• Lido DAO announced it will soon have the final vote for the Lido V2 upgrade unlocking around $500 million worth of ETH.
• The Ethereum Shapella upgrade enabled staked ETH (stETH) withdrawals and the vote is set for May 12, with withdrawals expected to start on May 15.
• Lido is currently the most popular staking service in the market, with over 6.1 million ETH deposits and a market cap of almost $12 billion.
Lido Announces Final Vote For V2 Upgrade
Lido DAO announced that it would soon have the final vote for its V2 upgrade, unlocking half a billion dollars worth of Ethereum (ETH). If successful, withdrawals would be serviced quickly on May 15th. This upgrade enables users to swap their stETH back into ETH since the launch of Beacon Chain in December 2020.
Shapella Upgrade Enables Staked ETH Withdrawals
The Ethereum Shapella upgrade that went live on April 12th has enabled validators to fully or partially withdraw their staked ETH from Queue. Beaconcha.in shows only one validator looking to exit the program at this time. Around 270,000 ETH worth $500 million at current prices are locked into Lido’s smart contracts until withdrawal is enabled after successful voting.
Lido As Most Popular Staking Service
Lido is currently the most popular staking service in the market with over 6.1 million ETH deposits according to data from Nansen and a market cap of almost $12 billion making it one of the largest liquid staking derivatives (LSD) protocol available today. It allows users to stake less than 32 ETH and assures that withdrawal requests are “likely to be serviced more quickly during first three days” when they become available after successful voting on May 12th-15th timeframe..
Uptick In Deposits Following Shapella Upgrade
Following Shapella updating enabling withdrawals there were an uptick in deposits as people anticipate being able to withdraw their funds again and take advantage of increasing prices for Etheruem (ETH). While there can still be fluctuations in amount locked up until official release date, it is unlikely that there will be mass exodus due to increase popularity of Lidos services among stake holders..
Lido has been steadily increasing its foothold in staking services industry by providing lower entry point allowing users with less than 32 etheruem (ETH) to join and benefit from yields while keeping user funds secure within smart contracts even before official release date enabling withdrawals After successful voting on May 12th-15th timeframe we should expect massive influx of funds onto open markets as people reclaim their investments again leading potentially lead towards further appreciation of Etheruem prices..