Lido Finance has announced the imminent launch of Lido V2 after the final on-chain vote for the upgrade on May 12th. If the vote is successful, Lido V2 will go live on May 15th, unlocking direct in-protocol stETH:ETH withdrawals and making around 270,000 ETH available. This will enable the fulfillment of initial withdrawal requests without the need for a lengthy validator exit process.
Lido’s new staking router architecture will pave the way for new staking modules, and the ETH in the withdrawals vault will be used to fulfill withdrawal requests and restaked when the queue is empty. This means that withdrawal requests are likely to be serviced more quickly during the first three days after the upgrade.
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 🏝️
— Lido (@LidoFinance) May 8, 2023
The Lido team has praised the efforts of the 29 Node Operators who helped to test the Goerli Testnet, as well as the audit teams and offchain tooling providers who helped to make the upgrade possible. They are confident that the upgrade will go smoothly and are excited about the benefits that Lido V2 will bring to the platform and its users.
Lido Finance is a popular platform for staking Ethereum, providing a secure and reliable way for users to earn rewards on their ETH holdings. The platform has grown rapidly in popularity in recent months, as more and more users look to take advantage of the benefits of staking.
Overall, the imminent launch of Lido V2 is great news for the DeFi community, providing a faster and more efficient way for users to withdraw their staked ETH holdings. The Lido team is confident that the upgrade will be a success and is looking forward to providing even more benefits to its users in the future.
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