The Lido on Ethereum V2 upgrade

The Lido on Ethereum protocol team presents the plan for the Lido V2 upgrade. The upgrade enables Withdrawals and introduces the Staking Router modular architecture for Node Operators set.

The major features prepared for the upgrade are:

  1. Withdrawals support
    1. In-protocol withdrawals FIFO request queue
    2. Revised protocol accounting
    3. Facilitating validator exits
    4. Rewards skimming
  2. Staking Router
    1. Solid architecture and interfaces for upcoming modules
    2. Upgrade NodeOperatorRegistry resembling the curated operators set
    3. Levers for the NOM/DAO ops

The upgrade implements several other changes as well, the most notable being a significant rewrite of the Oracle smart contract & off-chain daemon software. That’s required to support the withdrawals functionality, and make an order of magnitude more Node Operators possible.

To ensure the security of such a big change in the on-chain and off-chain code, Lido V2 is getting a significant amount of security audits:

  1. Sigma Prime auditing the updated dc4bc version designed for the 0x00->0x01 Withdrawal Credentials rotation ceremony.
  2. ChainSecurity audited the Staking Router code. ChainSecurity’s work will be used to find out potential weaknesses of the new crucial protocol part before merging it into the final protocol upgrade code. The audit report is published on github.
  3. Oxorio will be conducting a cover to cover audit of the protocol with enabled Ethereum withdrawals code base in February-March.
  4. Statemind will be conducting a cover to cover audit of the protocol with an enabled Ethereum withdrawals code base in February-March.
  5. HEXENS will be conducting a cover to cover audit of the protocol with an enabled Ethereum withdrawals code base in February-March.
  6. MixBytes() Camp security audit contest of the protocol smart contracts is scheduled in February-March.
  7. Certora will be the final contributor to the protocol upgrade security providing the full protocol audit and formal verification in February-March.

This Lido on Ethereum protocol upgrade makes the protocol feature-complete by allowing stETH to Ether withdrawals and opens a path for more experiments and collaboration with Staking Router architecture. Stay tuned to updates and build with us!


Really looking forward v2 :rocket::rocket::rocket:


V2 feels like x2 in terms of features and the protocol’s architecture completeness :+1:


Snapshot vote started

Please get your wallets ready to cast a vote :white_check_mark:, the The Lido on Ethereum V2 upgrade Snapshot has started! The Snapshots ends on Tue, 07 Mar 2023 18:00:00 GMT.


Thank you Governance Data Bot! The vote has started!


Hey everyone.

Obol is excited to express our support for the proposal on Lido’s V2 modular architecture.

We believe that it will play a crucial role in enhancing the decentralization and resilience of Lido’s stake. The inclusion of DVT as a central element of the spec further reinforces the potential impact of this development.

As such, we fully endorse the proposal and look forward to seeing the positive impact it will have on the Lido ecosystem.


Snapshot vote ended

Thank you all who participated in The Lido on Ethereum V2 upgrade Snapshot, we reached a quorum! :pray:
The results are:
Support the upgrade plan: 52.0M LDO
Don’t support the upgrade plan: 22 LDO


Thank you for the votes & support! Gearing up for the upgrade, stay tuned!