Lido reveals approximate start dates for stETH redemption


Platform liquid staking Lido Finance plans to open stETH redemption for the “original” cryptocurrency in mid-May 2023.

The Ethereum team has scheduled the mainnet activation of Shapella around mid-April. After the hard fork, validators will be able to withdraw ETH from staking.

The developers of Lido announced that the launch of the updated protocol on the Goerli testnet is scheduled for March 20. They estimate that it will take up to 4 weeks for node operators to fully implement and test the withdrawal feature.

The company is currently conducting seven audits of the network, for which a total of $1.2 million has been spent.

“Safety is our top priority. It is a fundamental part of the Lido genome and mission. […] At the moment, we have discovered several problems that required immediate attention, ”said representatives of the platform.

As of March 10, all bugs have been fixed and updated contracts have been deployed to the Zhejiang testnet.

Recall that at the end of February, Lido recorded a record daily inflow of deposits of 150,000 ETH.

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