The Lido Protocol reveals plans for a payout function in front of the Shanghai Hard Fork from Ethereum-Defi

While the Ethereum community is preparing for the upcoming Hard Fork in Shanghai in March, the development team for the Lido Lido liquid-staking project revealed plans for creating a protocol internal payout function. The Lido team asks for community feedback to the proposal that would enable payments after completing the Shanghai upgrade.

Lido dominates the defi economy with a blocked total value of $ 7.9 billion, the team is preparing for withdrawals in Shanghai before

At the time of writing this article, the Lido Staking Protocol Lido for decentralized finances (Defi) is now the most dominant Defi protocol, measured by the blocked total value (TVL). statistics from defillama.com show that lidos tvl of 7.92 billion US dollars of $ 46.56 billion that are now in defect.

lido is the biggest owner of demarcated Ethereum, as the protocol prescribes 29% des Detected etheric care . Lidos Ethereum-derivat-token Stet is the 13th largest market assessment in the cryptocurrency industry. In addition, Lido has a governance token called Strandbad (LDO) that had a market capitalization of around 1.96 billion US dollars on January 25, 2023. The day before, the development team of Lido a suggestions according to the Shanghai upgrade.

Ethereum developers are determined to do this to do this Shanghai Hard Fork take place this March and the main focus is on enabling payments with use. "The design, proposed by Lido in the Ethereum Protocol Engineering team, matters these challenges with the minutes of the record for payout requests," explains the Lido team in A Summary of the payout landscape via the Lido protocol. "The process must be asynchronous due to the asynchronous nature of Ethereum withdrawals," add the lido developers.

The Lido developers explain that there would be different payout modes, including a "turbo" function and a "bunker" function. Further punishments and cuts would be codified for validists who violate the rules. The summary explains how inclined lines affect the fulfillment of a user's payment request.

"We are looking for the feedback from the community to ensure that our proposal takes all important considerations into account and to identify possible improvements," explains the Lido team. "Your feedback is invaluable to create a proposal that is effective, efficient and fair for everyone involved."

What do you think of Lido's proposal for internal protocol and the upcoming Hard Fork in Shanghai? Do you think this function will have a significant impact on the crypto and defi market? Share your opinion in the comments below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

Bedy verification : Shutterstock, Pixabay, Wikicommons