Lido Finance, the largest staking protocol on the Ethereum beacon chain, needs to wait until the Lido V2 version is launched on the mainnet before the withdrawal function of stETH can be opened. The official released the Lido V2 audit update today, announcing that 8 independent V2 audits have been completed, all issues have been confirmed or fixed, and the final audit by Oxorio is expected to be completed by the end of the month. Ethereum completed the Shanghai upgrade on April 13, allowing validators to finally withdraw the staked ETH from the beacon chain. However, Lido Finance, the largest staking protocol on the beacon chain, needs to wait until the Lido V2 version is launched on the mainnet before the withdrawal function of stETH can be opened. Therefore, the outside world believes that the "maximum selling pressure" of Ethereum may not have occurred yet.

Lido Finance released the Lido V2 audit update today, stating that security is the top priority. To this end, Lido DAO has conducted 9 independent V2 audits (8 audits have been completed and the audit results have been published on GitHub simultaneously), and all issues found have been confirmed or fixed. The last audit conducted by Oxorio is expected to be completed by the end of this month.

According to Lido Finance, the audit process confirmed and resolved issues such as the final confirmation and claim process for withdrawals, oracle reports and security checks, overall code consistency, NFT withdrawal logic, etc., and thanked all organizations involved in the audit, including: ChainSecurity, SigmaPrime, Hexens, MixBytes, StateMind, StateMind, Certora, OXORIO, etc.

Is ETH’s maximum selling pressure coming?

Lido Finance just released an announcement on the 9th that the final on-chain vote for the Lido V2 version upgrade will be held on the 12th and the voting will last for 3 days. If there are no problems with the last-minute investigation results and the vote is successful, Lido V2 will be launched after the vote is passed on the 15th.

However, since the audit will not be completed until the end of the month, the withdrawals of Lido V2, which will be launched on the 15th, will first be taken from the 270,000 ETH in the official treasury, which can satisfy the initial withdrawal request without the lengthy validator exit process.

As for the remaining Ethereum withdrawals, they may not be actually executed until the end of the month, after the audit is completed.

Lido’s staked amount reaches 6.18 million ETH

According to Dune Analytics data, the current number of Ethereum staked exceeds 19.55 million, of which Lido's ETH staked reaches 6.181 million, ranking first with a market share of 31.6%. In comparison, Coinbase, which ranks second, accounts for 11.7%, and Binance, which ranks third, accounts for 5.6%.