Lido Finance Approves Integration of Simple Distributed Validator Technology from Obol Network
Lido Finance, the liquid staking protocol, has voted in favor of incorporating Simple Distributed Validator Technology (DVT) from the Obol Network. The proposal received overwhelming support, with over 99% of the votes in favor. As part of the approval, the Lido DAO cover fund will be utilized to cover module slashing penalties and other associated costs.
The inclusion of DVT will allow Lido to add new Node Operators quickly and diversify its participant profile, leading to increased resilience, distribution, and security. The Simple DVT module will serve as a demonstration of the feasibility of using DVT on Ethereum mainnet and pave the way for more scalable and permissionless DVT-based modules in the future.
Obol Network: A Step Towards Decentralization
The approval of this proposal marks a significant milestone for Lido as it represents the first module to leverage Obol DVs on Ethereum mainnet. Obol Labs, the developer behind the Obol Network, expressed their excitement about this development on social media. They believe that integrating Obol DVs will contribute to a stronger diversification and decentralization of Lido’s Node Operator set.
The Obol Network offers individuals the opportunity to participate in a distributed ecosystem of staking validators.
Hot Take: Lido Finance Embraces Diversification with Obol Network Integration
Lido Finance’s decision to integrate Simple Distributed Validator Technology from the Obol Network is a significant move towards diversifying its Node Operator set and strengthening its decentralization efforts. By utilizing DVT, Lido will benefit from enhanced resilience, distribution, and security while paving the way for more scalable and permissionless modules in the future.
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