Cointime

Download App
iOS & Android

Lido Provides Update on Ethereum Withdrawals, Including Plans for V2 Upgrades

Cointime Official

Lido Finance, a staking protocol for Ethereum 2.0, recently provided an update on its withdrawal process for Ethereum. According to the tweet, Lido DAO is currently undergoing seven V2 audits in preparation for the upgrade.

The codebase for the upgrade is reportedly very close to being finalized, with all major fixes already merged. In addition, a four-week Goerli testnet is expected to commence next week, around March 20th.

Full thread:

Security is always the priority. It’s a fundamental part of Lido’s DNA and mission.

$1.2 million has been spent on 7 V2 audits, the results of which will be made publicly available upon completion.

So far they’ve uncovered several findings that have required swift attention.

As of last friday, all key findings have been remediated and the relevant fixes merged: https://github.com/lidofinance/lido-dao/pull/659… The updated contracts have been deployed to Zhejiang where they are currently being tested.

What does this mean for the timeline?

Lido DAO contributors have been testing functionality on Zhejiang since Friday.

While the Goerli hardfork is expected to happen later today, the time spent on addressing audit results has had a knock-on effect on Lido’s Goerli timeline.

While the goal was to be ready for the Goerli hardfork this evening, the target date for the Lido upgrade has been pushed back to next week.

It is estimated that Node Operators will need 3-4 weeks to fully implement and test validator exits once the upgrade goes live.

In addition to this, stETH withdrawals won’t launch on mainnet until all audits concerning on-chain code are completed (expected end of April).

Adding another 2 weeks as a safety margin, the current expectation is for mainnet withdrawals to be live around mid May.

P.S. of the 7 V2 audits, 2 have completed and 5 are in progress. Full reports will be posted publicly as they become available. - @sigp_io dc4bc Security Audit https://github.com/lidofinance/audits#03-2023-sigma-prime-dc4bc-security-audit… - @chain_security Lido Staking Router Audit

Comments

All Comments

Recommended for you

  • BTC Falls Below $65,000

    Market data shows BTC has fallen below $65,000, currently reported at $64,999.23, with a 24-hour increase of 1.01%. Market volatility is high, please exercise risk control.

  • Hedge Fund AISituational Awareness's Mysterious $400 Million Investment Targets Chip Startup Source Foundry

    On August 8, sources revealed that the hedge fund Situational Awareness, managed by former OpenAI researcher Leopold Aschenbrenner, made a mysterious $400 million investment in the chip manufacturing startup Source Foundry just days after facing imminent collapse. Previously, Bloomberg reported that the hedge fund invested in a private company backed by Sequoia Capital, but did not disclose the name of the specific company. The Wall Street Journal had earlier reported that the recipient of the investment was Source Foundry, unveiling the target of this mysterious funding deployment by Situational Awareness.

  • US Spot Bitcoin ETF Sees $101.79M Net Inflow Yesterday

    On August 8, according to Trader T's monitoring, US spot bitcoin ETFs saw a net inflow of $101.79 million yesterday.

  • US Official: Ukraine Agrees to Avoid Strikes on Non-Russian Tankers and Black Sea Oil Facilities

    On August 8, according to a US official, Ukraine has agreed not to target certain non-Russian tankers and Black Sea infrastructure vital to Kazakhstan's crude oil exports. This follows ship attacks last month that caused loading disruptions. The US official said Ukraine has set up contact points so commercial shipping companies can communicate information and ensure safe passage. The commitment was reached after meetings between senior US government leaders and Ukrainian leadership, marking a potentially significant step toward increasing regional oil shipments. Previously, activity in the region had cooled significantly due to several recent attacks near the Caspian Pipeline Consortium terminal in Russia's Novorossiysk. (Jin Shi)

  • U.S. July Nonfarm Payrolls Fall by 23,000, Missing Market Expectations

    On August 7, U.S. nonfarm payrolls decreased by 23,000 in July, compared with market expectations of an increase of 80,000, and the previous value was an increase of 57,000.

  • US May and June Nonfarm Payroll Additions Revised Down by 103,000 Combined

    On August 7, the US Bureau of Labor Statistics: May nonfarm payroll additions were revised down from 129,000 to 63,000; June nonfarm payroll additions were revised down from 57,000 to 20,000. After the revisions, the combined additions for May and June were 103,000 lower than previously reported.

  • U.S. Rate Futures Market Sees Lower Odds of Fed September Hike

    On August 7, the probability of a Fed rate hike in September as priced by U.S. interest rate futures declined.

  • New York Gold Futures Top $4,400 per Ounce

    New York gold futures topped $4,400 per ounce, up 2.36% on the day.

  • Japan Finance Minister: FX Market Affected by Moves Not Driven by Actual Demand

    Japanese Finance Minister Satsuki Katayama said she and U.S. Treasury Secretary Bessent agreed that the foreign exchange market has been affected by moves not driven by actual demand.

  • BTC Breaks Through $65,000

    Market data shows BTC has broken through $65,000, currently reported at $65,007.44, with a 24-hour increase of 0.6%. The market is highly volatile, please exercise risk control.