August 4: Additions to Ethereum Node Operator Set – Wave 5 (Stage 1).
- During July 2023, the Lido DAO voted to accept two new Ethereum node operators to join the Lido on Ethereum Node Operator set.
July 18: OKX lists $stETH.
- OKX is a crypto trading platform.
July 17: LEGO report for Q2-3 published.
- LEGO – Lido Ecosystem Grants Organisation – is an initiative by the Lido DAO to fund and support developments that benefit and grow the Lido ecosystem.
- The LEGO budget for Q3 will remain at $500,000 equivalent. Budget will consist of 40% LDO and 60% DAI token split.
July 1: Lido’s $stMATIC is available on Coinbase Wallet.
June 29: Collaboration with Pyth Network.
- Largest First Party Oracle Network.
- Bring real-time, permissionless stETH price feeds to 20+ blockchains.
June 16: $stETH enabled for Synthetix Perp trading.
- Synthetix is the first protocol to offer $stETH perps, as no other CEX/DEX currently supports it.
June 4: $wstETH enabled for Curve Finance’s $crvUSD.
- Users can mint $crvUSD with $wstETH.
May 15: V2 upgrade and Ethereum withdrawals goes live.
- The Lido V2 upgrade brings a host of exciting new features to the platform with two key focal points:
- Withdrawals – The Lido on Ethereum protocol upgrade allows Lido on Ethereum stakers to burn their stETH and exit the protocol at a 1:1 ratio, achieving a key milestone of an open on/off ramp into the Ethereum Staking ecosystem.
- Staking router – The new modular architectural design allows for the development of on-ramps for new Node Operators, ranging from solo stakers to DAOs and Distributed Validator Technology (DVT) clusters. This will create a more diverse Validator ecosystem.
May 12: Aragon vote to implement Lido on Ethereum V2 upgrade goes live.
- Assuming the vote passes, Lido V2 will go live on May 15th.
March 29: Lido support on Polkadot and Kusama to be discontinued on August 1 2023.
March 24: Plans for adoption of wstETH on Optimisn Chain announced.
- 1,000,000 OP tokens will be distributed to wstETH holders on Optimism over the next 4-6 months.
March 10: wstETH is enabled on Polygon Chain.
March 9: Snapshot for the approval of the design for the Lido V2 upgrade passes.
- The upgrade enables Withdrawals and introduces the Staking Router modular architecture for Node Operators set.
February 7: Introducing Lido V2.
The two main focal points of this upgrade are:
- Staking Router
- Thanks to a new modular architectural design, anyone can develop on-ramps for new Node Operators.
- This all-encompassing Lido on Ethereum protocol upgrade will allow stETH holders to withdraw from Lido at a 1:1 ratio.
January 6: stETH SSOVs (Single Staking Option Vaults) are now live on Dopex.
- As part of Lido’s mission to incentivize stETH use across L2’s, the Lido reWARDS committee allowed for the allocation of 4,000 LDO to Dictum Exchange.
- Whilst approved from a budgeting perspective, it was blocked by due diligence procedures resulting in no LDO being transferred
- The Lido reWARDS process works by approving a potential budget with a collaborator partner prior to checks and due diligence being completed.
- Once due diligence is completed, LDO incentive funds are then allocated to partners.
- Lido found their lack of any audit to be a blocker.
- Furthermore, Lido regarded their use of the Lido reWARDS budget as proof of endorsement as a red flag.
December 24: Pilot DVT integration with Obol Network to further increase protection from single points of failure.
December 21: Upgrade of Lido on Solana to v2 live.
December 20: Snapshot vote regarding v2 of Lido’s stance on Ethereum MEV: the Lido on Ethereum Block Proposer Rewards Policy 2.0 commences.
December 15: Introducing VaNOM – Validator & Node Operator metrics, for Lido on Ethereum.
December 8: Proposal to add wstETH on Aave Optimism commenced.
December 2: Lido supported on Swissborg.
November 22: First Lido node operator community call.
November 17: LDO on Ethereum listed on Coinbase, withdrawals and deposits supported.
November 13: Vote #143 increasing the security check threshold for daily rewards has passed & has been enacted, followed by the successful Oracle report.
November 9: Due to higher-than-expected EL rewards Lido has bumped into the conservative security check limits for maximal possible stETH rebase.
- No funds are lost or at risk but there will not be stETH rebase today and potentially in the next few days depending on the amount of EL rewards.
- Once rebasing resumes as normal all pending rewards will be distributed to stakers on the next Oracle reports.
November 3: All Lido on Solana validators are running smoothly and any previously on Hetzner have been migrated.
- wstETH call & put Options are now live on Arbitrum on Premia.
- Lido has conducted an initial pilot integration of Distributed Validator Technology with SSV Network and eight Node Operators on the Goerli testnet, successfully operating two well-performing distributed validators.
October 21: New set of dashboards to track statistics related to Lido Node Operator mainnet block proposals and MEV extraction.
- Lido bug bounty program with up to $2M in bounties on Polkadot and Kusama with ImmuneFi goes live.
- Lido dev team has kickstarted a discussion on the Validator exiting order design for Lido post withdrawals.
October 7: Lido goes live on L2s – Arbitrum One and Optimism.
October 6: Proposal to optimize LEGO budget for Q4’22 commenced.
October 5: Lido LEGO Q3’22 report.
- Spent roughly 268k in LDO equivalent ($467.8k), which is 89% of the budget.
October 3: Lido on Solana integrated with Trust Wallet and Coinbase Wallet.
September 26: Proposal to include changes to Lido on Solana to better align with Solana community and create a sustainable, high-performance Validator set for Solana commenced.
September 22: Two new Solana Node Operators onboarded – H2O Nodes and Kukis Global.
September 19: stMATIC goes live on Aave.
September 12: Proposal to enable wstETH to Arbitrum and Optimism passed.
September 6: Proposal to deploy a cross-chain implementation of Lido on Neutron to provide liquid Staking to the Cosmos ecosystem.
August 17: Lido released a blog article on what the Merge means for Lido and stETH.
August 16: Update on Lido’s L2 Plans.
- Launch on Arbitrum & Optimism.
- Allow wstETH bridging as bridges cant work with stETH rebases out of the box.
- Use upgradable setup to allow building L2-ETH Staking in future.
- Use Governance Decision Bridging smart contract to execute on L2 gov decisions made on L1 and not lean on multisig.
- Bridging contracts are audited and deployed with L1 deposits paused.
- Enable L1 wstETH bridging contracts with dev team multisig and renouncing L1 ‘deposits enabler’ role from dev team multisig
- After which, all admin rights on both L1 and L2 bridging parts belong to the Aragon Agent contract.
- Wait for audit on Governance Decision Bridging contract to get published to start Snapshot vote on enabling wstETH bridging to L2s.
- Emergency Brakes multisigs on L1 & L2s have rights necessary for disabling deposits and withdrawals in case of the emergency.
- Once Staking design is available in future, upgrade contract implementations on L1 and L2s; potentially ossify proxies.
August 12: Lido integrated with three more wallets – Blockchain.com, Exodus, and Ambire Wallet.
August 11: Lido announces that all Lido Node Operators have successfully merged as part of Goerli Testnet.
August 5: Updated proposal for treasury diversification involving DragonFly passed.
August 3: Release of Lido Node Operator Portal to consolidate all information and resources related to being a Lido Node Operator.
July 27: Proposal for treasury diversification commenced.
- DragonFly Ventures will commit to a LDO price that is the higher of the following:
- Previously defined TWAP price + 50% Premium (~$1.45 per LDO)
- 7-day backward-looking TWAP taken at the time of vote completion + 5% Premium
- DragonFly will have the ability to withdraw from the commitment if LDO price exceeds $2.25 during the vote timeline.
- There will be a 1 year lock up vesting period.
July 18: Lido announces that stETH is launching on Layer 2.
July 15: Second stage of Lido on Polkadot launched, includes:
- Uncapped stake & Validator nodes.
- Dynamic nomination model for maximised APR.
- Decentralized reward oracles.
- Multisigs for control of contract updates.
- stSOL goes live on Atrix.
- Lido moves to two-phase voting.
- Main phase – Conventional voting that lasts for 48 hours.
- Objection phase – Where LDO holders can only vote ‘against’ or change their vote from ‘for’ to ‘against’ that lasts for 24 hours.
- Proposal to sunset Lido on Terra passed and will come into effect in 30 days.
- Proposal for Lido to consider self-limiting to a share of stETH commenced.
June 22: Lido announces the expansion of Lido Node Operator Set on Ethereum.
June 21: LDO listed on Huobi.
June 11: Proposal to introduce change to Lido’s governance mechanism commenced.
- Raised principal-agent problem between stakers (principal) and LDO holders (agent) where LDO holders do not have the exact same incentives as stakers.
- Proposed to resolve it by:
- Reducing scope of governance as much as possible via ossification.
- Break the principal-agent problem by introducing a dispute and resolution mechanism for misaligned incentives between stars and LDO holders.
- Proposed solution is a dual governance framework between LDO and stETH holders.
May 31: Lido goes live on Polkadot with stDOT.
May 30: terra.lido.fi currently not functional due to network instabilities on Terra Classic, and users are asked to refrain from interacting with UI until issues are resolved.
- Lido asks users to withdraw bETH from Anchor and unwrap them to stETH, due to the market situation around UST, daily rewards on bETH are not accruing.
- Proposal to support Terra v2 not passed.
May 24: Proposal to support Terra v2 commenced.
May 17: LDO listed on crypto.com.
May 11: Update on bETH/Terra that it is theoretically possible to halt the network and freeze assets in an elaborate economic attack.
May 9: LDO listed on Binance.
May 6: LDO listed on Kraken.
May 4: stSOL goes live on Steakwallet (Now Omni).
April 13: Lido Terra bug bounty with Immunefi goes live.
April 7: DeFiSaver partners with Lido to activate 2,500 LDO reward programs for users who open a new Maker Vault with wstETH.
April 6: Initial $1m deposit cap on stMATIC removed. Any amount of MATIC allowed for Staking.
March 29: stLUNA goes live on Edge Protocol.
March 15: steCRV vaults live. st/ETH/ETH Curve LP tokens can be used as collateral in MakerDAO and earn LDO rewards from doing it.
March 14: stSOL goes live on Port Finance.
March 4: a16z joins Lido DAO.
March 2: Lido expands to Polygon with stMATIC.
February 28: stETH live as collateral on Aave.
February 21: Relaunched vote for Lido to expand to Avalanche.
February 19: Lido goes live in Kusama.
February 8: Proposal to allocate Lido treasury assets worth up to 600 ETH to develop Uniswap V3 wstETH-wETH pair passed.
- LDO goes live on Gemini.
- Due to report of a potential Wormhole exploit, Ethereum-side bETH AnchorVault & anchor.lido.fi UI is disabled for now.
- bETH exploit on wormhole has been investigated and bETH was not affected and no Anchor funds were exploited.
- Anchor.lido.fi UI re-enabled.
- Lido collaborates with Idle to launch stETH Perpetual Yield Tranches.
January 29: wstETH, stSOL and stLUNA goes live on Astroport.
- Proposal for Lido to join the Messari Hub to commission a series of research reports on Lido and the greater liquid Staking space for a total of $150k passed.
- Migration of bETH token bridge from Shutter to Wormhole.
- A UI bug associated with bETH migration, around 450 ETH of user funds were locked. Affected users are reimbursed.
January 25: Proposal for Lido to expand into Avalanche commences.
January 18: stSOL goes live on Aldrin Exchange.
January 17: Lido supported on MathWallet.
January 15: Proposal to continue LEGO for Q1 2022 passed.
January 14: stSOL pools live on Raydium.
January 8: Proposal to join the Flashbots Eth2 Working Group passed.
January 6: stSOL covered call Vault goes live on Katana.
January 4: Lido launches dashboard for SOL integrations.
December 31: Referral program live on Solana.
December 30: stSol goes live on Francium.
December 29: Lido year-end recap.
December 9: Proposal to raise wstETH debt ceiling on MakerDAO from 50M to 200M passed.
November 29: Lido reports its first node and Validator metrics report.
November 24: Covered calls on stETH go live on Ribbon Finance.
November 17: Bybit lists stETH.
November 16: Proposal to raise wstETH debt ceiling on MakerDAO from 5M to 50M passed.
November 9: Lido hits $10B in TVL.
November 1: stETH successfully integrated as collateral asset on MakerDAO.
October 27: Lido DAO Protocol Upgrade includes:
- Implement protection from deposit front-running vulnerability.
- Allow a node operator to remove their keys in batches.
- Prohibit setting non-zero initial Staking limit when adding a node operator.
- Improve the compatibility of emergency funds recovery function with external Smart Contracts.
October 26: FTX lists stETH and stSOL.
October 15: Governance poll to add stETH to MakerDAO passed.
October 12: Lido integrates with Coin98.
October 8: Lido partners with MyEtherWallet for liquid Staking for Android users.
October 5: Critical vulnerability was reported to Lido bug bounty program. Response update here.
Sep 30: Updated proposal to list stETH on Aave as collateral.
Sep 17: Coinbase custody supports deposits and withdrawals for LDO.
Sep 16: Proposal to allocate 800,000 LDO as LP rewards to bootstrap stSOL liquidity across Solana DEXes passed.
Sep 9: Liquid Staking live on Solana.
Aug 20: Omnibus vote is live. Topics include, funding Balancer LP rewards, Pay-out of Lido referral rewards, Funding LeDpunK DAO initiative, and enhancing max number of validators.
Aug 18: Proposal has been shared to bring MATIC liquid Staking to Polygon. Vote is live.
Aug 16: Launched wETH/wstETH metastable pool on Balancer. Pool is co-incentivised with LDO and BAL.
- bETH goes live on Anchor Protocol.
- Lido integrated with Ledger.
- Proposal to continue Lido Ecosystem Grant (LEGO) for next quarter.
- In the first quarter of LEGO, some initiatives funded include:
- Uniswap v3 LP helper
- Immunefi Bug Bounty
- Lido liquid Staking for Solana
- Lido content translation initiative
- Vote to onboard bETH as collateral on Anchor Protocol passed.
Aug 6: Proposal has been shared for an expansion of the Lido Staking ecosystem with liquid Staking for Polkadot and Kusama.
Aug 02: Proposal to list bETH (wrapped stETH on Terra) as collateral to Anchor Protocol has been submitted.
Jul 20: Lido Referral Program is introduced.
Jul 17: First Staking deposit using newly generated smart contract withdrawal credentials has been submitted successfully.
Jul 16: Proposal by Shard Labs for the development of liquid Staking on Polygon submitted.
Jul 15: Lido DAO has passed and enacted a vote for the upgrading of our ETH withdrawal credentials.
Jul 13: stETH goes live on Bancor.
Jul 9: Vote #76 to continue rewards for Curve LP with 3.75M LDO for the next 30 days is live.
Jul 5: Fei Protocol passed a proposal to stake 10,000 ETH with Lido.
Jun 24: Proposal for the diversification of stETH liquidity pools to grow asset productivity and integrations across the Ethereum DeFi space submitted.
Jun 21: Inverse Finance supports stETH as collateral.
Jun 17: Proposal to launch Lido referral program commenced.
Jun 14: Proposal to add stETH on Inverse Finance’s Anchor.
June 8: Proposal to continue LDO rewards for Curve LP for the next 30 days commenced.
Jun 3: Proposal by Delphi Digital for liquid Staking on Aave.
May 31: Lido Open DeFi Hackathon round up.
May 22: Lido collaborates with Immunefi on a bug bounty program.
May 17: Snapshot for whitelisting LDO with co-investment of 750k BNT from Banco live.
May 14: Vote #77. Proposal to allocate 0.375% of LDO to incentivize Curve LP passed.
May 13: Omnibus vote to continue Curve LP rewards + increase Blockscape key limit to 1,000 commenced. Proposal can be found here.
May 10: Follow-up proposal and risk assessment by ParaFi Capital to onboard stETH as collateral on Aave.
May 9: Lido hits $2b+ in TVL.
May 7: Snapshot for Chorus One’s Solana proposal to Lido DAO live.
April 30: Proposal by Chorus One team for the development of a Lido-operated liquid Staking protocol on the Solana blockchain commenced.
April 16: Proposal #56 passed to extend incentives on Curve for 4 weeks, ending on May 15.
April 13: Lido hits $1B in TVL.
April 8: Launch of Lido Ecosystem Grant
- The goal of the Lido Ecosystem Grants Organisation is to allow fast and unimpeded resolutions on small-sized grants while maintaining efficiency and accountability for big developments. The program starts small but will grow over time.
April 3: Proposal to sell 10% of LDO tokens to Paradigm and other strategic partners, directly from Lido DAO’s treasury, to further Lido’s stETH as the leading liquid Staking solution for Ethereum commenced.
March 25: LDO/ETH pair live on Deversifi (now RhinoFi).
March 17: Liquid Staking is introduced on Terra chain with Anchor Protocol.
March 10: Vote #43 passed to extend rewards for stETH/ETH LPs on Curve until April 12. 5M LDO will be distributed to liquidity providers.
March 9: stETH live on ARCx. Users can provide stETH as collateral to mint STABLEx.
March 8: Proposal by ParaFi Capital to add stETH as collateral on Compound Finance commenced.
February 23: Lido purchases slashing cover for 196,749.85 sETH from Unslashed Finance.
February 12: Vote #28 to distribute 0.5% (5M) LDO within the next 30 days to Curve stETH liquidity providers passed.
February 9: Proposal passed to onboard stETH as collateral for MakerDAO.
February 4: Lido DAO Treasury Fund Overview
- Currently holds around 35% (35M) of total LDO supply.
- The Lido DAO intends to use funds to develop and upgrade the Lido protocol as the leading liquid Staking solution.
- Treasury Fund use cases include:
- Insurance Fund
- Development/Gitcoin Grants
- Salaries and Compensation
- Legal Requests
- Research Inquiries with Other Protocols
- Social/Marketing Campaigns
- Protocol Fees
- Liquidity Mining Events
February 1: Blog article of Mechanics of stETH
- What is stETH
- Mechanics of stETH
- stETH Reward Rate
- Reward Rate and Active Discussion
January 25: LDO onboarded to Sushiswap.
- Added to Onsen Menu, Sushiswap’s program which gives SUSHI rewards to newly created tokens.
January 21: Trademark usage issue of stETH.
- Lido was notified of StakeHound’s position that they believed they had the exclusive right to use ‘stETH’.
- StakeHound filed for an EU trademark for stETH on Novemberember 20.
- Lido’s first mention of stETH was before StakeHound filed for a trademark.
- The general public used stETH to refer to Lido before StakeHound filed for a trademark.
January 18: Proposal to add stETH to Aave, allowing users to lend and borrow against stETH.
January 10: Vote #28 commences, proposing to distribute 0.5% (5M) LDO within the next 30 days to Curve stETH liquidity providers, proportionally to the provided liquidity.
January 9: Lido Staking integrated with Argent wallet.
January 7: Lido Staking rewards are live.
January 6: LDO token goes live.
- Vote #16 commences – proposing a retroactive airdrop of 0.5% LDO to early stETH holders and users of Lido.
- Vote #17 commences – proposing to add Stakefish to the Lido node operator set.
December 28: Lido goes live, Staking goes live.
- Stake ETH with Lido to earn up to 18.10% a year.
- No minimum deposit.
- Receive stETH when Staking, a tokenized version of staked ETH.
- Stake directly from Metamask, Ledger, or other wallets.
December 13-16: Lido Withdrawal Key Generation Ceremony.
- At the time, it was not possible to deploy Smart Contracts or set up multisig on ETH 2.0.
- Lido decided to use distributed custody solution. When feasible, it will be transitioned to a fully non-custodial solution.
- When ETH is staked, there is a need to specify an ETH 2.0 key called withdrawal credentials.
- Withdrawal credentials for deposited ETH will be set to Lido’s threshold signature of distributed custody, also known as the Staking withdrawal address.
- This means that users need to trust this withdrawal address to return the ETH.
- 4-day event to generate threshold signatures for Lido’s withdrawal keys in a secure environment on air-gapped machines.
- Performed by Chorus One, Staking Facilities, Certus One, Argent, Banteg (yearn.finance), Alex Svanevik (Nansen), Anton Bukov (1inch), Michael Egorov (Curve/Nucypher), Rune Christensen (MakerDAO), Will Harborne (DeversiFi, now RhinoFi) and Mustafa Al-Bassam (LazyLedger).
November 26: Lido Testnet Launch on Goerli testnet.
October 2020: Discord is open and the first blog post introducing Lido was released:
- Launch of ETH 2.0 requires early Staking commitment, illiquidity for 3 years, and must be done in multiples of 32 ETH.
- Lido is introduced as a Staking solution for ETH 2.0 to make staked ETH liquid and enable user participation with any amount of ETH.