Lido Accuses Rocket Pool of Centralization in Social Media Post
A team member for Lido, a liquid staking protocol, has accused competitor Rocket Pool of being too centralized. The accusation came in a July 4 social media post by Dmitry Gusakov, Lido’s community staking lead. According to Gusakov, the Rocket Pool contracts are controlled by the Rocket Pool team, giving them the power to change parameters and call methods. In contrast, Lido’s contracts are fully controlled by the decentralized autonomous organization (DAO) LidoDAO.
Key Points:
- Rocket Pool contracts are controlled by the team, allowing them to change parameters and call methods.
- Lido’s contracts are fully controlled by LidoDAO, ensuring decentralization.
- Rocket Pool Grants Management Committee member Waq acknowledges the vulnerability and states it will be fixed.
- Gusakov claims Rocket Pool’s contracts have a parameter called “guardian” that allows the team to perform actions such as changing the inflation rate or increasing fees.
- Rocket Pool community advocate Jasper.lens confirms the centralization issue and mentions it will be patched in an upcoming upgrade.
Hot Take:
The accusation of centralization in Rocket Pool’s contracts raises concerns about the level of control the team has over the protocol. While Waq assures that the vulnerability will be fixed, it remains to be seen how this will impact Rocket Pool’s reputation and community trust. As liquid staking protocols gain popularity, it becomes increasingly important for projects to maintain decentralization and transparency to ensure the trust of their users.
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