Lido DAO announces new phase on Ethereum with Simple DVT module
- Lido DAO voted on the deployment of the Simple DVT module nearly six months ago, it is ready for mainnet as of April 17.
- Simple DVT helps to make Lido’s technology accessible to more users.
- LDO price is down nearly 3% in the past day.
Lido DAO (LDO) announced that the Simple Distributed Validator Technology (DVT) is now officially ready for mainnet deployment. Lido DAO voted on this module nearly six months and laid the groundwork to diversify their node operators with the help of users that stake their assets with Lido.
LDO price lost nearly 3% of its value on Wednesday.
Lido DAO plans to bring Simple DVT to stakers, diversify node operators
Lido DAO, a Decentralized Autonomous Organization that decides on the key upgrades and key parameters of liquid staking protocols, is ready to release the Simple DVT module on its mainnet. The clusters labeled Obol Cohort 1 are ready to accept Ethereum (ETH) deposits.
The Ethereum staking protocol’s goal was to diversify the Node Operator set with the participation of community and solo stakers within its ecosystem. The new depositable Ether will flow into the Simple DVT Module, and once it reaches capacity, it will go to the Curated Module.
Lido announced in its official blog that the third Obol testnet run in preparation for bringing Simple DVT to the mainnet, surpassed all minimum performance benchmarks.
Lido’s post says that the mainnet onboarding of 12 clusters is underway and the performance metrics are currently above the benchmarks.
LDO price failed to keep up with the developments in the Lido ecosystem. LDO price shaved off 3% of its value in the past day and the token is down nearly 28% on the weekly timeframe. At the time of writing, LDO price is $1.947.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
