Ethereum

What are people's thoughts on Lido about to pass Danny Ryan's critical threshold of 33%, it currently sits at 32.3%

https://dune.com/hildobby/eth2-staking
https://notes.ethereum.org/@djrtwo/risks-of-lsd

For more: https://open.spotify.com/episode/6NwUIEMohR2R2klRl9OkBK?si=72d804943fe741a2 @evanvanness

Several media outlets have reported that I am the Chief Decentralization Officer of Ethereum

// Who am I to argue?


/ethereum foundation | control the memes control the minds paragraph.xyz/@chaskin

TLDR why it's not: Ultimately, one LSD will dominate due to superior fees, liquidity, etc. If Lido doesn't surpass the 33% threshold, another LSD will. To align Lido more closely with Ethereum, a dual governance structure is in place, allowing stETH holders to veto LDO holder proposals

Correct me if I'm wrong @hasu

TLDR why he thinks it's a major concern: A small group of people (VCs) control the majority of the LDO governance token. If Lido exceeds the 33% threshold and regulators tell the VCs to shut it down, the network could face finality disruptions and could face potential coordinated manipulation or censorships attacks

My thought is that it’s a travesty that a permissioned cartel has the staking power to prevent finality.