The Proposal to Enable the Obol Decentralized Staking Module Has Been Approved by Lido Finances

Published on:

Last Updated on November 4, 2023 by Bitfinsider

Lido Finance, a liquid staking protocol, voted to approve a proposal that included Simple Distributed Validator Technology from the Obol Network.

On November 3, the proposal received almost 99% support. The use of the Lido DAO cover money to pay for module slashing fines and other charges was also permitted as a requirement.

“DVT represents the fastest way to add many new Node Operators to the Lido Node Operator set with a more diverse profile of solo and community staker participants while benefiting from the technology’s inherent benefits such as increased resilience, distribution, and security,” a member of the Lido team wrote in the proposal.

“This vote shows support for the development of this new module.” “This will be Lido’s first module to use Obol DVs on Ethereum mainnet,” Obol Labs, the company behind the Obol network, announced on Twitter. “This module represents a significant step towards strong diversification and decentralization of the Lido Node Operator set.”

Obol Labs’ Obol Network enables individuals to participate in an ecosystem of distributed staking validators.

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.