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Lido DAO: stETH Withdrawals To Come on Mainnet After April Audits

Published 15/03/2023, 15:59
Lido DAO: stETH Withdrawals To Come on Mainnet After April Audits

  • Lido DAO said stETH withdrawals would launch on the mainnet after audits.

  • The platform’s codebase is almost finalized, and all significant fixes merged.

  • Lido DAO token ranks 29 with a market cap of over $2.3 billion.

On Monday, Lido DAO, a liquid staking solution for Ethereum, provided an update regarding the withdrawal of stETH staked on the protocol following the Shanghai upgrade on the Ethereum blockchain.

The Lido DAO team said on Twitter that stETH withdrawals would launch on the mainnet once all audits concerning on-chain code are completed, which is expected at the end of April. Lido noted its goal was to be ready for its scheduled Ethereum 2.0 network upgrade from Monday evening. However, it claimed node operators would need about four weeks to implement fully and test validator exits once the update goes live.

Ultimately, the Lido DAO platform is undergoing seven Version 2 (V2) audits, with its codebase almost finalized and all significant fixes merged. Lido DAO will also commence a four-week Goerli testnet on March 20, which will be crucial in identifying any remaining issues before the Ethereum withdrawals go live.

Notably, Lido is a liquid staking solution for Ethereum that lets users stake their ETH with no minimum deposits or infrastructure maintenance while participating in on-chain activities. Its native token ranks 29 among the most significant coins, with a market cap of over $2.3 billion.

According to a top-ten list by a tracking account on Twitter, the Lido DAO token recently surpassed popular blockchains, such as Polkadot (DOT) and Avalanche (AVAX), in terms of daily GitHub development activity. The coin trades at $2.75, with over 9.2% growth in the last seven days hours.

The post Lido DAO: stETH Withdrawals To Come on Mainnet After April Audits appeared first on Coin Edition.

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