25% of All ETH Staked: Lido’s New Governance Model Gives stETH Holders Power

Lido Finance, the largest liquid staking platform on Ethereum, has proposed a new governance model. Over 25% of all ETH is currently staked through Lido’s infrastructure. The Lido Improvement Proposal (LIP) 28 introduces a dual governance system. This system allows staked ether (stETH) holders to vote alongside existing LDO tokenholders. Currently, only LDO tokenholders, with the token priced at $0.7664, can influence protocol decisions. Under the new system, stETH holders can veto proposals approved by LDO tokenholders. A special timelock contract will be implemented between Lido DAO’s decisions and their execution. If stETH holders oppose a proposal, they can deposit their stETH into an escrow contract. Crossing the first seal at 1% of total Lido ETH staked increases the timelock duration. If deposits reach 10% of Lido’s ETH total value locked (TVL), a “rage quit” is triggered, blocking the DAO’s decision until all protesting stakers can withdraw their ETH. The proposal is still in discussion, with a formal vote expected soon. LDO prices have risen 6.5% in the past 24 hours, while the CoinDesk 20 Index increased by 2.5%.

Source: www.coindesk.com

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