CSM gets a makeover ✨

It’s been just under 3 months since CSM went live.

Since then, contributors have worked with Node Operators to uncover how they interact with the interface, pinpoint pain points & map out areas for improvement.

Let’s see what’s changed 👇 1️⃣ Validator Key Statuses

The Keys Dashboard got a major upgrade to make life easier for CSM Node Operators.

Quickly spot any issues with your keys and see exactly what actions you need to take to resolve them 🔑

wstETH is now live on @Starknet!

Users can now bridge their wstETH tokens to Starknet and access the network's growing DeFi ecosystem, all while benefiting from L2’s lower gas costs and faster transactions.

👇 Why bridge to Starknet?

• Lower fees and faster transactions through ZK-Rollup technology.
• Access to Starknet's growing DeFi ecosystem.
• Same security as Ethereum through validity proofs.

The Lido V3 market on @aave has been live for 48 hours and just surpassed $200m in market size 👻

Here's what you need to know 👇 What is it?

The Lido V3 market is the first custom Aave V3 instance, specifically tailored for stETH & wstETH.

The market optimises ETH borrowing dynamics by tuning collateralisation and interest rate parameters in an isolated market.

Introducing Early Adoption for the Community Staking Module 🌐



This initiative will allow a set of independent operators to join CSM on mainnet prior to CSM opening to all, avoiding possible crowding out of capacity by large operators from Day 1.

👇 blog.lido.fi/introducing-ea…
Apart from early access, eligible operators benefit from a special bond curve featuring a discounted bond amount for their first validator, further lowering the entry barrier.

Introducing advanced DeFi strategies for stETH with Mellow & Symbiotic ✨



A new initiative to provide stETH holders with access to new DeFi opportunities, including restaking. blog.lido.fi/advanced-defi-…
In collaboration with @mellowprotocol, @symbioticfi and strategy curators including Steakhouse, P2P, Re7 Labs, and MEV Capital, these vaults offer stETH holders a unique opportunity to explore more paths throughout the Ethereum restaking ecosystem.

📊 Lido Analytics: April 29 - May 6, 2024

• Lido TVL down 3.69% to $29.46b.
• 13,344 net new ETH staked.
• 7d stETH APR at 3.03%.
• wstETH on L2 down -3.16% to 145,905 wstETH.
• (w)stETH 7d trading volume at $1.86b. Lido TVL:

Lido TVL is down -3.69%, to $29.46b, largely due to the drop in ETH prices.

Use of the supermajority Execution Layer client (Geth) across validators on Lido has fallen from 93% to 46% since 2022, with considerable progress made in the last three quarters 📉 While most Node Operators had diversification plans in progress, community concerns about supermajority risk in Q4 2023 expedited the migration and public commitments by multiple node operators from the Lido curated set:

research.lido.fi/t/ethereum-nod…

The Lido Simple DVT Module is here 🌐

72 net-new Node Operators, including solo stakers, powered by @ObolNetwork-based Distributed Validator Technology (DVT), are ready to run validators.

Net-new ETH deposits to Lido on Ethereum will be automatically directed by the Staking Router to the Simple DVT Module until the module reaches the limit of depositable validators (or maximum capacity).



👇blog.lido.fi/simpledvt-new-… Six months ago, the Lido DAO voted to approve the deployment of the Simple DVT module.



The goal? Use Distributed Validator Technology to onboard community and solo stakers to diversify and strengthen the base of Node Operators running validators using Lido on Ethereum.

https://twitter.com/ObolNetwork/status/1720464238920249536

📈 Lido Analytics: May 15 - May 22, 2023

TLDR:
- TVL down 1.95%, to $11.89b.
- Lido upgraded to V2, finalising 453.8k ETH withdrawals without exiting a validator.
- Lido took in 22.7% of total Ethereum staking deposits, with 214.6k ETH.
- wstETH on L2 up +15.92% to 81.2k wstETH. ⚡️ Lido TVL

Lido TVL decreased moderately due to ETH withdrawals being made available following the Lido V2 upgrade.

Currently Lido TVL sits at $11.89b (7d: -1.95%)

🎉 With Ethereum withdrawals available on Lido, you can now unstake your stETH/wstETH directly through the Lido UI.

For a high-level overview of the process, check out the following collection:

help.lido.fi/en/collections… 🖼️ What is the Lido NFT?

With Lido, your withdrawal request represented by an NFT. The NFT is minted for you when you send a request.

When your request is ready to be claimed, the NFT will change. After you claim your ETH, the NFT will be burnt.

help.lido.fi/en/articles/78…

📊 Q1 2023 update of Lido's Ethereum VaNOM is out!

Clarity has been added on stake distribution across the node operator set, in both absolute and relative terms.

blog.lido.fi/lido-ethereum-…

More info below 👇 Understanding and analysing stake distribution is crucial in guiding decision-making in areas like operator onboarding, assessing new staking router modules, and exploring collaborations that further the DAO’s commitment to decentralization.

📈 Lido Analytics: May 8 - May 15, 2023

TLDR:
- TVL is up 2.40% ending the week at $12.36b.
- 18.7% of last week’s ETH staking deposits came to Lido (total value of 183.3k ETH).
- Lido on Polygon grew 34.56% thanks to a large inflow of new deposits (32.1m MATIC). ⚡️Lido TVL

Lido TVL grew thanks to the new staking deposits primarily on Polygon and Ethereum.

TVL currently sits at $12.36b (UTC 08:00 May 15).

TVL 7d: +2.40%

Following a successful on-chain vote, Lido V2 is officially here.

blog.lido.fi/lido-v2-launch/

🏝️ Lido V2 introduces two major components: withdrawals & staking router.

The most user-facing aspect - withdrawals - allow stakers to directly unstake their ETH through Lido.

To try this out, visit stake.lido.fi/withdrawals

👀

vote.lido.fi/vote/156 🤨👀

📈 Lido Analytics: May 2 - May 8, 2023

TLDR:
- TVL up 4.41% closing the week at $12.07b.
- 17.3% of last week’s ETH staking deposits went to Lido (total value of 146k ETH).
- Lido passed 6 million ETH deposited to Beacon Chain.
- stETH/ETH rate remains stable and sits at 0.9990. ⚡️ Lido TVL

Lido TVL grew thanks to an inflow of new staking deposits - especially on Ethereum - and a general rise in token prices.

TVL currently sits at $12.07b (UTC 07:00 May 8).

TVL 6d: +4.41%

A Lido V2 update:

The final on-chain vote for the V2 upgrade is scheduled for this Friday, May 12th.

If no last-minute findings are surfaced and the vote is successful, Lido V2 will be live after the vote enactment on May 15th 🏝️ It’s been a long journey to get to this point & a few notable milestones have made this possible:

✅ Goerli Testnet (shout out to all 29 Node Operators)
✅ Audits (shout out to audit teams)
✅ Offchain tooling ready for operation (shout out to Oracles & Guardian Daemon Council)

Attention LDO holders 🏝️📢

We have 4 ongoing snapshots for you to vote on.

1⃣ Lido on Ethereum Validator Exits Policy
2⃣ Ongoing Grant Request
3⃣ DAO treasury to aid in the Sushi recovery
4⃣ Nominating reWARDS committee as representative for airdrops

snapshot.org/#/lido-snapsho… 1️⃣ Lido on Ethereum Validator Exits Policy

This policy outlines expectations and service requirements regarding validator exits that Node Operators are expected to adhere to, and the possible penalties for failing to process validator exits timely.

snapshot.org/#/lido-snapsho…

📈 Lido Analytics: Apr 17 - Apr 24, 2023

TLDR:
- Lido TVL saw a -10.07% correction due to drop in token prices.
- Lido took in 19.4% of this week’s ETH staking deposits, with a total value of 111.0k ETH.
- stETH/ETH remains stable and currently sits at 0.9988. ⚡️ Lido TVL

Lido TVL saw a correction last week because of the drop in token prices. This was primarily driven by the ETH/USD price going down by 12.7%.

Current Lido TVL sits at $11.43b (UTC 11:00 Apr 24).

7d: -10.07%

One of the more interesting parts of Lido V2 is GateSeal.

GateSeal is a one-time use contract which can be used by a committee to temporarily pause another contract for a predetermined amount of time.

As of last week the factory for GS has been deployed:
etherscan.io/address/0x6c82… A GateSeal has two key parameters:

1. Which contract(s) can be paused?

2. Which committee (multisig) is responsible for making the decision?

Upon use, the contracts in question pause for a predetermined amount of time (e.g. 1 week) and the GS dissolves (can’t be reused).

🎉 Lido V2 is currently being tested on Goerli with the first successful withdrawal already confirmed 🎉

goerli.etherscan.io/tx/0xfbbb5259b…

Here's what to expect from the Goerli V2 Testnet 🧵👇 The overarching focus of the V2 testnet is to prepare for a secure and trouble-free launch of the Staking Router and Ethereum withdrawals for stakers and node operators.

This includes testing contracts, UIs, Bunker mode, NO flows, & Oracle + Guardian Daemon Council tooling.

📈 Lido Analytics: Mar 20 - 27, 2023

TLDR:
- Lido TVL -1.04% down due mainly to ETH price volatility last week.
- 36.4% share of weekly ETH deposits.
- stETH/ETH rate: 0.9986.
- Expansion of stETH lending pools: @AaveAave V3 wstETH +10.6%, @MakerDAO wstETH-A +25.6%. ⚡️ Lido TVL

Lido TVL saw a slight decrease caused mainly by ETH price correction (-2%), while ETH deposits showed sustainable growth (+0.82%) last week.

Current TVL sits at $10.46b (UTC 10:00 Mar 27).

Last week: -1.04%
Today: 0%