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Lido Finance in July: Pain, pleasure, and the task ahead

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Lido had some ups and downs in the month. But in August, Lido plans to go ahead with new developments.

“Despite the Curve Finance exploit this past week not affecting the stETH-ETH pool, many liquidity providers chose to prudently withdraw their stETH holdings until the matter is resolved.”

Lido also highlighted that Ethereum’s remained very involved in the contribution to the protocol. As a result, Lido was able to secure partnerships that propelled the listing of stETH on exchanges and lending platforms. In explaining this, the Lido Finance report mentioned that there were several node operator calls from both ends. Node operators are individuals or entities that certify transactions on the blockchain. These operators do this by writing new blocks and broadcasting them to the network. And in August, Lido noted that there will be more:

“The Ethereum Node Operators Wave 5 update revealed that successful Stage 1 applicants will undergo onboarding in mid-August, while the LNOSG is diligently working towards finalizing a shortlist of 7-9 Node Operators for Stage 2 by the last week of August.”

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