Lido Vote #214 Passes As Dual Governance Moves Onto Ethereum Mainnet

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Lido DAO Vote #214 has passed with 58.2 million LDO participating in favor. The vote implements Dual Governance V1 parameters, giving stETH holders a new mechanism to contest certain governance actions. The associated emergency governance delay has been extended to 14 days. Lido’s long-running effort to give stETH holders more influence over protocol governance has moved another step forward. Onchain Vote #214 has passed, implementing parameters associated with Lido’s Dual Governance system on Ethereum mainnet. The vote received support from 58.2 million LDO participating tokens. Dual Governance Creates A Second Check On LDO Holders Traditional DAO governance gives voting power to holders of the governance token. For Lido, that means LDO. The complication is that the people economically exposed to the staking protocol are not necessarily the same people holding large amounts of LDO. stETH holders may have substantial value inside Lido while having little direct ability to stop governance decisions that affect the protocol. Dual Governance is designed to narrow that gap. The fra...