto_condom
@MacnBTC
@defiprincess_
@milesdeutscher
@LandfSmile
@nobrainflip
@francescoweb3
@Slappjakke
@0xSalazar
@WinterSoldierxz
@the_smart_ape

Tagging some CTs who can't miss Lido Update:

@0xsurferboy
@CryptoStreamHub
@karl_0x
@DefiIgnas
@rektdiomedes
@CryptoShiro_
@crypto_linn
@ardizor
@Defi_Maestro
@LouisCooper_
@defi_mochi
@crypthoem
@TheDeFISaint
@0xTindorr
@DeFiMinty
@0x_gremlin
@wacy_time1
@leshka_eth