ChainCatcher news, Lido announced that the snapshot vote for the launch of its Community Staking Module (CSM) mainnet has successfully passed. The contract has now been deployed on Ethereum and will initiate on-chain voting next week after final security checks. If approved, the Community Staking Module (CSM) will be launched soon. Lido encourages community stakeholders to check their "early adopter" eligibility before the mainnet launch next week, as eligible operators can access the CSM mainnet in advance.

ChainCatcher news, according to Cointelegraph, Lido DAO has voted to approve the introduction of stETH to the BNB Chain, and will adopt a solution in collaboration with Axelar and Wormhole to achieve this goal.Lido explains that bridging Lido Staked ETH (stETH) to the BNB Chain is an important milestone, marking Lido's first connection to a Layer 1 blockchain protocol outside the Ethereum ecosystem.Lido's market share in Ethereum staking fell below 30% at the beginning of 2024, after which it reached 1 million validators in April 2024. Additionally, DefiLlama data shows that the current total locked value (TVL) of the entire DeFi ecosystem is approximately $83.4 billion, with Lido's liquid staking accounting for $25.94 billion of the market TVL.

ChainCatcher news, Lido announces that its community staking module testnet is now fully permissionless and open to everyone.

ChainCatcher news reports that, according to the Snapshot governance page, the Lido community voted to approve the proposal "Designate Entity to Respond to Pending Class Action Against Lido DAO."The proposal states that a private plaintiff has filed a class action lawsuit numbered 3:23-cv-06492 in the United States District Court for the Northern District of California, naming "LIDO DAO, a general partnership" as the defendant. The complaint alleges that Lido DAO is a "general partnership operating an Ethereum staking business," and that the LDO token or LDO token transactions are alleged to be securities or securities transactions, with Lido DAO accused of violating securities laws by offering or selling these securities to the public.On June 27, the court ruled that the plaintiff's actions of serving legal documents to Lido DAO through various publicly available means were lawful, and ordered Lido DAO to respond within 14 days, or face a default judgment on the claims made by the plaintiff.Therefore, this proposal suggests appointing and funding a Delaware limited liability company, Dolphin CL, LLC ("Dolphin"), to hire legal counsel (currently expected to be Brown Rudnick, led by partner Stephen Palley), without admitting and explicitly disagreeing that Lido DAO is a partnership, association, or other legally recognizable group or entity. The requested funding amount is 200,000 DAI, which is expected to be sufficient to cover the service fees of Dolphin and its legal counsel to draft, submit, and argue in support of a motion to dismiss the claims involving Lido DAO.

ChainCatcher news, according to the Snapshot governance page, the Lido community has initiated a proposal vote titled "Designated Entity Response to Pending Class Action Against Lido DAO."The proposal states that a private plaintiff has filed a class action lawsuit numbered 3:23-cv-06492 in the United States District Court for the Northern District of California, naming "LIDO DAO, a general partnership" as the defendant. The complaint alleges that Lido DAO operates as a "general partnership conducting Ethereum staking business," and that the LDO token or LDO token transactions are alleged to be securities or securities transactions, with Lido DAO accused of violating securities laws by offering or selling these securities to the public.On June 27, the court ruled that the plaintiff's delivery of legal documents to Lido DAO through various publicly released means was lawful, and ordered Lido DAO to respond within 14 days, or face a default judgment on the claims made by the plaintiff.Therefore, this proposal, while not acknowledging and explicitly disagreeing that Lido DAO is a partnership, association, or other legally recognizable group or entity, proposes to appoint and fund a Delaware limited liability company, Dolphin CL, LLC ("Dolphin"), to hire legal counsel (currently expected to be Brown Rudnick, led by partner Stephen Palley). The requested funding amount is 200,000 DAI, which is expected to be sufficient to cover the service fees of Dolphin and its legal counsel to draft, submit, and argue in support of a motion to dismiss the claims involving Lido DAO.The proposal will close for voting on July 10, with a current approval rate of 100%.

ChainCatcher message, the Snapshot page shows that the Lido community has voted to approve the proposal "Create Lido Contributor Alliance Working Group." According to the proposal, the Lido Alliance is a framework for Lido DAO that provides support and recognition for the protocol, also focusing on smart contract and product security, and is committed to decentralized Ethereum validation without restrictions. It relies on the yet-to-be-established Lido DAO governance process to identify and recognize projects that align with its values and mission and can actively contribute to the stETH ecosystem.

ChainCatcher news, according to the Snapshot page, the Lido community has initiated a proposal vote for "Lido Alliance: Ethereum Alliance Ecosystem," which will end at midnight on May 24. According to the proposal, the Lido Alliance is a framework for Lido DAO that provides support and recognition for the protocol, focusing on smart contract and product security, and is committed to decentralized Ethereum validation without restrictions. It relies on the yet-to-be-established Lido DAO governance process to identify and recognize projects that share its values and mission and can actively contribute to the stETH ecosystem. The proposal calls for the creation of a dedicated Lido Contributor Alliance working group. The purpose of this working group is to assess potential new alliance members, guide and mentor them in participating in the DAO's governance process, and help them understand the potential for alliances and product development. The joining and exiting of projects from the Lido Alliance will be decided by the DAO through Snapshot voting.

ChainCatcher news, the Lido community has launched a proposal called "Lido Alliance: Ethereum Alliance Ecosystem." The Lido Alliance is a framework of Lido DAO that provides support and recognition for the protocol, as well as drives the realization of decentralized Ethereum validation.The main principle of the alliance is centered on maintaining Ethereum's decentralization, integrating product solutions with Lido middleware, ensuring user safety, and guaranteeing permissionless access and censorship resistance.The alliance will be built around stETH and suggests the creation of a dedicated Lido Contributor Alliance working group.

According to ChainCatcher's message, the Lido community has initiated a proposal vote titled "Activating Lido Protocol Governance through Revenue Sharing Staking," which will end on April 8.The proposal states that it plans to redirect 20-50% of future Lido DAO revenue (based on governance-switchable parameters) from the protocol treasury to LDO stakers, and distribute Lido DAO's revenue to LDO stakers in the form of LDO tokens through a weekly buyback and distribution mechanism (the specific mechanism will be determined separately).

ChainCatcher message, the Snapshot voting page shows that the Lido community is voting on the "2024 Reward Sharing Plan" proposal, which will end on March 22, with current support at 100%. The proposal suggests adopting a new reward sharing plan to replace the previous tiered reward sharing plan.Like the previous plan, the new plan aims to raise awareness of liquid staking technology and liquid staking tokens like stETH by sharing some middleware usage fees with selected applicants. However, the new plan introduces some changes:Minimum threshold: The new plan will focus on institutional applicants that meet the minimum threshold, requiring participants to prove they have driven at least 40,000 ETH staked from Lido middleware users, which should attract high-quality participants;No tiers: Instead, the reward sharing ratio will be calculated by the committee, up to 50% of the DAO's 5% staking reward share;Quarterly payment of reward shares.

ChainCatcher news, according to the Snapshot governance page, the Lido community has initiated a proposal vote for "Approval of the Community Staking Module," which will end on December 15. This module will allow permissionless entry into the Lido validator set on Ethereum, with certain collateral requirements. If approved, the community staking team will further research and develop the proposed module and will propose the mainnet release and approval of all parameters to the Lido DAO in an upgrade vote around the end of 2024.

ChainCatcher message, the Lido community has initiated a new proposal aimed at having the DAO consider adopting the cross-chain token standard xERC20 and using it for wstETH. The next step for this proposal is to hold discussions within the Lido community to clarify the standard and the implementation process (including the whitelisting process). If the community supports this proposal early on, the first temperature check will be proposed in January 2024.xERC20 is an open cross-chain standard (EIP 72816) that provides support for token issuers: managing bridges, setting minting limits, and allowing selected bridges to mint the same token.

ChainCatcher message, the Lido community has initiated a proposal discussion to extend wstETH to the BNB Chain, aiming to leverage the expertise and technology of Wormhole, Axelar, and Lido DAO for multi-chain deployment. Wormhole will deploy the wstETH contract on the BNB Chain, and upon completion of the deployment, the contract ownership will be transferred to a multi-signature address composed of contributors, which will be protected by representatives selected from the entire Axelar network, Wormhole Foundation, and BNB Chain.

ChainCatcher news, the Lido community has released a discussion proposal to initiate a sunset process for the staking protocol Lido on Polygon, similar to those on Polkadot and Kusama. The proposal states that Lido has spent 1,538,500 LDO in rewards on Polygon over the past year, and the annual income for every 1% of MATIC staked is $41,991. Shard Labs' one-time compensation is 150,000 LDO, and the proposer stated, "This is a poor return on investment."

ChainCatcher message, the Snapshot page shows that the Lido community has voted to approve the "Add 7 Ethereum Operators" proposal, with a final support rate of 99.99%.It is reported that the proposal aims to enhance decentralization features and resilience, and to introduce new organizations with strong skills that align with Lido's values.The next step is that the Lido community will conduct an on-chain Aragon vote on October 3, 2023, to add 7 node operators to the Curated Operator Set.

ChainCatcher message, the management team of Lido Finance on Solana submitted the "Lido Funding Proposal on Solana" to the Lido community.The proposal states that in order to maintain and develop Lido on Solana, a request for $1.5 million is needed over the next 12 months, which includes a development reserve (quarterly $200,000 for development costs), a marketing budget (annually $600,000 to establish stable and reasonable marketing channels), and customer support (annually $100,000 to establish industry-standard customer support services). During this period, the operations team expects to grow and capture over 1% of the Solana staking market share; develop and implement new features; and formulate a sustainable and reasonable marketing plan. In terms of financial revenue, a 1% share of the Solana staking market will bring in 10,191 SOL in revenue over 12 months, approximately $200,000.The proposal states that if financial support from Lido DAO cannot be obtained, a sunset process will be initiated: on September 10, Lido on Solana will no longer accept new staking deposits; on October 10, node operators will voluntarily withdraw from the pool; and on February 10, 2024, front-end support will cease, and unstaking can only be done via CLI. In this case, the operations team will seek $20,000 per month from Lido DAO to support its 5-month technical maintenance work starting from September 4. The proposal will begin voting in 4 weeks.

ChainCatcher news, the Lido community voted to approve the proposal to "stake all treasury ETH in Lido." At the end of May, the Lido DAO Finance Working Group Steakhouse submitted the public governance proposal TMC-0, suggesting to stake all treasury ETH in Lido.The proposal states that the annual yield of 20,000 ETH is between 4% and 6%, with earnings approaching $2 million per year. (source link)

ChainCatcher news, the Lido community is voting on whether to stake all of its Ethereum to its own protocol to create productive assets that can offset operational costs. Based on the current yield rates, by staking its current 20,000 Ethereum, Lido could earn an additional $2 million per year.Members of the finance management committee have all voted in favor of the proposal, believing it is a good choice to generate revenue without incurring unnecessary risks. However, some are concerned about the smart contract risks associated with the Lido protocol, as well as the potential impact of ETH price fluctuations on operational expenses. (CoinTime)

ChainCatcher news, SushiSwap CEO Jared Grey stated on his social platform that a recent attack on SushiSwap resulted in some Lido protocol participants obtaining hundreds of ETH. Sushi has already collaborated with the Lido team to find solutions to recover the stolen funds they have already paid, but some community members believe that Lido has no obligation or authority to return these funds, essentially giving the green light to distribute the stolen funds to multiple Lido DAO participants. Controversially, Hasu, the strategic director of Flashbots and strategic advisor to Lido, also supports this viewpoint.Jared Grey stated that attempting to use the bureaucratic processes of the DAO to obfuscate and hinder this process is hypocritical and completely wrong. He hopes to reach an amicable solution with Lido DAO and its supporters to return the relevant funds.In addition, the Lido community recently initiated a proposal on whether to return 39.8 ETH to Sushi, which is set to close on May 26. Currently, there is a 98.48% voting rate deciding not to take action, with Hasu voting in favor of inaction with 5.2 million LDO.Previously, on April 9, SUSHI RouteProcessor2 was attacked, and the Ethereum staking protocol Lido captured 689.02 ETH in MEV rewards. On April 10, Jared Grey tweeted that it has been confirmed that over 300 ETH of the stolen funds have been recovered from CoffeeBabe, and he is in contact with the Lido team regarding the issue of 700 ETH. (source link)

According to ChainCatcher news, the Snapshot voting page shows that the Lido community has opened a proposal vote today regarding the approval of DAO fund management principles and the authorization to establish a treasury fund management committee. The current support rate is 99.12%, and the voting will end on April 28.The proposed treasury management principles include that ETH is the primary unit of account for Lido DAO, that Lido DAO's funds are a source of protocol resilience and future growth, which can fund plans to further achieve the goals of protocol decentralization and network security; the risk of loss of treasury funds should be minimized under any circumstances; all treasury ETH must be staked in Lido; and LDO holders have the final say. (Source link)