Important Ethereum Voting on Lido Finance

As it is known, Ethereum started a new era with its Shanghai (Shapella) upgrade in the past months. On the Lido Finance, there was an important vote on the new era of Ethereum.

Lido Finance, the largest liquid staking protocol on Ethereum, has upgraded it to version 2, a critical change that allows users to withdraw Ether (ETH) from the platform. The transition to version 2 was accepted by an on-chain vote, where community members negotiated the proposal. Governance voting number 156, which started on May 12, 2023 on the Aragon platform, was concluded within a day.

The vote for the upgrade resulted in huge support. The upgrade comes after the Shapella upgrade that took place last month, which allowed staking validators to withdraw Ether (ETH). Lido Finance has been working for a long time to facilitate withdrawals due to numerous security controls.

The key feature of Lido V2 is that liquid stakers – holders of staked ether (stETH) – can withdraw funds from Lido at a 1:1 ratio. This development will also make the process of users entering and exiting Ethereum liquid staking much easier.