Lido, the largest liquid deployment protocol from Ethereum, makes an important overhaul in his management structure. Lido DAO members have largely unanimously approved a two-way board system that gives strikers (Steth holders) the power to postpone the proposal of the field or to delay Veto board.
The new system brings a balance in the current management model, where only Lido -Token holders (LDO) can submit proposals and participate in voices. The aim is to prevent LDO holders from approving a proposal that the strikers of Lido or the Ethereum ecosystem would negatively influence.
According to the new structure, strikers, namely Steth token holders, will be able to register their objections against a management proposal by depositing their steth capacity into a special ‘escrow contract’. If 1% of the total set out ETH is deposited in this contract, the relevant proposal is postponed for 5 days in the first phase. As this rate increases, the postponement period will also be extended.
If a threshold of 10% is exceeded, the offer is completely “frozen” and the protocol will be “Rage-Equit” mode. In this case, the different strikers will withdraw all their assets, or Lido Dao will completely cancel the relevant offer. No new offers will be implemented during this period.
The most important phase of the mood was completed with 53.6 million LDOs that released a “yes” vote, just above the quorum of 50 million LDOs. Only one person published a “no” vote of 1.18 LDOS. These results indicate a similar turnout as a previous Lido DAO votes.
In the remaining ‘objection’ phase of the voting process, only LDO holders have the right to vote ‘no’ or to change their current vote of ‘yes’ to ‘no’ unless there is a large -scale organized counter -campaign at this stage, the proposal is expected to be completed on 30 June at 17:00 (GMT+3).
Ethereum co-founder Vitalik Buterin made a statement to support the two-way governance. Buterin emphasized that this structure creates an independent layer of security “mainly against malignant actions” and enables Ethereum strikers to position itself as real rights holders in the Lido ecosystem.
The Lido team described the change as “one of the most important protocolupgrades in the entire Lido ecosystem.”
*This is not investment advice.
